Global equity portfolios increasing exposure to US

Global equity funds are increasing their exposure to North American equities, according to research from Lipper. Within this peer group, JP Morgan Global increased its exposure to the US by 29% in December 2001, from 22% to 51%, funding the position by reducing UK exposure. The M&G International Growth fund increased its North American position from 29% to 66%, funding the move by reducing Japan and Far East weightings. The moves came on the back of the bounce in the US market seen during the final quarter of 2001, with the Nasdaq rallying by more than 40% from its low in September. The...