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Jardine Fleming Investment Management (JFIM) in Hong Kong may decrease its U.S. bond weighting to 9% from 13% if interest rates rise and the economy slows down over the next year. With such a shift, the firm would put the resultant money into U.S. equities, which represent 10% of the portfolio, said Jonathan Lowe, a Hong Kong-based director responsible for institutional business.
Besides 13% in U.S. bonds and 10% in U.S. equities, JFIM invests 11% of a typical global balanced portfolio for a Hong Kong fund in bonds and 22% in Hong Kong equities. The remainder of the equity holdings comprise 20% in Continental Europe, 12% in Japan and 10% in other Asia-Pacific marts. The balance of the portfolio is in cash. Compared to the average portfolio in Watson Wyatt Worldwide's Measurement of Investment...