" ... no president in the US" says $53bn fund - cuts exposure to US stocks

CEO of Finland's largest private-sector pension fund Varma Mutual Pension Insurance Co. Risto Murto

• "It seems as if there is no president in the U.S."
• "If I look at what is the moral and practical power, there is no longer a traditional president."
• Varma reduced its equity weight by 5% in Q2, says some of the reduction in U.S. stocks has to do with realizing profits
• "U.S. economy is still doing ok" ... but the bottom line is that "we are worried"

Bloomberg have more here