Fidelity Manager Dumps Nearly All Treasuries on Growth Optimism
- US economy shows more signs of re-acceleration: Efstathopoulos
- Bulk of 10-year, 30-year Treasuries were sold late last year
This article is for subscribers only.
A Fidelity International money manager has sold the vast majority of US Treasuries from funds he oversees on expectations the world’s biggest economy still has room to expand.
Singapore-based George Efstathopoulos, who helps manage about $3 billion of income and growth strategies at Fidelity, sold the bulk of his 10-year and 30-year Treasuries holdings in December. He is now turning to assets that typically do well in times of good economic growth to boost returns.