June jitters rouse fund managers into casting their hedging nets wide

London

WHEN you're global head of rates at a US$1.7 trillion fund, you can't spend a month on the sidelines to avoid risks, no matter how big.

Britain's European Union referendum, a Federal Reserve policy decision, an Opec meeting and the prospect of another muddled Spanish general election are all due in June. Like it or not, the biggest investors must take positions, particularly to spread their risk, according to David Tan at JPMorgan Asset Management in London.