T. Bailey's Askew: Investors 'too blasé' about non-sterling exposure

Manager increases funds' sterling weighting

Peter Askew, co-manager of the T. Bailey Dynamic and T. Bailey Growth funds, has been increasing both funds' sterling weighting in recent months despite a lack of foreign exchange rate volatility, following a period where the currency has been unloved.

In a note to investors back in December 2019, the manager explained that as sterling-based investors, T. Bailey Asset Management was "conscious" of the need to provide outcomes in sterling. He added in the same note that in the £114m Dynamic fund, which has an objective of UK inflation plus 3%, "any non-sterling position should either diversify the portfolio or be expected to add to the return outcome without undue risk". Ex-Aberdeen Standard distribution head Lowe joins T. Bailey AM Speaking to Investment Week, Askew said: "The point I was making in that note was a lot of peop...