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LGT shifts European equity model portfolio to defensive

Uncertainty looms amid China slowdown fears and pending Fed rate hike, LGT has adjusted its European equity model portfolio to a more defensive stance. The Liechtenstein-headquartered private bank made reductions in holdings mainly in the financial sector due to high market sensitivity, it says. The iShares MSCI Europe Financials ETF is down more than 5% year-to-date, including three 10% swings…

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