JPM's Gartside boosts high yield exposure to record level

J.P. Morgan Asset Manangement's Nick Gartside has taken his high yield exposure to its largest ever weighting in the view investors have been too hasty in exiting the sector.

As reported by Investment Week earlier this year, a number of multi-asset allocators and US mutual funds have been selling down exposure to the asset class as they saw value dry up after a strong 2012. However, Gartside (pictured), international CIO for global fixed income and currency at JPM, views the poor sentiment towards the asset class as a buying opportunity.  He has taken exposure in the £647m Strategic Bond fund up to its maximum 50% level, compared to 10% last summer, expecting further monetary easing policies will benefit the sector. "The unintended consequence of moneta...