Cash from 4% to 5%China exposure down from 18% to 14%...

• Cash from 4% to 5%
• China exposure down from 18% to 14% (distributed to US, EU, ex china emerging)
• Ali-baba out of 5 top, SAP in

Summary:
I'm a bit concerned that Chris and Hamish are exiting out of the BABA position at the bottom (locking in loses). Luckily facebook, microsoft and alphabet are doing the heavy lifting of the the portfolio, probably further cementing the fund manager's views that exposure to US tech is integral to long term growth?