Fund manager Susan Everly has positioned the Credit Suisse Transatlantic fund into economically se...
Fund manager Susan Everly has positioned the Credit Suisse Transatlantic fund into economically sensitive stocks as she sees signs of growth in the US economy.
The fund is overweight technology and consumer cyclicals and underweight in financials and communication services.
Everly said: "We were early in our positioning in economically sensitive stocks but believe that equity levels will begin to reflect future growth prior to the actual improvement in corporate earnings."
The fund is 4.6% overweight in technology against the S&P 500, making this by far the portfolio's biggest bet. A 3.2% overweight position in basic materials is another large overweight.
The biggest negative bets are 4.2% in utilities and 3.4% in financials.
Everly, who runs the fund from New York, said: "The US equity markets suffered further declines in March as continued disappointments in corporate earnings overshadowed the earlier optimism that followed the easing of interest rates by the Federal Reserve."
During March, the S&P 500 returned -5.9% for the month and the Nasdaq -13.10.
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