Equities returned to favour among multi-managers in the second quarter, with higher allocations to the US and UK, according to data from fund distributor Harrington Cooper.
The firm's proprietary research tracks the asset allocation of 32 multi-manager funds that follow a balanced risk profile with total assets under management of £10.8bn, and the allocations of 15 income-focused multi-manager funds, representing total assets of £5.2bn. It found average allocations to equities in balanced model portfolios rose by 2.3% to 55.5% over the quarter, with US equity weightings increasing by 1.3% to 9.9%, marking the highest level seen since the end of 2014 and suggesting investors remain sanguine on the US bull market. The Asset Allocation Tracker also showed ...
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