US managers cool on recession chance

S&P researchers recently returned from a fact finding mission across the Atlantic and discovered many managers are taking similar action amid the current market uncertainty. From May this year, S&P says managers have been shifting weightings to growth focused opportunities, such as energy and IT stocks, which can derive earning from overseas. S&P fund research associate director Simon Dorricott says many managers are snapping up large caps, but avoiding the hard hit areas. “The financials sector has been weak over the past year and many managers are underweight,” he says. “There is just...