Graham Duce

“Economic data and policy announcements provided the support for global equity markets to post one of the strongest September returns in living memory. Further confidence was provided by the US Federal Reserve, which suggested the central bank might act to support the economic recovery in a rather more proactive manner than investors had previously been led to believe. In light of the ‘risk on’ trade being back in vogue and the double digit returns from many equity markets over a very short period of time, we have taken some risk out of the portfolio by reducing the Threadneedle US Extended Alpha Fund.”