Move is reaction to uncertainty over direction of US, says Henderson TR Pacific trust manager
Michael Watt, manager of the Henderson TR Pacific Trust, has reduced his gearing from 10% to zero due to uncertainty over the direction of the US economy. The move is designed to help Watt preserve gains made in the past 12 months The Far East economies have performed relatively well and are looking a lot better but America is the prime mover, said Watt, who has managed the fund since it was launched back in 1987. 'Until the recovery comes through, I don't expect Asia will race away,' he added 'Asia has outperformed by a substantial amount this year and I am nervous some of that co...
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