Brewin's research team shift underweight UK equities for first time since 2010

Shift into US equities

Brewin Dolphin's research team have moved underweight UK equities for the first time in over five years, rotating instead into US holdings.

The wealth manager was defensively positioned throughout last year, but recent turmoil in global markets has prompted the research department and asset allocation team to reduce their weighting to the UK even further in model portfolios, on the back of concerns the economy is particularly vulnerable to events in China. These asset allocation changes are also followed by discretionary clients. Ben Gutteridge (pictured), head of funds research, and Guy Foster, head of research, told Investment Week: "We had been getting more defensive throughout last year and we are now only marginally ...