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Apollo raises equity weight to half for balanced Fof

Apollo Multi-Asset Management has raised the risk profile of its balanced fund of funds by taking the equity weighting close to its self-imposed maximum of 50 per cent.

At December 31, equities made up almost 48 per cent of the portfolio as the asset class ended the year on a high. Apollo says, for most regions, equities produced the best returns of 2010 in December and not one IMA sector delivered negative returns over the month.

The firm says this optimism prompted the increase in equities to 47.62 per cent from just over 41 per cent at the end of November. But the firm is continuing to use a multi-asset approach to curb volatility and believes this strategy helped the fund and the Apollo cautious fund of funds to produce positive returns last year. As at December 31, Apollo balanced was up 9 per cent over the year and Apollo cautious was up 7.54 per cent.

Last year Apollo predicted that it would not be a good time to sit in cash and it stands by that view for 2011. It says the sovereign debt problem still remains but could disappear if inflation was allowed to creep in, but this would give rise to different concerns.

Apollo partner and fund manager Steve Brann says: “Debt worries, defaults, inflation, weak growth, strong growth, take your pick, they will probably all crop up again and worry investors in different ways. But as ever, we will do our best to cut through the volatility and deliver smooth positive returns.”



The 50 most influential regulators

The chairman of the Basel Committee for Banking Supervision Nout Wellink has had the greatest influence of financial regulation in the past 12 months, according to a survey by Global Financial Strategy. Wellink, who is also a Dutch central banker, topped the 50-strong list of men and women, beating the likes of Financial Board Stability […]


ABI launches shopping around ‘best practice’ guide

The Association of British Insurers says providers will do more to encourage customers to shop around for an annuity following the publication of a ‘best practice’ guide. The launch of the ‘Best Practice Guide for the Retirement Process’ follows mounting pressure from policymakers at the Treasury, DWP and the Pensions Regulator for providers to improve […]

China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]


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