- Dedicated US equities funds are not the only ones with holdings in this asset
- Global equities funds in particular can have large allocations to them
- UK equity income funds also hold US stocks
If you invest in funds it's harder to know what your exact exposures are because a significant allocation or bias to a particular area might not be obvious from their names and categories. Holdings in US equities, for example, turn up in far more places than just dedicated US equity funds.
Passive global funds and exchange traded funds (ETFs) that track broad global equity indices have substantial exposure to US equities because these account for large parts of them. For example, two-thirds of MSCI World index was composed of US equities at the end of November.