Threadneedle's Cormac Weldon has rotated out of cyclical names in favour of defensives in his £1.2bn American Select fund, as companies struggle against a muted outlook for the US economy.
Imagine you are a political leader tasked with solving the global economic and financial crisis. You are made aware of the severity of the systemic calamity at hand and told that time is short. What do you do?
Threadneedle has launched a SICAV version of the $1.5bn US Contrarian Core fund run by sister company Columbia Management.
THE AGE OF EQUITIES IS OVER
Legg Mason is expanding its retail range for UK investors with the launch of a US equity income fund, previously only available to US investors and run by New York-based subsidiary ClearBridge Advisors.