Four Capital’s Mike Pinggera cuts EM exposure

Four Capital Partners’ Mike Pinggera (pictured) has slashed his exposure to emerging markets in his Four Multi-Strategy fund on the back of falling equity markets and commodity prices.

The former Insight Investments multi-manager reduced the fund’s investment in the emerging markets “satellite” section within the portfolio down to 5 per cent during November.

In an update, Mr Pinggera said he had increased a long position in developed market equities while adding a short position in emerging markets, betting that indices will continue to fall.

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Meanwhile, the manager said he was remaining fully invested in the fund’s three other “satellites”, which include global infrastructure, high yield investments and a dedicated “mid cap versus large cap” play.

Since its launch on January 31, this year to December 2, Mr Pinggera’s fund has gained 4.7 per cent according to FE Analytics. In the same period global equity markets have posted low double-digit returns.

Mr Pinggera joined Four Capital Partners in September 2012, having quit Insight in February of that year.