Cash levels among the average 'balanced' multi-manager portfolio have plummeted by more than a third to 5.6% over the past quarter, according to the latest report from Harrington Cooper, which found that equity allocation has also increased by 1.4% to an average of 54.9%.
The report, which assesses 31 multi-manager funds operating in the UK market with combined assets under management of £9.1bn, found that US equity funds saw the biggest jump in popularity over the quarter at 5.9%, with the average balanced portfolio now holding more than 10% in the country. Popular vehicles in this area included Artemis US Select and Findlay Park's American fund, both of which are new entrants on the top ten 'most held' list. Emerging market equities saw the second-biggest quarter-on-quarter increase from 3.3% to 3.7%, with L&G and Barclays multi-asset teams holding t...
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