The Pyrford Global Total Return fund has reduced its allocation to equities to 30%, the lowest in the history of the strategy, as manager Tony Cousins says the asset class is "extraordinarily expensive".
The £2.5bn fund has been running for institutional investors for over 20 years and was made available for retail investors two years ago. Pyrford is an affiliate of Bank of Montreal, which acquired...
'Markets will need to get used to this'
Developments in the ETF sector
Rethinking ways to attract and retain new talent
Keeping up with changing times
Unlisted firms should be given access, manager urges