“We call cash, cash. In this type of environment there are very correlated risks, like between credit and equities, but we are not trying to create equity-like returns from cash and fixed interest,” he says. “
Some clients are de-allocating from other aggressive assets into cash, but if you have a good adviser who has kept you on the straight and narrow and not misdirected your risk tolerance in the first place, then you will be OK.”
