UK/EUROPE - Schemes in the UK and throughout Europe are maintaining their commitment to equities despite market volatility, a survey by Invesco shows.
The fund manager found institutional investors had only reduced their weighting by two points in the past year – “a lot smaller than that expected given the heavy fall in equity markets over 2002”.
Average fixed income weightings rose from 49% to 54%, while real estate and other alternative assets declined slightly from 10% to 9%. However, the “high level of uncertainty” persuaded investors to retain a high level of cash at 13%.
The survey, carried out from May to June 2003, asked institutions in the UK, France, Germany, Italy and Benelux, to base their answers on their financial results to the end of 2002.
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