Audrey Ryan has been adding to internationally focused names and reducing domestically exposed stocks in her two Kames Capital ethical funds as October's Brexit deadline approaches.
The manager of the £552m Kames Ethical Equity and £453m Kames Ethical Cautious Managed funds began tilting the portfolios towards quality companies with earnings resilience and a global footprint in Q3 last year, but it was not enough to insulate the vehicles from Q4's sharp market correction. Not being able to own the more defensive 'bond proxies' from the pharma, tobacco, alcohol and aerospace industries because of the funds' ethical screens hurt short-term performance last year. Brexit Blog: Johnson faces legal challenge over Parliament suspension "Q4 2018 was quite a challeng...
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