In a time of constant handwaving, hair-tearing and op-eds discussing the perils of the collapse in market liquidity due to central planning even as investing experts double down every single time there is a 1-2% "plunge" in the markets because, well, if you don't BTFD your HFT competitor will, one firm has decided to put its money where everyone else's mouth is. Actually, "pull." 

According to Bloomberg, Sweden's largest fund manager, Swedbank Robur which oversees $138 billion in assets, has slashed its equity exposure in half at some funds "to avoid being caught on the wrong side of markets once the herd realizes stocks are over-valued."

In the funds with the broadest equity mandates, Sweden's biggest fund manager reduced its equity exposure to about 30 percent in April from 80 to 85 percent in the second half of last year, Head of Multi Asset Per Storfaelt said in a June 11 interview in Stockholm, as reported originally by Bloomberg.