The MPI Performance Reports for Q2 are now available online for you to view and download. To obtain your copy please click the button below.
Investment Managers Survey
Based on our survey of over 35 contributing managers Q2 saw an increased number of managers moving from cash to back equities, reversing the trend we observed in Q1. Defensive stocks continued to be favoured over cyclical although that was by no means a consensus view. In fixed income, managers extended duration slightly, accompanied by a move out of high yield bonds into less risky investment grade. We also saw a marked trend out of Sterling and into US Dollar and to a lesser extent Euro and Yen; while gold continued to see inflows as a safe-haven asset and longer-term fears of inflation. In alternatives, there was a noticeable move away from hedge funds and property.
Overall, compared with last quarter, sentiment this quarter is more muted with only about 20% of managers saying that it was likely they would be increasing risk in their portfolio over the next four to six weeks.