Investec Asset Management Reduces Risk After Market Rally

Investec Asset Management has reduced its holdings in risk assets on a so-called tactical basis amid signs the market is starting to look overbought and may soon consolidate.

Philip Saunders, who helps oversee more than $100 billion as head of multi asset, said while the fund manager remains materially overweight the asset class, it is right to “take the edge off that exposure” in the short term.