Lanning trims exposure to UK mid-cap stocks

JPMorgan Asset Management’s Tony Lanning has trimmed his exposure to UK mid-cap stocks claiming many managers overwhelmingly had the same view about the market.

The multi-manager said he had been rotating his UK equity managers by adding to those which have a greater exposure to large-cap stocks.

The manager said he had initiated a new holding in John Wood and Ben Leyland’s £1.3bn Johcm UK Opportunities fund, which has a large-cap bias, and had also increased his weighting in Jan Luthman and Stephen Bailey’s £481m Liontrust Macro Equity Income and Alastair Mundy’s £1.2bn Investec UK Special Situations funds.

Article continues after advert