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Friday July 16, 06:28
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UK retail funds raise domestic, U.S. stocks
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Britain-based retail funds raised exposure to British, north American and emerging market stocks at the expense of European and Japanese equities in June, according to monthly data from research firm Lipper on Thursday.
Unit trusts in the global equity growth sector cut their average holding of foreign equities to 73.9 percent in June, a fall of 0.5 percentage points from May. The funds, which together hold a total of 15.007 billion pounds ($27.78 billion) of assets, also cut average cash holdings to just 3.0 percent, down 0.4 percentange points, according to Lipper, a Reuters company.
Holdings of British stocks rose by 0.6 percent to 22.5 percent, while north American stocks rose by 0.2 percent to 35.3 percent. The monthly change in exposure to assets takes account of market movements.
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