Snowden and McNeil: Our three catalysts to moving risk off

Kames Capital's Euan McNeil and Stephen Snowden have identified three key catalysts that would cause the managers to move risk off in their £419m Investment Grade Bond fund before the end of the year.

Although the managers have been snapping up "ferociously cheap risk assets" more recently, they would be prepared to let cash tick up and take some profits should they see a Spanish bailout or any fallout from the US fiscal cliff. McNeil said: "There are two key catalysts at the macro level that would make us go risk off. Everyone is waiting for Spain to formally accept its bailout and upward movements in the markets after this would provide an opportunity for us. "The other catalyst is the US fiscal cliff which is likely to become more of an issue post elections, where we could well ...