Fund managers bet own cash on market bottom

The study of 135 UK managers currently have an average of £71,000 in near-liquid assets, but 68% have made changes to their portfolio in the last six months and 48% of those have been increasing their exposure to stocks and shares. Of the respondents, 59% say they would increase their value of their personal investments in UK equities in the next six months, while 56% expect to profit from an upturn in markets throughout 2009. Despite a general flight to safety and an increasing number of investors moving into cash, 34% say they have reduced their cash holdings, with 71% believing stock...