Avoid equities as 'more pain' on way - MM

Gray, the Miton Special Situations fund manager, is not keen on UK, US and European equity offerings, citing more attractive opportunities elsewhere. His Special Situations fund has its 40% equity exposure invested mostly in Asia and Gray is using the fund's unconstrained approach to focus on cash, bonds and resources. Gray says his leanings have led him to top the IMA Balanced Managed sector since launch 10 years ago, retuning 215.1% compared to 73.5% for the sector. “I am not running a benchmarked fund so I don’t have to go into areas I don’t feel comfortable with, such as the US,” he...