Multi-managers including Henderson and Thames River have recently reduced their allocations to Europe, following a turbulent few weeks for the region.
The IMA Europe ex UK sector has fallen 7.2% already in 2010, with a number of regional equity markets plummeting on the negativity surrounding Greece's debt problems. This impact has also been felt in currency markets, with the euro falling sharply against many major currencies. Global asset allocators have now lost faith in the region, moving underweight the eurozone for the first since September last year, according to the February BofA Merrill Lynch Fund Manager Survey. A net 11% are reporting underweight positions, down from 2% overweight in January. Henderson's Bill McQuaker e...
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