Top-performing UK global equity pension funds invested more in the US and cash last year at the expe...
Top-performing UK global equity pension funds invested more in the US and cash last year at the expense of domestic market exposure, according to a recent report by Caps. The weighted average for funds invested in the UK was 67.0% but GAM International Growth, which topped the annual rankings out of 35 funds to 31 December 2000, only invested 41.3% and increased its exposure to the US market. It invested 14.1%, compared with the average of 6.3% exposure of funds. Lack of confidence in the markets might be seen in GAM's decision last year to hold 4.3% cash against an average of 1.2%. T...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes