Britain ‘no longer a serious contender’, says hedge fund billionaire

AMP Ltd., a leading Australian asset manager, has removed bonds from several retirement funds. The company determined that sovereign debt no longer provides the essential diversification investors previously relied upon to balance stock volatility. Consequently, AMP is shifting its strategy from bonds toward gold within these retirement funds. This move signals a broader reevaluation of traditional diversification strategies as market shifts render old ballast methods ineffective for protecting retirement portfolios against current financial volatility.