Tony Nutt, manager of the £1.37bn Jupiter Income fund, is holding 7% of his portfolio in cash beca...
Tony Nutt, manager of the £1.37bn Jupiter Income fund, is holding 7% of his portfolio in cash because of concerns over the strength of the current bounce in the FTSE. While admitting that this was a lot of cash to be holding in a market that was going up, Nutt said that at current valuation levels he didn't feel there was a great deal of growth in the FTSE. 'At one point earlier this year I was holding nearly 10% in cash. I think we will see a lot of deteriorating corporate news in the first half of 2002, so I'm really quite defensive at the moment,' he said. He remains confiden...
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