Major funds bracing for bear market

Original article by David Rogers
The Australian – Page: 13 & 18 : 19-Dec-18

Sharemarkets in Australia and Asia fell sharply on 18 December, in response to bearish sentiment on Wall Street. The S&P/ASX 200 has shed more than 7.4 per cent so far in 2018, and it is on track to record its biggest fall for the December quarter since 2008. Magellan Financial Group and WAM Capital have maintain a high level of cash holdings, although Randal Jenneke of T. Rowe Price sees the market volatility as a selective buying opportunity.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, WAM CAPITAL LIMITED – ASX WAM, T ROWE PRICE GROUP INCORPORATED, STANDARD AND POOR’S 500 INDEX, SHANGHAI COMPOSITE INDEX, NIKKEI 225 INDEX, RELIANCE WORLDWIDE CORPORATION LIMITED – ASX RWC, JAMES HARDIE INDUSTRIES PLC – ASX JHX, BHP GROUP LIMITED – ASX BHP, WOOLWORTHS GROUP LIMITED – ASX WOW, AUSTRALIAN LABOR PARTY

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