Global funds changed course in February and recommended a cut to equity allocati...
BENGALURU - Global funds changed course in February and recommended a cut to equity allocations in their model balanced portfolio after taking them to a two-year high in January, instead suggesting an increase in bond holdings, Reuters polls showed.
“At present we feel it is appropriate to err on the side of caution until the scale and impact of the virus, and the longer-term economic implications, are slightly better understood and quantifiable than they are today,” said Mark Robinson, chief investment officer at Bordier & Cie UK. “With the likelihood that the Fed will cut interest rates further over the coming months if the coronavirus were to spread further, or worse still, become an epidemic, the security of the U.S. Treasury market remains appealing,” added Lowman.
The economic hit from the virus is not going to help. A separate Reuters poll of economists showed major economies in Asia would slow down significantly, stall or shrink outright in the current quarter.
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