Award-winning stock picker who bought at market low returns to cash

Tokyo

AWARD-winning stock picker David Samra is boosting cash holdings close to their limit in a market he sees as lacking buying opportunities.

Mr Samra, who oversees about US$55 billion for Artisan Partners, says that he increased cash to about 13 per cent of his international fund, near the 15 per cent maximum, as equities around the world extend rallies after Donald Trump's election. While he's been selling companies that he sees as reaching their true worth, he has found it harder to find stocks to replace them.