The big cash question for UK wealth managers

The industry has been gripped by fears of an impending market correction for some time now and debating what could cause a pullback, but talk may have been premature as global equity markets continue to hit fresh record highs into the latter stages of 2017.

A chunk of these returns may have been missed by some professional investors as it was revealed a third of the UK's leading wealth managers have said they are overweight cash across client portfolios in anticipation of a market correction. The survey, carried out by Legg Mason Global Asset Management, found 32% of wealth managers are overweight cash, despite 39% saying they are 'somewhat optimistic' when it came to their attitude to risk.  A further 30% said they were 'optimistic', while only 23% said they were 'somewhat pessimistic' and 6% considered themselves 'pessimistic'. Inve...