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

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 risk multi-manager funds and 15 income-focused multi-manager funds, which account for total assets of £14.4bn, over the course of the final three months of 2018.   Within income portfolios, exposure to equities dropped by 2.1 percentage points to an average of 43.2%. US equities saw the biggest reduction with allocations falling one percentage point to 4.2% over the quarter,...