Why we have tactically increased our US exposure

Jason Vaillancourt, co-head of global asset allocation at Putnam Investments and co-manager of the CF Canlife Total Return fund, on taking advantage of recent market volatility.

On the face of it, the economic picture looks positive. Both the UK and the US are recovering, economic data is strong and the conversation now is about when the first interest rate rise might occur. However, all of this is happening against a backdrop of slightly slower global growth, concerns about the European economy, and a slowdown in China. Central banks around the world are still keen to maintain easy monetary policy. Japan has further accelerated its easing programme, while there is talk of the European Central Bank (ECB) introducing full-scale quantitative easing (QE) as the th...