F&C takes cautious stance on global economic recovery

Jeremy Tigue, head of investment trusts at F&C, said he has less conviction on the markets now than at any time over the past two years. As a result, Tigue said he has raised the holdings in the Foreign & Colonial Investment Trust (FCIT) to around 500, in order to spread risk, as he believes there are no stocks or sector that are looking particularly attractive at present. Tigue said: 'The key question at the moment is whether to remain in defensives as we did last year. We have started to gradually move some assets into cyclicals, like technology, media and telecommunications stocks, b...