Thesis AM cuts exposure to UK and Japan across range

The investment manager has cut around 2% from both the UK and Japan, taking cash weightings back up to between 6% and 12% across all seven risk mandates. In Japan, it has sold the Man GLG Japan CoreAlpha fund entirely, halving its exposure to the country. This limits its Japanese holdings to equally-weighted positions in a Nikkei 400 ETF and the hedged JO Hambro Capital Management Japan fund. Meanwhile, the firm remains 30%-40% exposed to UK equities. Its cuts take the team below the mid-point of its strategy's equity allocation range across all seven mandates for the first time in se...