Tacit Investment Management's chief investment officer Raj Basra tells Julia Rampen how he deals with risk-seeking clients, which long-term positions are most painful to hold, and why he is avoiding GARS.
What changes have you made to your portfolios recently? We are long developed equities, which has hurt recently because emerging markets have come back over the last three to four months, and we are long US in particular. We are also long technology in the large-cap space. These companies may be volatile, but they have got business strategies. We have actually been topping up some funds, and the sector is coming back quite strongly. In fixed income, we were very long duration. We have shortened it. We have been investing in index-linked bonds, but we have sold out of credit. We are...
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