F&C cuts equity exposure - papers 1 Sept

The move is one of the strongest signs investors are becoming more cautious about the prospects for shares. The paper quotes Paul Niven, F&C's head of asset allocation, as saying: "Three years of equity gains have been driven by improving corporate fundamentals. That appears close to an end. We expect a re-emergence of growth concerns in the near term and markets appear overly bullish at present." ONE OF the most powerful jobs in fund management came up for grabs yesterday when Keith Jones, the chief executive of Morley Asset Management, quit unexpectedly, reports the Times. Jones ...