Third of UK wealth managers opting for 'correction protection'

Survey by Legg Mason

Jayna Rana
clock • 2 min read

A third of the UK's leading wealth managers have said they are holding overweight cash positions across client portfolios in anticipation of a market correction, a survey by Legg Mason Global Asset Management has found.

Following a year in which UK and global asset classes have made significant progress, wealth managers are increasingly concerned the market has got ahead of itself. As a result, a third of wealth managers (32%), who collectively manage in excess of £100bn, said they are holding cash across client portfolios to protect against a correction. But whilst ensuring they have some level of protection, wealth managers overall remain positive when it comes to their overall attitude to risk. In total, 39% said they were somewhat optimistic when it came to their attitude to risk, with a furth...

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

Schroders chief executive Peter Harrison to retire in 2025

Schroders chief executive Peter Harrison to retire in 2025

Harrison began his career at Schroders as a graduate in 1988

Cristian Angeloni
clock 24 April 2024 • 2 min read
Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Future-proofing advice, building sustainable portfolios, all things SDR

Professional Adviser
clock 19 April 2024 • 2 min read
Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read