Martin Currie Portfolio Investment Trust has started cutting its private equity exposure from 10% in January to 4.5% by April 30, FundWeb reports. The trust increased the proportion of allocation to international firms to 100% from 50% on May 23. The £153.7 million trust has also changed its benchmark to FTSE World from FTSE All-Share, effective from June 1, 2011.
The proportion of the trust’s portfolio to be held in cash was raised to 3.3% in April from 0.7% as on Jan. 31, 2011. The fund has increased its exposure to North America, the U.K. and developed Europe, while reducing allocation to Asian stocks.
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