Election uncertainty: Newton's Metcalfe ramps up overseas exposure on £2bn fund

Chris Metcalfe (pictured) currently has 18% invested outside the UK, up from 14.8% this time last year. The fund may invest up to 20% in overseas companies, according to Investment Association rules. Metcalfe said: "The run-up to the election has made us invest fairly fully in the overseas element of the portfolio. We are also aware of the changes a Labour-led government might make, so we have a degree of caution on some sectors, such as UK transport." The manager has around 9% of the portfolio invested in Switzerland, partly as a result of his increased allocation to the healthcar...