Quilter's WealthSelect cuts exposure to UK and Asian equities as stronger headwinds emerge

Inflation, political uncertainty and Brexit

Quilter’s WealthSelect managed portfolio service has reduced its allocation to UK and Asian equities in response to stronger headwinds emerging.

The decision to reduce exposure came in the firm's final scheduled rebalance of 2021, which was announced on Friday (17 December), the day after the Bank of England announced it would be hiking interest rates. WealthSelect has reduced exposure to UK equities despite some arguments that the country is trading at an attractive value. Nevertheless, portfolio manager Stuart Clark sees additional headwinds for the UK related to inflation, the continued fallout from Brexit, as well as the potential for political unrest in 2022. As a result, exposure to the UK has been reduced from a slig...