Kestrel IP slashes equities exposure ahead of 'tech-driven Q3 slowdown'
'Tech shares are very near their peak'
Kestrel IP: 'Tech stocks have exploded in value'
Kestrel Investment Partners has cut equities exposure on its flagship multi-asset fund from 75% to 40% since June, warning a third quarter slowdown in the growth trajectory of US tech stocks will ultimately impact the valuation in other key sectors.
The Kestrel Global Portfolio has increased its exposure to UK and US bonds, while moving underweight in big tech names like Amazon and Netflix, as well as in discretionary and industrial stocks. Tencent...
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