Brown Shipley explains defensive MM changes

Given turbulent markets, the portfolios have been repositioned to take a more defensive focus, with a reduced equity content and higher exposure to fixed income. Within equities, Botham has also led a move away from the UK and into European and North American-focused funds. UK equities exposure has been reduced by 5pc in the Growth fund, whilst North American exposure has increased by 6pc via iShares MSCI North American, M&G American and Martin Currie North American and Schroder US Small & Mid Cap, run by Jenny Jones. These funds are also held in the International portfolio, which has inc...