Aviva's Fitzgerald: Why my cash allocation is at a three-year high

TOP PERFORMERSAviva's Fitzgerald: Why my cash allocation is at a three-year high

clock • 3 min read

Peter Fitzgerald, manager of the Aviva Investors Multi-Manager 20-60% Shares fund, tells Maria Merricks why he prefers to hold a relatively large cash buffer for the time being.

1 What have been the main drivers behind the fund's outperformance over five years? The outperformance has been driven by a combination of security selection and asset allocation. The asset allocation decision to overweight equities compared to bonds, alternatives and cash has proven to be the correct decision over this time period. One of the key drivers to returns was a decision to overweight European equities over the summer of 2012, prior to Draghi's speech, where he famously claimed he would ‘do whatever it takes' to save the euro. We had already taken the view that Europe was un...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers have opportunity to deepen private market engagement

Advisers have opportunity to deepen private market engagement

Most client allocations to private markets are either 5%-10% or 1%-5%

Isabel Baxter
clock 18 November 2024 • 2 min read
Royal London cuts number of governed range portfolios

Royal London cuts number of governed range portfolios

Renaming remaining portfolios to reflect level of investment risk

Jenna Brown
clock 18 November 2024 • 1 min read
AJ Bell cuts fees across multi-asset income range

AJ Bell cuts fees across multi-asset income range

£1.5bn of inflows this year

Beth Brearley
clock 14 November 2024 • 1 min read