Jupiter financials team shifts cash into Asia

Jupiter Financial Opportunities co-manager Guy de Blonay has moved a significant amount of the fund's large cash weighting back into the markets, particularly the Far East.

The manager, who runs the portfolio alongside Philip Gibbs, had 40% of the £1.07bn fund sitting in cash at the end of June, as the markets continued to be highly volatile following the European sovereign debt crisis. However, de Blonay and Gibbs are now over 80% invested, with the duo recently increasing the fund’s Asian exposure to 35%. “We were right in being cautious earlier this year due to the concerns about sovereign risk, which have had an impact on the market,” de Blonay says. “But we feel the systemic and sovereign risks are issues that have been successfully dealt with – ...