Monks cautious on equities

Richard Burns, manager of the Monks Investment Trust, has 17% of the company in non-equity assets and will only begin reducing this when there is evidence that corporate profits will improve globally. The 17% non-equity holdings consist of euro denominated debt, US index-linked debt and cash. Burns, also chief investment officer at Baillie Gifford, said that while there was a strong rally in the market from 21 September to early December, this rally has since stalled. He believes there will not be much in the way of any identifiable strong trends in the market until the end of ...