Advisers to flee fixed income for emerging markets

In a poll of 458 advisers at a recent Alpha Generators conference, an overwhelming 70% intend to sell out of government bonds in 2010, with just 3% planning to increase exposure. The majority of advisers (55%) are set to reduce clients' corporate bond weightings this year - a marked turnaround from last year when it was the bestselling sector. Nearly half (48%) plan to scale back levels of cash in portfolios. Emerging markets is the prime beneficiary of the asset allocation shift, with two-thirds of those surveyed looking to increase weightings in this sector. Global growth funds also...