View more on these topics

Lawrence House reduces cash

Fund of funds manager Lawrence House has reduced cash to a minimum in its portfolios because fund manager Alan Stokes felt it was more dangerous to be out of the market than in it.

Stokes says the FTSE 100 seems to be stuck in a range of 4,000 to 4,500 points and he felt that if the index was going to break out of that range, it would move upwards.

Consequently, Lawrence House funds have been fully invested for around six weeks and are using iShares exchange traded funds to capture any market movements.

Stokes says: “What we’ve been seeing is sector rotation, where all you need is a little sign of a pick up and this pushes the index up. We think we can capture this sector rotation using iShares.”

Recommended

Sales letter missed the point

As any journalist who covers the financial services industry will tell you, there is a lot of turgid writing about. By that, I am not, of course, referring to any of my colleagues, whose limpid prose graces the pages of this paper and many other personal finance sections, magazines and websites.

European Assets reports 8% rise

The F&C-managed European Assets Trust reported an 8% rise in the six months to June 30, outperforming its benchmark, the HSBC Smaller Europe (ex UK) index, by 1%.The fund’s growth was attributed to stock selection, with two holdings, TiGenix, a Belgian-based biotech company, and Norkem, an Irish software provider, returning over 100% over the six-month […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment