13 Sep 2017 11:12
Seneca Global Income & Growth Trust plc - Update research from QuotedData
13th September 2017
Steady reduction in equity exposure
Over the past year, Seneca Global Income & Growth (SIGT) has delivered returns well in excess of its new benchmark (see page 2), further enhancing its strong track record. SIGT's manager believes we may be due to enter a bear market in 2019, ahead of a slowing global economy in 2020. Given this, it has been steadily reducing SIGT's exposure to equity markets, notably in the US where the fund is now zero weighted. The manager says that it will continue to sell equities over the rest of this year and the next, locking in profits.
Having no exposure to the world's largest equity market is a bold move for the fund and, arguably, reflects the manager's high conviction approach.
Full research:
https://quoteddata.com/2017/09/seneca-global-income-growth-steady-reduction-equity-exposure/
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