Guy seeks European value

Professional Adviser
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market continues on its volatile, rocky road and shows no sign of letting off as year ends

Value in European equities, on either the long or short side, remains difficult to find in an increasingly volatile market. The extreme and unpredictable intra-day movements seen in the market have left Roger Guy, manager of the AlphaGen Capella fund, with high cash weightings throughout much of the year. He has had low gross and net exposures to the market through- out the year because he felt he was not being paid to take the risk of being in the market in the current climate. With no real direction to market movements, Guy has an extremely cautious approach and cash levels have been ...

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