SJP's Onuekwusi trims US exposure on 'concentration conundrum'

In a roundtable dinner on Wednesday (29 November), Justin Onuekwusi said the FTSE 100 wealth manager is spreading its risk asset exposure, with an overweight to Europe, the UK and emerging markets, which he said are trading at more attractive valuations. The CIO noted that Apple, Amazon, Alphabet, Nvidia, Meta, Microsoft and Tesla, known as the ‘Magnificent Seven', now represent over a third of the S&P 500 index, a concentration risk that he said has been exacerbated by the rise of index funds. SJP CIO Onuekwusi: Retail investors lack appropriate structure to access private markets ...