F&C avoids overweight UK equity exposure

In its May Asset Allocation Game Plan, the firm says it is currently overweight in equities from the US, Continental Europe, emerging markets and Japan, while remaining neutral in the UK. F&C is cautious on Asia Pacific (ex Japan) equities however, presently underweight in the burgeoning region. Aside from equities, the firm is bullish on the convertible bond market following significantly improved credit spreads. While F&C believes the risk and reward balance in credit markets is improving, it remains underweight fixed income. The firm’s strategy is based around its belief the US ...