Asset allocators redeploy record cash levels as Greece 'event-risk' subsides

Anna Fedorova
clock • 3 min read

Multi-asset managers have started reinvesting their high cash positions, with many topping up European exposure as Greece finally reaches a new deal with its creditors.

The latest Fund Manager Survey from Bank of America Merrill Lynch showed cash holdings jumped to their highest levels since the Lehman crisis in the first week of July. But as markets retreated, investors have found more attractive entry points to begin deploying some of the high cash levels they have been sitting on for the past few months. Ben Willis, head of research at Whitechurch Securities, reinvested around 5% held in cash back into the UK market, topping up existing fund holdings after the FTSE 100 dropped back towards 6,500 earlier in the month. "We have two UK funds we wa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

'Fundamental shift': Why transparent investing really matters

'Fundamental shift': Why transparent investing really matters

‘There needs to be a concerted shift towards greater openness’

Simon Camilleri
clock 18 March 2024 • 4 min read
Partner Insight: Passive and active — the case for both

Partner Insight: Passive and active — the case for both

Invesco
clock 18 March 2024 • 4 min read
Future of Investment Festival: Secure your place for June now

Future of Investment Festival: Secure your place for June now

A look at how to take advantage of global megatrends

Professional Adviser
clock 11 March 2024 • 2 min read