Milford trims exposure to shares; builds warchest

By Rebecca Howard | Wed, 25 Mar 2020


Milford Asset Management has significantly reduced its exposure to shares and increased its overall cash levels as it looks to weather the covid-19 fallout.The Milford Active Growth Fund  - both the KiwiSaver and Investment Fund version -  has a share exposure of around 50 percent versus a “normal” market neutral share position of 80 percent, it said in a note to clients - its second in as many days.  The latest update from Milford shows returns on the KiwiSaver Active Growth Fund fell 2.9 percent in February, while the Investmen...