Multi-managers slash risk in Q4 as cash reaches record levels

Equities exposure drops to average of 43.2%

Natalie Kenway
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Jacob de Tusch-Lec's Artemis Global Income fund is among the new entrants to the top ten most commonly held funds by multi-managers
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Jacob de Tusch-Lec's Artemis Global Income fund is among the new entrants to the top ten most commonly held funds by multi-managers

Cash and non-investment grade bonds were king for multi-managers in the volatile fourth quarter of 2018, which saw exposure to each asset class ramped up by 3.3 percentage points, according to Harrington Cooper's Proprietary Asset Allocation Tracker.

As markets sold off across the globe, multi-managers slashed equities, particularly US holdings, and overall fixed income exposure. Harrington Cooper's research tool tracked the allocation of 32 balanced...

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