With returns under pressure from historically low interest rates in much of the developed world, there is relentless pressure on asset managers to find ways to improve portfolio performance. However, your own equity manager is not buying in to the current trend of 'Recovery & Rotation' and is instead taking a more cautious stance. Explain how this somewhat contrarian trade can be achieved in an economical manner and calculate the number of futures contracts the equity manager would need to buy or sell. Your portfolio is valued at GBP2.5 million, the FTSE100 futures is trading at GBP6,710 and the two beta figures under consideration are 0.8 and 1.2, respectively.