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Article: FoFs: Cautious Cazenove counts on cash.
- Article from:
- Fund Strategy
- Article date:
- June 2, 2008
CopyrightCOPYRIGHT 2008 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With its downbeat view of global prospects - and those of Britain in particular - the Cazenove Multi Manager Diversity fund has reduced its British equity holdings in favour of cash.The #160.5m Cazenove Multi Manager Diversity fund is defensively positioned to reflect its managers' cautious outlook on both equity and fixed-income markets.
Marcus Brookes and Robin McDonald, co-managers of the fund since October 2007, have increased the portfolio's exposure to cash and reduced its exposure to riskier assets.
Split into three distinct sections - fixed income and cash, equities and alternatives - the fund has also reduced its exposure to British ...