Fund managers up their personal equity exposure

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UK fund managers with personal investments in UK equities believe the stock market has bottomed, according to research from Lloyds TSB UK Private Banking.

The study of 135 UK managers, who currently have an average of £71,000 in near-liquid assets, found 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 the 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 ...

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