Britannic cuts Europe bias

By Jenne Mannion Britannic Asset Management is trimming back its overweight exposure toward Europe, while adding to its positions in UK and US. Graeme Johnston, investment manager of asset allocation at Britannic, said exposure to the UK had been built up from an underweight position to neutral against the Caps mixed with property benchmark. He said: "Valuations in the UK now look attractive on the back of poor absolute and relative performance in the market. This poor performance is a result of the market in the UK being somewhat light on tech stocks and more skewed toward defensive rat...