Rathbones' David Coombs took advantage of August's volatility by adding significantly to his positions in investment trusts despite criticising some of their practices, particularly discount control mechanisms.
Coombs said that the volatility in global markets last month had not come as a surprise and he had already shifted holdings to reflect this outlook. "In 2013, I reset my strategy as everyone knew China was going to slow and that the economy would go through a transition. I have been bearish on related areas for some time and that is what is playing out right now. The volatility has not changed my outlook at all." The firm's head of multi-asset investment said that he taken advantage of the fall by extending his trust exposure. "I have been using the volatility to add to my investme...
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