Unwinding EU membership is unprecedented
Reduces US dollar exposure
M&G's head of retail fixed interest Jim Leaviss has said it may be time to invest in US inflation protection following the oil-related sell-off seen in recent months.
The growing chance of a party outside the established top three getting a key role in a coalition government is starting to spook managers, as UKIP in particular gains ground ahead of the general election.
Jim Leaviss, head of retail fixed income at M&G, has removed his short position on the yen in his £688m Global Macro Bond fund following the dramatic sell-off in the Japanese currency.
M&G's co-head of fixed income Jim Leaviss has warned the UK could face losing its AAA rating on 5 December, the day of the Autumn Statement, as the growing budget deficit could force George Osborne to abandon plans for fiscal consolidation.
M&G's Michael Riddell has put 10% of his International Sovereign Bond fund portfolio in Italian government bonds in anticipation of a fresh liquidity injection from the European Central Bank.