FOUR's Pinggera ploughs cash pile into UK and US markets

Multi-asset manager Mike Pinggera has moved to reinvest half of the 65% cash pile in his new fund, after fears over a pull-back in equities saw him switch in to the "cheapest and most effective hedge" in July.

Pinggera (pictured), formerly head of multi-asset at Insight Investment, now manages the £1m FOUR Capital Multi-Strategy fund which launched in January this year. He moved out of all equity positions in July and moved in to cash. "Last month I was at 65% cash, and going to cash is a big part of my strategy," he said. "If I have a huge amount of cash, I do not have to worry about hedging or if something goes wrong. It is very cheap, and very effective." However, UK and US markets trended higher in July and he has since moved back in to equities, allocating 30% solely through tracker...