Cash helping in volatile US market

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By Leo Bland Some of the better performing US funds have made use of cash holdings during times of m...

By Leo Bland Some of the better performing US funds have made use of cash holdings during times of market volatility in a bid to lock in gains. Both Scottish Equitable American and Britannic American Growth have used cash positions of more than 10% to combat drops in the market in 1998 and 1999 to hold on to fund performance. Terry Ewing, head of US equities at Britannic Asset Management and lead manager of Britannic American Growth, said this strategy helped reduce volatility in the fund, particularly during the US market downturn of summer 1998 and also last year. Britannic American Gro...

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