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By PWM Editor

“Having continued the recent trend initially, February ended with a sharp reversal of the recent risk trade. Overweight equities versus bonds was negative. Higher beta markets and funds suffered the most, though the Findlay Park US Smaller Companies and Thames River Global Emerging Markets funds were far ahead of their peer groups. Our Japanese and fixed income funds rose in value alongside their markets. Looking through recent volatility we remain confident of our bias towards equities, but are considering the individual exposures given the potential increase in volatility ahead.”

 

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