Sell US, buy Japan and Europe: Australian Ethical
Australian Ethical Investment cuts its US exposure by 27% on a hunch that improved manufacturing conditions and positive cargo movements in Europe and Japan will reap returns.
Falling unemployment in Japan and an increase in European air cargo traffic have prompted Nathan Lim, portfolio manager at Australian Ethical Investment, to reduce its US holdings and boost exposure to Japan and the EU.
Lim has been adjusting the fund’s holdings for the past three months, reflecting a house view that the global economic recovery will no longer be led by China and the US. It has cut US exposure from 44% to 32% and invested more in Japan and Europe.
“For us, the b…
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