Waverton Investment Management has rebalanced its Equity Managed Portfolio Service (MPS) mandate by deploying the growing levels of cash to take advantage of recent market volatility after exceeding the asset allocation guidance.
The company said the cash balances in the Waverton Strategic Equity Fund (SEF) had risen to 5% and "the most effective and efficient means of aligning the portfolios with the asset allocation guidance" was to bring this down to 1.5% and reinvest the proceeds across the other funds. Waverton's MPS range is comprised of four funds covering different asset classes. This includes the aforementioned equity portfolio as well as the Waverton Sterling Bond, Waverton Absolute Return and Waverton Real Assets. The funds aim for a longer-term return of 3.5% above inflation measured by the UK Cons...
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