Forvis Mazars has cut its UK equities weighting as part of its third quarter managed portfolio service (MPS) rebalancing. The UK equities cut was delivered via selling down holdings of UK index tracker funds. Gilts now appear attractive, Forvis Mazars noted, with yields on the 10-year of around 5% more than compensating for political and inflation risks. The firm also increased its position in the Baillie Gifford Pacific fund, using a reduction in emerging market tracker fund holdings. Ben Seager-Scott (pictured), chief investment officer at Forvis Mazars, said: “Equity markets have delivered strong returns so far this year, supported by underlying earnings growth.