Jupiter's Pidcock slashes EM exposure to largest-ever underweight on Asia fund

Expectant of emerging market contagion

Jupiter's Asian Income fund manager Jason Pidcock has removed exposure to countries such as India and Vietnam for the first time in his career, resulting in his largest-ever underweight to emerging markets.

Speaking at the Investment Week Funds to Watch conference, Pidcock said he was "not interested" in Asian emerging markets, despite having run Asian equity funds since 2003.  Currently, his £576m Asian Income fund has 24% allocated to Australia and 22% allocated to Hong Kong. In contrast, it only has 6.6% allocated to China and 3.7% allocated to Malaysia, with zero weightings to Thailand, Indonesia, the Philippines, India, Pakistan or Vietnam. IW Podcast: Are emerging markets still the future of the global economy? These weightings are significantly different to the fund's benchmark...