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Inflation Signals ‘Risk Off’ for $47 Billion Value Manager

  • Causeway Capital CEO favors cash flow on higher rate prospects
  • Ketterer eyeing active ETF as higher capital-gains tax looms
Sarah Ketterer

Sarah Ketterer

Photographer: Patrick T. Fallon/Bloomberg

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Sarah Ketterer could be basking in the best run in more than a decade for value investors. Instead, she’s trying to dodge the next downturn, shifting out of industries that roared back through the Covid-19 pandemic.

Ketterer, who oversees $47 billion as chief executive officer of Causeway Capital Management, is troubled by rising interest rates, the threat of inflation and the potential for sudden sell-offs as the Federal Reserve pumps more liquidity into financial markets.