Citigroup recommends reducing resources exposure in order to cut risk

Citigroup recommends reducing resources exposure in order to cut risk
MarketWatch
By Sarah Turner

SYDNEY (MarketWatch) -- Citigroup Australian equity strategists said Tuesday that they recommend investors reduce exposure to the resource sector in order to cut risk. They cut miners to a small overweight in their portfolio and moved to underweight in energy stocks. At the same time, they lifted their positioning in defensive sectors of the market, by raising healthcare firms to index level and upping weightings in banks and other industrials. 'While resources have underperformed by about 5% recently, this only reverses gains a month earlier, and the sector could fall further,' they said.
Citigroup recommends reducing resources exposure - MarketWatch

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