Multi-manager exposure to Asia ex Japan sold by Schroders

Schroders has sold all its exposure to Asia excluding Japan in its £230m multi-manager fund range amid concerns that growth in China will slow.

The £28.3m Multi-Manager High-Alpha fund had 3.6% exposure to Asia ex Japan at the end of September, according to Trustnet, while the £124.2m Multi-Manager Cautious Managed fund had 1% exposure and the £79.2m Strategic Balanced fund had 2%.

In October, Schroders dumped all its Asia ex Japan exposure by selling out of the £7m Liontrust Asia fund.

Speaking at the Schroders investment conference in New York last week, Jane Turner, portfolio manager, said the multi-manager team needs to see some stabilisation in Europe and an improved growth outlook before considering adding back to Asia.

She said: “Markets are all correlated and Asia and emerging markets are still very dependent on their export industry.”

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