Monks cuts UK equity bias

By James Thorneley The Baillie Gifford-managed Monks Trust is to reduce its UK equity exposure over the next two months. The international generalist portfolio run by Richard Burns has some 32% exposure to this particular market but he is aiming to bring it down to 30% by the end of April with the longer-term plan being to have a 25% weighting. This decision has been prompted by his view that the UK has only a limited supply of fast-growing technology companies, an area which he favours. Some 30% of Monks is exposed to telecom or technology stocks. As the £619.6m trust's weighting in th...