Fund managers back Euro equity

Lead analyst Alison Cratchley, said: "Managers have analysed their portfolios in great detail in the light of current market conditions." She cited Richard Pease at New Star, Dirk Enderlein at Allianz RCM and Stuart Mitchell of SW Mitchell Capital as having carried out detailed reviews of their portfolio holdings and sector exposures which had resulted in only limited stock-specific activity. "Managers are generally happy with their portfolios and none has thought it right to raise cash," added Critchley. Among the more active managers was John Bennett at GAM, who has positioned GAM S...