Taken new policy measures
Helped by foreign currency exposure
Global makets 'riddled' with uncertainty
European and Japanese equities failed to rise after central bank action
The Japanese yen hit a multi-year low of ¥125 to the dollar in June last year, a significant 40% decline from its peak of around ¥75 in October 2011. As a result, the weak Japanese yen drove corporate earnings to record highs in the last few years.
Reduces US dollar exposure
Shifts in currency and equity positions
Tilney Bestinvest has removed its currency euro and yen hedges in the belief that the macroeconomic factors driving weakness in the currencies have now subsided.