Fund management firms across the United States, Europe, and Japan have recommended holding equity exposure rate steady in a model portfolio, according to a Reuters poll taken mostly before the discovery of the latest COVID-19 variant sent a shiver through the markets. The Nov. 15–30 poll of 35 fund managers and chief investment officers suggested no changes in the 50.3 percent exposure to equities, which is near the highest level reached in the last four years. Bonds were also unchanged at 39 percent. Based on the median estimate in the poll, Japan’s Nikkei share average is expected to gain 11.4 percent by next June to reach 31,000 from Tuesday’s close of 27,821.76. However, Omicron-related restrictions and U.S. interest rate hikes may pose a risk to the gains. SMBC Nikko Securities expects Nikkei to fall around 1,500 points if the Fed raises federal funds rate which will have implications on the …