Rothschild Asset Management is tilting its funds of funds products towards small caps in anticipatio...
Rothschild Asset Management is tilting its funds of funds products towards small caps in anticipation of economic recovery towards the end of this year.
Bambos Hambi, head of portfolio services at Rothschilds, said he favoured small and mid-caps over blue chips in every geographic area apart from Asia and emerging markets, where managers in small caps can have problems with liquidity getting into and out of stocks.He added that even in Asia, Rothschilds' small and mid-cap biased fund of choice, Invesco Perpetual's offshore Asian Equity Markets fund, had been the portfolio's best performer recently.
Overall, Rothschilds has 64% in UK small and mid caps, and 36% in large caps, whereas 12 months ago the small cap bias was less marked, at 58%, compared to 42% in large caps.
In Europe it has 64% in mid and small caps and 36% in large caps compared to an even split 12 months ago.
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