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Investec Alters Fund Asset Allocation

Investec Asset Management’s head of the contrarian team, Alastair Mundy, has boosted allocation of the Cautious Managed fund.

Investec Asset Management’s head of the contrarian team, Alastair Mundy, has boosted allocation of the Cautious Managed fund, Fund Web reports. Mundy has increased the allocation to cash and short-dated government bonds by 7%.

The two asset classes will now have in total 14% allocated to the £1.9 billion portfolio. Mundy sold two of his top 10 stocks, BP and Vodafone, due to non profitability of the stocks.

Click here for the story from Fund Web.

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