Equity hedge fund managers

There are equity fund managers sitting on the fence with their largest cash component in years waiting for the market to show a more definite trend; those that are long-term bears and positioning as such; and a smaller number who are bullish.

The most 'contrarian' we spoke to was James Abate, manager of Global Asset Management's $150m American Focus Hedge Fund in New York. He was busy changing his portfolio's defensive focus to have greater exposure to US cyclicals. He was selling names such as M