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1.Market Observations, 8.Was Sticky

31 May 2017 (TheAge,SMH) – Cash holdings surge as asset managers quietly prepare for downturn

(31 May 2017, The Age, BusinessDay, p29, Myriam Robin)

‘Philip Parker from Altair Asset Management’s bold decision to liquidate his Australian shares funds and return the money to investors is highly contrarian. But his view that not all is well on the ASX is not. While none have so far followed his lead in publicly quitting the market, many in Australia’s professional investment community appear to be quietly preparing for a downturn.  According to the JPMorgan Fund Manager Radar, which assesses the public disclosures of major fund managers to deduce common themes, average cash holdings surged to 370 basis points in April, overtaking consumer discretionary stocks as the…’



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