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Fund managers shy of US


UK pension funds only allocate 1.6 per cent of their portfolio to US equities according to the final returns of the Caps performance measurement consultancy.


The figures from the end of December are down 1.8 per cent from a year earlier and 4.3 per cent from five years ago, reflecting fund manager&#39s concerns about the risks of a Wall Street retrenchment.


A shift towards global indices may mean that in future the US figures are buried in an overseas total.

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