Lehman fallout prompts Yousefian caution

Tony Yousefian has realigned the OPM Balanced Managed fund on a far more cautious footing having been hit hard in the fallout from the collapse of Lehman.

Tony Yousefian has realigned the OPM Balanced Managed fund on a far more cautious footing having been hit hard in the fallout from the collapse of Lehman. At the start of 2008 the fund was positioned in expectation of a recovery in the second half of the year. He says the fund was hit by overweight holdings in emerging markets and the US, on the belief the former could weather the downturn and the latter would start seeing economic stability. "We were expecting a few market rallies, albeit built on hope and not on fundamentals. Regretfully, with the demise of Lehmans all bets were ...