Over half of investment company fund managers have cut exposure to cash and fixed interest to take advantage of buying opportunities created by the market turmoil, according to the Association of Investment Companies(AIC).
The AIC compared members' exposure to cash and fixed interest at the end of December 2008 with their exposure at the end of May 2009. Sectors with the greatest drop in exposure over the period were those hardest hit by the financial crisis. These included property securities, sector specialist financials and global emerging markets. However, there were also marked cuts in exposure to cash and fixed interest by companies in the Global Growth, UK Growth, Global Growth and Income sector. The Director's Dealing Investment Trust made the largest cut in cash and fixed interest from 60% i...
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