Duce and Kearney increase exposure to cash

Throughout October, cash was held at an average of 10pc across the 13 funds, though the team has since taken money out of UK and Europe at points of market rebound. All of the portfolios now have double-digit cash weighting, including the most aggressive mandates such as UK Growth, which has 11pc in this asset class. Cautious Managed and Equity Managed funds have 13-13.5pc cash; Ethical, Sterling Bond and Emerging Markets are at 15-16pc. Elsewhere, Multi-Asset Distribution holds 20% cash, while the newest fund in the range, Multi-Asset Growth, holds 23.5pc. Duce explained that these h...