Eden shifts global fund to cautious sector

Eden Financial has moved its £66.6m CF Eden global multi-strategy fund from the balanced to the cautious sector.

In September,Money Marketing revealed that Harris was joining Eden to manage the fund alongside Chris Jaques.

The risk reduction has been achieved through diversification in the fund’s fixed-income holdings, raising cash from 10 per cent to around 17 per cent, and a cut in European and emerging market equity exposure.

Harris says: “We took a bit of equity risk off in Europe. We sold Neptune European opportunities, which was just over 2 per cent of the fund. We also cut emerging market equity exposure.”

Quainton Hills Financial Planning director Gordon Bowden says: “I do not think more investors will go for cautious funds in light of volatility because their overall risk profiles have not changed.”