Fund Strategy
Adam Lewis Editorial, Fundstrategy.co.uk

Adam Lewis is the editor of fundstrategy.co.uk.

  • Cazenove hires manager after Pegrum departure

    28 Jul 2010

    Cazenove Capital Management has appointed John Warren, a small and mid-cap sell side specialist at UBS, as a fund manager on its UK equity team.

  • Newton adds manager to global equities team

    28 Jul 2010

    Newton has hired Terry Coles from F&C as an investment manager in its global equities team.

  • Cazenove Capital appoints head of UK retail business

    28 Jul 2010

    Rob Thorpe, the head of UK advisory at Cazenove Capital, has been promoted to the newly created position of head of UK retail.

  • Allianz announces launch date for Brazil fund

    28 Jul 2010

    Allianz Global Investors (AGI) will launch its Allianz RCM Brazil fund on October 7, after it received Financial Services Authority (FSA) approval.

  • India raises rates

    27 Jul 2010

    Concerns about high inflation have prompted the Reserve Bank of India (RBI) to raise interest rates for the second time in one month.

  • More sales, fewer funds

    27 Jul 2010

    As with any survey that totals over 100 pages, there is lots to digest in the Investment Management Association’s (IMA) annual survey of 2009.

  • TR European Growth to ditch DCM

    26 Jul 2010

    The board of the TR European Growth investment trust, managed by Henderson Global Investors, has announced proposals to remove its discount control mechanism (DCM).

  • British GDP growth surges in second quarter

    23 Jul 2010

    The British economy grew 1.1% in the second quarter of 2010 according to a preliminary estimate from the Office for National Statistics (ONS).

  • JPM to create European credit research team

    22 Jul 2010

    JP Morgan Asset Management (JPM) is to create a European credit research team, which will cover both investment grade and high yield.

  • Cenkos urges shareholders to vote against property trust merger

    21 Jul 2010

    Alan Ray, a research analyst at Cenkos, says minority shareholders of the F&C Property Trust (FCPT) should not vote in favour of its proposed merger with Ignis Investments’ UK Commercial Property Trust (UKCPT).

  • The case for total return

    20 Jul 2010

    Absolute return funds have come in for a bit of kicking in recent weeks, with many commentators questioning their purpose as several offerings have failed to deliver on their promise.

  • Swip adds to UK equities desk

    20 Jul 2010

    Scottish Widows Investment Partnership (Swip) has added to its UK equities team with the hire of Jeremy Charles, a senior portfolio manager at Aviva UK Life.

  • ‘China overheating’, warns economist

    19 Jul 2010

    Lombard Street Research, an economics consultancy, has dismissed the threat of a house price bubble in China but warns the economy is overheating substantially.

  • Mott avoids temptation to buy more BP

    19 Jul 2010

    Bill Mott, manager of the PSigma Income fund, has resisted the temptation to buy any more holdings in BP on risk grounds.

  • Global managers ditch America in favour of cash

    19 July 2010

    ?A large fall in risk appetite and global growth expectations led global fund managers to slash their weightings to America and raise their exposure to cash, according to the latest Bank of America (BofA) Merrill Lynch Fund Manager Survey.

  • Read confident on gilt prices

    16 Jul 2010

    Paul Read, co-head of fixed interest at Invesco Perpetual, says there is only a small risk of a collapse in gilt prices despite fears of Britain’s AAA credit rating being downgraded.

  • Finsbury Worldwide Pharmaceutical trust is renamed

    16 Jul 2010

    Shareholders of the Finsbury Worldwide Pharmaceutical Trust have voted to change its name to the Worldwide Healthcare Trust.

  • Rambourg explains Gartmore departure

    15 Jul 2010

    Guillaume Rambourg, who left Gartmore yesterday, says he left the group to devote his time on clearing his name.

  • Rambourg leaves Gartmore

    14 Jul 2010

    Guillaume Rambourg has resigned from Gartmore according to a London Stock Exchange announcement.

  • Back in time

    14 Jul 2010

    Try as I may I can’t find any major events that happened in March 2009. In sport England won the women’s world cup of cricket and Spurs lost the Carling Cup final to Manchester United (sob).

  • British unemployment falls

    14 Jul 2010

    Britain’s number of unemployed people fell by 34,000 during the three months to May 2010, with the total number now standing at 2.47m, according to the Office for National Statistics (ONS).

  • OECD praises Coalition’s first budget

    13 Jul 2010

    The Organisation for Economic Cooperation and Development (OECD) has described Chancellor George Osbourne’s first budget as “courageous and appropriate” in a report entitled United Kingdom: Policies for Sustainable Recovery.

  • American weightings slashed as survey points back to March 2009

    13 Jul 2010

    A large fall in risk appetite and global growth expectations has led global fund managers to slash their weightings to America and raise their exposure to cash, according to the latest Bank of America (BofA) Merrill Lynch Fund Manager Survey.

  • Chan leaves Barings

    12 Jul 2010

    Henry Chan, the head of Asia Pacific investment at Baring Asset Management, has left the group.

  • OECD unemployment falls in May

    12 Jul 2010

    Unemployment among the Organisation for Economic Cooperation and Development (OECD) member states  fell slightly to 8.6% in May, down from 8.7% in April.

  • Hexam to ‘go it alone’ running joint venture

    12 July 2010

    Hexam Capital Partners is to take a 65% stake in its joint venture (JV) with Ignis Asset Management and will have sole charge of its administration, ­distribution and operational costs.

  • US still in need of reform, says IMF

    12 July 2010

    The International Monetary Fund (IMF) has warned against treating America as the “global consumer of last resort”, saying its financial institutions and public debt still need reform.

  • HSBC loses fixed income manager

    9 Jul 2010

    Andrew Cope, manager of the HSBC Gilt & Fixed Interest, Corporate Bond funds and gilt portion of the HSBC Balanced fund, has resigned from the group.

  • Flows into money market funds hit 18-month high, says EPFR

    9 Jul 2010

    Fund flows into money market funds hit an 18-month high during the week ended July 7, according to EPFR Global Fund Data.

  • JP Morgan European Fledgeling trust is renamed

    9 Jul 2010

    The JP Morgan European Fledgeling Investment Trust has been renamed the JP Morgan European Smaller Companies Trust following a shareholder vote.

  • Harrington Cooper expands sales team

    8 Jul 2010

    Harrington Cooper has hired two sales executives to cover the British discretionary and advisory markets.

  • Jane leaves M&G

    8 Jul 2010

    David Jane, the head of UK equities at M&G, has left the group with immediate effect.

  • Hexam to go it alone

    8 Jul 2010

    Hexam Capital Partners is to take a 65% stake in its joint venture (JV) with Ignis Asset Management and will take sole charge of its administration, distribution and operational costs.

  • Fidelity to add income share class to European fund

    8 Jul 2010

    Fidelity is to add an income share class to its £3 billion European fund managed by Sam Morse.

  • IMF raises growth forecast, but warns of risks to come

    8 Jul 2010

    The International Monetary Fund (IMF) has upped its forecast for global growth GDP in 2010 to 4.6%. This represents a slight increase from its April estimate of 4.2%, while its forecast for growth in 2011 remains unchanged at 4.3%.

  • Calvert to depart Axa Framlington

    7 Jul 2010

    William Calvert, the head of emerging markets at Axa Framlington and manager of the £240m Emerging Markets unit trust, has resigned from the group.

  • Aviva to take over Henderson International Property fund

    7 Jul 2010

    Aviva Investors will take over as manager and Authorised Corporate Director (ACD) of the Henderson International Property fund, with effect from August 2.

  • American bank closures stink

    7 Jul 2010

    Stewart Cowley, the head of fixed income at Old Mutual, admits in his latest investment note to having a bad smell in his kitchen.

  • America sees rise in bonds thanks to eurozone crisis

    5 Jul 2010

    The eurozone crisis has led to a surge of flows into American bonds, according to a report by the Council on Foreign Relations.

  • EuroStoxx 50 dividend futures: GLG Partners latest to join the club

    5 July 2010

    GLG Partners has become the latest fund manager to invest in DJ EuroStoxx 50 dividend futures after the instruments suffered fire sales during the eurozone crisis.

  • IMA re-combines UK Equity Income sector

    5 July 2010

    The Investment Management Association (IMA) has re-combined the UK Equity Income sector.

  • US sees rise in bonds thanks to eurozone crisis

    5 July 2010

    The eurozone crisis has led to a surge of flows into American bonds, according to a report by the Council on Foreign Relations.

  • Global M&A hits 2004 low

    2 Jul 2010

    Global merger and acquisition (M&A) activity hit its lowest half-yearly level since the second half of 2004 in the first half of this year, according to a report from Zephyr, an M&A database.

  • Jupiter adds co-managers to Distribution fund

    1 Jul 2010

    Jupiter has promoted Alastair Gunn and Rhys Petheram to become co-managers of its £269m Distribution fund, working alongside Anthony Nutt and John Hamilton.

  • Jupiter poaches Langridge

    1 Jul 2010

    Jupiter has hired Lloyd George’s Kathryn Langridge and intends to launch a global emerging markets (Gem) fund for her to manage in due course.

  • Henderson launches Global Currency fund

    1 Jul 2010

    Henderson Global Investors has launched a fund investing in developed and emerging market currencies.

  • Investors ditch Asia

    1 Jul 2010

    Having started the year as the eighth top net selling sector, it would seem investors’ love affair for Asian funds has diminished going by the latest Investment Management Association (IMA) statistics.

  • Odd takes over reins of M&G Dividend fund

    29 Jun 2010

    Alex Odd, manager of the M&G Income fund, will additionally become lead manager of the £500m M&G Dividend fund from July 1.

  • Threadneedle launches Enhanced Commodities fund

    29 Jun 2010

    Threadneedle today launched a long-only Ucits III fund that invests across a range of commodities.

  • OECD inflation eases marginally

    29 Jun 2010

    The annual inflation rate in the Organisation for Economic Cooperation and Development (OECD) area was 2% in May, down marginally from 2.1% in February.

  • American consumer spending rises in May

    29 Jun 2010

    American consumer spending rose 0.2% in May according to the Bureau of Economic Analysis (BEA).

  • The search for income widens

    28 Jun 2010

    In years gone past British investors were often accused of only searching for income in this country and that was mainly because it was British companies best known for paying out dividends.

  • Charlemagne Capital launches emerging market income fund

    28 Jun 2010

    Charlemagne Capital has rolled out its second fund in the past seven days, the Magna Emerging Markets Dividend fund.

  • Greece crisis highlights fault lines in financial system, says report

    25 Jun 2010

    The speed with which Greece’s debt problems were transmitted to other countries and stockmarkets highlights “persisting fault lines” in the global financial system, according to the Bank of England.

  • City shutdown

    23 Jun 2010

    And so it has come to this. I am already nervous and desperately trying to think of something to blog from yesterday’s budget but all I can think of is a certain game which kicks off at 3pm.

  • Budget: Checklist

    22 Jun 2010

    At 12.30 George Osborne will deliver his first budget as chancellor. This checklist provided by Capital Economics, an economics consultancy, is a good way of keeping track of what his measures will mean for the economy.

  • Charlemagne Capital launches undervalued GEM fund

    21 Jun 2010

    Charlemagne Capital today launched the Magna Undervalued Assets fund, a global emerging markets (GEM) portfolio investing in listed closed-end funds and companies.

  • AllBlue raises £348.6m through C-share issue

    21 Jun 2010

    The board of the BlueCrest AllBlue, a multi-strategy fund of hedge funds, has announced the fund has raised £348.6m in new assets though an issue of C-shares.

  • BP spill prompts exodus from energy

    21 June 2010

    The fallout from the Gulf of Mexico oil spill has led global fund managers to cut their energy weightings in record numbers, according to the latest Bank of America Merrill Lynch Fund Manager survey.

  • Bring on the good news

    18 Jun 2010

    Bad news seems to be everywhere at the moment. If it’s not BP getting hammered by the Americans, it’s the ever deepening eurozone crisis, or it’s Rob Green spilling the ball (again against the Americans).

  • Public sector borrowing falls

    18 Jun 2010

    Net borrowing in Britain’s public sector has fallen £7.4 billion over the past 12 months, according to figures released today by the Office for National Statistics (ONS).

  • Threadneedle launches American absolute return fund

    17 Jun 2010

    Threadneedle has added to its range of range of absolute return funds with the launch of the American Absolute Alpha fund.

  • Crisis forces record cut in energy holdings, says survey

    15 Jun 2010

    The fall out from the Gulf of Mexico crisis has led global fund managers to cut their energy weightings in record numbers, according to the latest Bank of America Merrill Lynch Fund Manager survey.

  • OECD unemployment remains unchanged in April

    14 Jun 2010

    Unemployment among the Organisation for Economic Cooperation and Development (OECD) member states stayed at 8.7% in April, unchanged from the previous month.

  • Board plans to wind up Invesco trust

    14 June 2010

    The board of the Invesco English and International investment trust last week decided to wind up the firm after investors asked to redeem about 20% of its share capital.

  • Royal London is first British group with a Paif

    14 June 2010

    Royal London Asset Management (RLAM) has become the first British fund management group to launch a Property Authorised Investment Fund (Paif), following the conversion of its Royal London Exempt Property unit trust.

  • World Cup fever, times two

    9 Jun 2010

    And so it continues. I may dedicate the next month of blogs to World Cup related stories. Today’s entry comes from Société Générale which today announced the launch of a tracker fund related to a basket of European shares related to the World Cup.

  • British trade deficit widens marginally

    9 Jun 2010

    Britain’s trade deficit in goods and services widened to £3.3 billion in April, from £3.2 billion in March according to the Office for National Statistics (ONS).

  • World Cup fever

    8 Jun 2010

    As the World Cup rapidly approaches and expectations of England’s chances increase to ridiculous levels I am looking forward - or not - to a glut of fund-related world cup tie-ins.

  • Aberdeen to launch income orientated Latin American trust

    8 Jun 2010

    Aberdeen Asset Managers has announced the launch of an income orientated Latin American investment trust.

  • RLAM creates first Paif

    8 Jun 2010

    Royal London Asset Management (RLAM) has become the first British fund management group to launch a Property Authorised Investment Fund (Paif), following the conversion of its Royal London Exempt Property unit trust.

  • First G7 nation raises interest rates

    7 June 2010

    Canada last week became the first G7 country to raise interest rates following the global economic crisis, as the Bank of Canada increased its overnight rate target by a quarter point to 0.5%.

  • Martin Currie prepares for long/short takeover

    7 June 2010

    Martin Currie Investment Management is to acquire the long/short equity business of Sofaer Capital European.

  • Majedie hires Odey duo to run new global equity business

    3 Jun 2010

    Majedie Asset Management has hired two fund managers from Odey Asset Management to run a new global equity business.

  • Martin Currie adds co-manager to Japan Alpha fund

    2 Jun 2010

    Martin Currie has added Claire Marwick as a co-manager on its Japan Alpha fund, to work alongside current managers Keith Donaldson and John-Paul Temperley.

  • Turner to retire from TR Property Investment Trust

    2 Jun 2010

    Chris Turner, the fund manager of the TR Property Investment Trust, is to retire in July next year.

  • Martin Currie to acquire long/short equity business

    1 Jun 2010

    Martin Currie Investment Management has announced it is to acquire the long/short equity business of Sofaer Capital European.

  • Canada first to raise rates

    1 Jun 2010

    Canada has become the first G7 country to raise interest rates following the global economic crisis, after the Bank of Canada today increased its overnight rate target by a quarter point to 0.5%.

  • Eurozone unemployment rises to 10.1%

    1 Jun 2010

    The rate of unemployment in the eurozone rose to 10.1% in April 2010, up from 10% in March and 9.2% in April last year, according to Eurostat, the statistical office of the European Union (EU).

  • Hayes joins Axa to run Sterling Strategic Bond

    1 Jun 2010

    Nick Hayes, a former fixed interest manager at New Star, is to join Axa Investment Managers next week and will manage the Axa Sterling Strategic Bond fund.

  • Hayes joins Axa to run Sterling Strategic Bond

    31 May 2010

    ?Nick Hayes, a former fixed interest manager at New Star, is to join Axa Investment Managers next week and will manage the Axa Sterling Strategic Bond fund.

  • Investment grade bond offering from ATAM

    31 May 2010

    Alliance Trust Asset Management (ATAM), the asset management business owned by Alliance Trust, will launch an investment grade bond fund on June 15.

  • OECD ups growth forecast but warns that risks remain

    31 May 2010

    The Organisation for Economic Cooperation and Development (OECD) has raised its growth forecasts for this year and 2011 in its latest economic outlook.

  • Mapping out the FTSE

    27 May 2010

    The focus on one-day movements in the FTSE 100 and other global stockmarket indices seems to have hit new highs recently in the wake of the eurozone crisis.

  • Alliance Trust Asset Management unveils Monthly Income Bond fund

    26 May 2010

    Alliance Trust Asset Management (ATAM), the asset management business owned by Alliance Trust, will launch an investment grade bond fund on June 15.

  • OECD raises growth forecasts but warns of increasing risks

    26 May 2010

    The Organisation for Economic Cooperation and Development (OECD) has raised its growth forecasts for this year and 2011 in its latest Economic Outlook.

  • Eurozone crisis prompts cash dash

    24 May 2010

    Global fund managers have increased their cash weightings and retreated into American equities following the recent eurozone volatility and concerns about China overheating.

  • Japanese economy grows less than expected

    20 May 2010

    Japan’s economy grew at an annualised rate of 4.9% in the first quarter of 2010 according to the Cabinet Office, up from a revised 4.2% in the fourth quarter of 2009.

  • Cult of the fund manager dispelled?

    19 May 2010

    “We have never, NEVER, encountered any good fund, which we recommended, becoming bad due to a fund manager change,” writes Brian Dennehy, the managing director of Dennehy Weller, in response to the departure of the Nick Purves and Ian Lance from Schroders.

  • Thompson to leave Baillie Gifford

    19 May 2010

    Ben Thompson, manager of the Baillie Gifford High Yield Bond fund and joint manager of the Corporate Bond fund, is leaving the group to work outside the financial services industry.

  • Time to take a contrarian stand?

    18 May 2010

    The main findings in the latest Bank of America Merrill Lynch Fund Manager Survey were hardly a great surprise. The Greek crisis, which then turned into a eurozone crisis, has resulted in global fund managers running back to cash and taking money out of Europe.

  • Managers retreat into cash and America, says survey

    18 May 2010

    Global fund managers have upped their cash weightings and retreated into American equities following the recent problems in the eurozone and worries of China cooling, according to the latest Bank of America (BofA) Merrill Lynch Fund Manager Survey.

  • Small-cap trusts ‘may face pressure’

    18 May 2010

    Investment trusts with market capitalisations below £50m are increasingly likely to face pressure from shareholders to consider their options, including restructuring, according to Winterflood Investment Trusts.

  • Matrix launches long/short Asian fund

    17 May 2010

    Matrix has launched a Ucits III long/short pan-Asian equity fund, managed by Rupert Foster.

  • EC planning Ucits V to apply 'Madoff lessons'

    17 May 2010

    The European Commission (EC) is to begin working next year on a Ucits directive aimed at increasing investor protection and creating a level playing field for Ucits investors in Europe.

  • EC planning Ucits V to apply 'Madoff lessons'

    17 May 2010

    The European Commission (EC) is to begin working next year on a Ucits directive aimed at increasing investor protection and creating a level playing field for Ucits investors in Europe.

  • Mood swings over austerity package

    17 May 2010

    European markets and the euro swung between euphoria and ­nervousness last week as doubts crept in after the announcement of a €750 billion (£643 billion) package to stablise the eurozone.

  • Small-cap trusts ‘may face pressure’

    17 May 2010

    Investment trusts with market capitalisations below £50m are increasingly likely to face pressure from shareholders to consider their options, including restructuring, according to Winterflood Investment Trusts.

  • German economy grows in first quarter

    12 May 2010

    Germany’s economy expanded 0.2% quarter-on-quarter in the first three months of 2010, according to the Federal Statistics Office (Destatis).

  • Gasping at Garp

    11 May 2010

    In an industry that just loves its jargon, I would like to get a term into the dictionary courtesy of Alliance Trust Asset Management.

  • OECD unemployment sees slight rise in March

    11 May 2010

    Unemployment in the Organisation for Economic Cooperation and Development (OECD) areas saw a 0.1 percentage point rise in March to 8.7%, as the rate of unemployment stayed broadly similar.

  • Asian markets fall as Chinese inflation rises

    11 May 2010

    Chinese inflation rose to an 18-month high in April, leading to an immediate decline in Asian stockmarkets.

  • Alliance Trust Asset Management to expand fund range

    10 May 2010

    Alliance Trust Asset Management, the asset management business owned by Alliance Trust, will launch its fourth retail offering next month, a bond fund managed by Rod Davidson, head of fixed income at the group.

  • Allianz announces October launch for Brazil fund

    10 May 2010

    Allianz Global Investors (AGI) will launch its open-ended Brazil fund after the country’s general election October 3, it was announced today.

  • Lazard plans emerging markets small-caps fund

    10 May 2010

    Lazard Asset Management is planning to appoint a manager to run an emerging markets smaller companies fund.

  • Invesco Perpetual considers Latin American launch

    10 May 2010

    Invesco Perpetual is considering the launch of a Latin American investment trust.

  • EU agrees £625 billion rescue package

    10 May 2010

    The eurozone is to receive a package of measures worth over £625 billion in order to stave off uncertainty of another debt crisis such as that of Greece.

  • Group considers timely Latin American launch

    10 May 2010

    Invesco Perpetual is considering the launch of a Latin American investment trust.

  • Moody’s prepares to downgrade Portugal

    10 May 2010

    Moody’s last week announced it may downgrade Portugal’s credit rating, having placed the country’s rating on a three-month review.

  • Record quarter for Schroders despite dip in inflows

    10 May 2010

    Schroders last week reported a drop in quarterly retail fund flows as retail investor demand showed signs of slowing.

  • ECB predicts uneven recovery

    6 May 2010

    Jean-Claude Trichet, the president of the European Central Bank (ECB), today forecast that growth patterns in the eurozone could be uneven given the current “environment of high uncertainty”.

  • Record quarter for Schroders despite small dip in retail sales

    6 May 2010

    Schroders has announced a record quarter of net inflows into its funds, despite a small slowdown in retail sales.

  • F&C will retain Thames River brand

    5 May 2010

    F&C Asset Management has confirmed the Thames River Capital brand will remain if its acquisition of the boutique goes ahead.

  • European fund management industry to remain under pressure, says Fitch

    4 May 2010

    The European asset management industry is likely to remain under pressure throughout the rest of 2010 and beyond, according to a report published today by Fitch Ratings.

  • UK investors start looking overseas

    4 May 2010

    British retail investors have often been accused, and rightly so, of having too much of a domestic bias when it comes to buying funds.

  • OECD inflation hits 2.1%

    4 May 2010

    The annual inflation rate in the Organisation for Economic Cooperation and Development (OECD) area rose to 2.1% in March, up from 1.9% in February according to the OECD.

  • American growth slows in first quarter

    30 Apr 2010

    America’s economy grew at an annual rate of 3.2% in the first quarter of 2010, according to the advance estimate published today by the Bureau of Economic Analysis (BEA).

  • UK All Companies funds witness £690m outflow

    29 Apr 2010

    Funds in the UK All Companies sector saw net outflows of nearly £690m in March according to the Investment Management Association (IMA), making the sector the least popular among retail investors.

  • Vose to join Investec

    28 Apr 2010

    Ian Vose, head of global developed equities at Scottish Widows Investment Partnership (Swip), is to join Investec Asset Management.

  • Less interesting

    27 Apr 2010

    Outspoken, controversial and being vigilant on costs are just three things which spring to mind when summing up Peter Hargreaves’ stewardship of Hargreaves Lansdown.

  • Pegrum leaves Cazenove

    26 Apr 2010

    Neil Pegrum, manager of the Cazenove UK Dynamic fund and two dynamic long/short funds, has left the group to join Soros Fund Management.

  • Liontrust pair lift ailing portfolio to first quartile

    26 Apr 2010

    James Inglis-Jones and Gary West have propelled Liontrust First Income into the first quartile of the UK Equity Income sector during their debut year at the helm.

  • Growth, inflation and jobless figures deal triple blow

    26 April 2010

    A “triple whammy” of reports, of slowing GDP growth, rising inflation and unemployment hitting its highest level since 1994, delivered a reality check to Britain’s recovery prospects last week.

  • IMF raises growth forecast for advanced economies

    26 April 2010

    The International Monetary Fund (IMF) has raised its forecast for global growth by the advanced economies in 2010 to 4.2%. This represents a slight increase from its January estimate of 3.9% and a rise of one percentage point on its outlook in October 2009.

  • Liontrust pair lift ailing portfolio to first quartile

    26 April 2010

    James Inglis-Jones and Gary West have propelled Liontrust First Income into the first quartile of the UK Equity Income sector during their debut year at the helm.

  • Trusts backtrack as discount control mechanisms fail

    26 April 2010

    Investment trust discounts, which ­tightened sharply in the middle of the past decade, have widened again as many funds struggled in falling markets.

  • Britain’s growth below expectations

    23 Apr 2010

    Britain’s economy disappointed with growth of only 0.2% in the first quarter compared with a rise of 0.4% in the final quarter of 2009.

  • Martin Currie poaches Swip head of global emerging markets

    22 Apr 2010

    Kim Catechis, head of global emerging market equities at Swip, and Alistair Reynolds, investment director, global emerging market equities, are both leaving the group to join Martin Currie.

  • F&C UK Select Trust to wind up

    22 Apr 2010

    The board of the F&C UK Select Trust has announced proposals to reconstruct and wind up the investment trust.

  • IMF raises forecast for global growth

    21 Apr 2010

    The International Monetary Fund (IMF) has raised its forecast for global growth in 2010 for the advanced economies, to 4.2%. This represents a slight increase from its January estimate of 3.9% and a rise of one percentage point on its outlook in October last year.

  • British unemployment hits 2.5m

    21 Apr 2010

    The number of people unemployed in Britain hit its highest figure since 1994 during the three months to February according to the Office for National Statistics (ONS).

  • Catch-22 for investment trusts

    20 Apr 2010

    For the past decade investment trusts have made a concerted effort to make themselves more appealing to retail investors.

  • FSA to commence Goldman Sachs investigation

    20 Apr 2010

    The Financial Services Authority (FSA) has announced it is to commence a formal enforcement investigation into Goldman Sachs International, in relation to the recent Securities and Exchange Commission (SEC) allegations.

  • Manager focus: Stephen Snowden

    19 Apr 2010

    Stephen Snowden, the manager of the Old Mutual Corporate Bond fund, is driven by a simple investment philosophy: “sell into euphoria and buy into dips”.

  • Polar Capital to launch global healthcare trust

    19 Apr 2010

    Polar Capital has announced the launch of a new investment trust that seeks to generate dividend income and capital growth by investing in global healthcare companies.

  • Asian stocks fall following Goldman’s charge

    19 Apr 2010

    Asian stocks fell to a two month low after the Securities and Exchange Commission (SEC) sued Goldman Sachs for fraud on Friday.

  • Discount controls 'can no longer be relied on'

    19 Apr 2010

    Investors in investment trusts can no longer rely on discount control mechanisms (DCMs) to protect discount levels, according to Charles Cade, the head of research at Numis Securities.

  • Cash falls raise concerns, poll finds

    19 April 2010

    Markets could be overbought, according to the latest Bank of America (BofA) Merrill Lynch fund manager survey.

  • Discount controls 'can no longer be relied on'

    19 April 2010

    Investors in investment trusts can no longer rely on discount control mechanisms (DCMs) to protect discount levels, according to Charles Cade, the head of research at Numis Securities.

  • Morningstar acquires Old Broad Street Research

    19 April 2010

    Morningstar UK has acquired Old Broad Street Research (OBSR) for £11.95m, subject to post-closing adjustments.

  • Falling cash levels trigger warning, says manager survey

    13 Apr 2010

    Cash levels among global fund managers fell to 3.5% in April from 3.8% in March, which, according to the latest Bank of America (BofA) Merrill Lynch Fund Manager Survey, is a warning sign markets may be overbought.

  • Waiting for a star to fall

    12 Apr 2010

    Staring at the stars in a clear night’s sky it is often impossible to imagine that some of those shining back at you are no longer there, such is the time it takes light to travel back to earth. A breed of stars who are not light years away from earth however are the so-called “star fund managers”.

  • Morningstar acquires OBSR

    12 Apr 2010

    Morningstar UK has acquired Old Broad Street Research (OBSR) for £11.95m subject to post-closing adjustments.

  • Omam to merge away ethical fund

    6 Apr 2010

    Old Mutual Asset Managers (Omam) is planning to merge its Old Mutual Ethical fund into the Premier Fellowship fund.

  • Out of office

    6 Apr 2010

    I am out of the office this week, returning Monday, April 12.

  • Gemini seeks go-ahead for new fund

    6 Apr 2010

    Gemini Investment Management is seeking Irish regulatory approval to launch a Ucits III Oeic, containing an initial three sub funds.

  • Gemini seeks go-ahead for launch

    5 April 2010

    Gemini Investment Management is seeking Irish regulatory approval to launch a Ucits III Oeic, containing an initial three sub funds.

  • Group acts in wake of manager suspension

    5 April 2010

    Hargreaves Lansdown last week ­suspended Guillaume Rambourg’s European Absolute Alpha fund from its Wealth 150 list of recommended funds, until further details emerge on his suspension by Gartmore.

  • Strategic Bond net retail sales soar

    5 April 2010

    Sales of £ Strategic Bond funds topped the net retail sales rankings in February for the first time since April 2008, according to the ­Investment Management Association (IMA).

  • Gartmore confirms Rambourg may have violated trading rules

    31 Mar 2010

    Jeffrey Meyer, the chief executive officer of Gartmore, has confirmed reports that Guillaume Rambourg was suspended as he may have directed orders to buy and sell shares to favoured brokers, violating internal rules.

  • Contrasting fortunes for bond funds

    30 Mar 2010

    Investor appetite for strategic bond funds seems to be continuing apace after today’s announcement from the Investment Management Association (IMA) that the sector was the most popular among retail investors in February.

  • Strategic bond funds top popularity rankings

    30 Mar 2010

    Sales of £ Strategic Bond funds topped the net retail sales ranking in February, while investors continued to shun £ Corporate Bond funds, with the sector witnessing a £140m outflow, according to figures from the Investment Management Association (IMA).

  • Invest & Give appoints Duncan as distribution head

    29 Mar 2010

    Angus Duncan, the former head of distribution at Smith & Williamson, has been appointed head of distribution at Invest & Give–an investment fund that supports The Prince’s Trust.

  • Henderson to change name and policy of New Star Technology fund

    26 Mar 2010

    Henderson Global Investors is seeking unitholder approval to change the investment policy and name of the New Star Technology fund to the Henderson Global Innovation fund.

  • Eurozone reaches deal on Greece

    26 Mar 2010

    Eurozone leaders have agreed an aid plan for Greece which could total up to €22 billion (£20 billion).

  • Retail sales spike in February

    25 Mar 2010

    Retail sales rose 2.1% between January and February, the largest rise since May 2008, according to the Office for National Statistics (ONS).

  • Aberdeen expands fixed income offering

    25 Mar 2010

    Aberdeen Asset Management is to launch two new bond funds, one investing in Asia and the other in pan European high yield bonds.

  • Even more choice

    24 Mar 2010

    If there were not already enough funds to choose from among the various Investment Management Association (IMA) sectors, the terrain is about to get more crowded with the announcement that the trade body is ready to include offshore funds.

  • Omam postpones launch as Kerr reduces work commitments

    24 Mar 2010

    Old Mutual Asset Managers (Omam) has postponed the launch of its UK Specialist Absolute Return following the announcement that Luke Kerr is reducing his work commitments for a few months to focus on his health.

  • Premier hires Simon King

    22 Mar 2010

    Premier Asset Management has hired former Gartmore manager Simon King to run its UK Thematic and Smaller Companies funds.

  • Somerset prepares for GEM income launch

    22 Mar 2010

    Somerset Capital Management is planning to launch a global emerging markets (GEM) equity income fund next week.

  • China’s GDP growth set to hit 9.5%, World Bank says

    22 Mar 2010

    The World Bank has forecast that China will achieve 9.5% GDP growth in 2010, driven largely by a recovery in exports and real estate investment.

  • China’s GDP growth set to hit 9.5%, World Bank says

    22 March 2010

    The World Bank has forecast that China will achieve 9.5% GDP growth in 2010, driven largely by a recovery in exports and real estate investment.

  • Slow earnings growth 'raising deflation risk'

    22 March 2010

    The risk of the British economy going into deflation is rising, according to a report by Richard Jeffrey, the chief investment officer and economist at Cazenove Capital Management.

  • Buffett goes the extra mile

    19 Mar 2010

    America’s largest mutual fund groups are battling it out on the web in terms of who can come up with the most catchy advertising campaign

  • Guarding the van

    15 Mar 2010

    According to an article in the New York Times Vanguard has become the latest group to turn itself into a verb, with an advertising campaign advocating investors start “Vanguarding”.

  • Aegon Property trust joins switch back to creation pricing

    15 March 2010

    Aegon has become the latest group to switch the pricing model on its commercial property fund back to a creation basis.

  • Bolton portfolio could reflect badly on industry, expert warns

    15 March 2010

    If Anthony Bolton fails to deliver on the Fidelity China Special Situations fund it will reflect badly on the entire investment industry, says Winterflood Investment Trusts (Wins).

  • Martin Currie stung by fund’s removal from Wealth 150

    15 March 2010

    Martin Currie has expressed disappointment at Hargreaves Lansdown’s decision to remove its Global Alpha fund from the Wealth 150, although admitting its process has lagged for the past 18 months.

  • Baillie Gifford cuts AMC on Greater China fund

    11 Mar 2010

    Baillie Gifford is to reduce the annual management charge (AMC) on its Greater China fund from 1.75% to 1.5%, with effect from May 1.

  • Strengthening sterling hits F&C’s AUM

    10 Mar 2010

    F&C Asset Management has reported a £800m fall in assets under management (AUM) for the year ended December 31, 2009.

  • Swings and roundabouts

    9 Mar 2010

    What a difference a year makes. A year ago £ Corporate bond funds were the most popular funds among retail buyers while property funds were still seeing redemptions.

  • Aegon switches pricing on property fund to reflect inflows

    9 Mar 2010

    Aegon has switched the pricing model on the Aegon Scottish Equitable Property fund from a cancellation to a creation basis to reflects increased investor inflows into the fund.

  • Bramdean Alternatives to move to private equity

    9 Mar 2010

    The board of The Bramdean Alternatives investment trust (BRAL) is proposing to re-brand the trust to Aberdeen Private Equity, following Aberdeen’s takeover of the portfolio trust in November last year.

  • Schroder and Henderson beat earnings expectations

    9 Mar 2010

    Schroders and Hendersons cheered investors last week with higher than expected earnings figures as the two fund management groups published their annual results.

  • Absolute return funds boost Gartmore’s assets under management

    9 Mar 2010

    Gartmore has reported net inflows of £485m into its mutual funds for the year ended December 31, 2009, boosting its assets under management by 19% compared with 2008.

  • Omam prepares to unveil British fund

    8 March 2010

    Old Mutual Asset Managers (Omam) has announced it will launch a British absolute return fund for Luke Kerr in May.

  • Pigit to raise capital via share issue

    8 March 2010

    The board of the Perpetual Income & Growth Investment Trust (Pigit) has announced plans to raise capital through an issue of B shares.

  • Schroder and Henderson beat earnings expectations

    8 March 2010

    Schroders and Hendersons cheered investors last week with higher than expected earnings figures as the two fund management groups published their annual results.

  • Foreign & Colonial IT grows dividend

    5 Mar 2010

    The £2.23 billion Foreign & Colonial Investment Trust has raised its dividend for a 39th consecutive year, despite marginally underperforming its benchmark.

  • Bolton wonderings

    4 Mar 2010

    The fee structure of Anthony Bolton’s upcoming investment trust seems to have sparked some debate.

  • Interest rates remain on hold

    4 Mar 2010

    The Bank of England’s Monetary Policy Committee (MPC) today voted to maintain interest rates 0.5%.

  • Old Mutual to launch absolute return fund

    4 Mar 2010

    Old Mutual Asset Managers (Omam) has announced it will launch a UK absolute return fund for Luke Kerr in May.

  • PIGIT announces B share issue

    4 Mar 2010

    The board of the Perpetual Income & Growth Investment Trust (PIGIT) has announced plans to raise capital through an issue of B shares.

  • Annual inflation in OECD pushes up to 2.1%

    2 Mar 2010

    Overall inflation in the Organisation for Economic Cooperation and Development (OECD) area rose from 1.9% to 2.1% in January 2010 compared with December last year, according to latest figures.

  • Splits still tarnished

    1 Mar 2010

    I am genuinely disappointed that Invesco Perpetual has not been able to muster sufficient demand for its Dual Return split capital trust.

  • Invesco shelves split cap launch

    1 Mar 2010

    Invesco Perpetual has shelved plans to launch the Dual Return split capital investment trust owing to a lack of demand.

  • JP Morgan to launch Brazilian investment trust

    1 Mar 2010

    JPMorgan Asset Management (JPM) plans to launch an investment trust investing solely in Brazil, with a target size of £50m.

  • Lampl heads Barings’ new Latin America team

    1 March 2010

    ?Baring Asset Management has appointed Roberto Lampl to the new post of head of Latin America equity.

  • Lampl heads Barings’ new Latin America team

    1 Mar 2010

    Baring Asset Management has appointed Roberto Lampl to the new post of head of Latin America equity.

  • Legg Mason readies global credit fund for Q2

    1 March 2010

    ?Legg Mason is preparing to launch a global credit absolute return strategy for Western Asset Management, one of its international subsidiaries.

  • Martin Currie Oeic to focus on tech and food

    1 Mar 2010

    James Chong, the manager of the upcoming Martin Currie China Oeic, will start the portfolio with overweight positions in the technology, consumer and food and beverage sectors.

  • Martin Currie Oeic to focus on tech and food

    1 March 2010

    James Chong, the manager of the upcoming Martin Currie China Oeic, will start the portfolio with overweight positions in the technology, consumer, and food and beverage sectors.

  • American consumer confidence tumbles

    23 Feb 2010

    American consumer confidence fell to its lowest level since April 2009 in February, according to the Conference Board, a business research firm.

  • Risks remain “to the downside” says King

    23 Feb 2010

    The risks to the Monetary Policy Committee’s (MPC) view of a gradual recovery in Britain’s output “remain to the downside” said Mervyn King, governor of the Bank of England, today at a treasury committee hearing.

  • Murray International reports NAV rise

    23 Feb 2010

    The Murray International Trust has reported a 28.6% rise in its net asset value (NAV) for the year ending December 31, 2009, beating its benchmark by 6.1 percentage points.

  • Multi-managers’ broken promise

    22 Feb 2010

    The rise in use of multi-manager funds by advisers has been well documented but according to a recent report few multi-manager fund managers can demonstrate a long-term track record.

  • Out of office

    15 Feb 2010

    I am out of the office this week returning Monday, February 22.

  • EU pledge fails to appease markets

    15 Feb 2010

    Global developed stockmarkets gave last week’s accord between the European Union and Greece a muted reaction, while bonds rallied and the euro fell.

  • EU pledge fails to appease markets

    15 February 2010

    Global developed stockmarkets gave last week’s accord between the European Union and Greece a muted reaction, while bonds rallied and the euro fell.

  • OBSR removes JPM emerging market fund rating

    11 Feb 2010

    Old Broad Street Research (OBSR) has removed the rating from the JP Morgan (JPM) Emerging Markets Alpha Plus fund following the announcement that Chris Morrell, the fund’s manager, has left the group.

  • EU reaches deal on Greece

    11 Feb 2010

    European Union (EU) leaders have reached a deal on assisting Greece’s debt crisis at a summit taking place in Brussels today.

  • Manager focus: Stephen Anness

    11 Feb 2010

    In spite of its name, Stephen Anness, a UK fund manager at Invesco Perpetual, is nothing if not measured in his management of the £180m UK Aggressive fund.

  • Widening the debate?

    9 Feb 2010

    Russell Investments today issued a report which it claims widens the debate on active versus passive investments. Although the debate is already broad Russell claims that so far it has focused too narrowly on comparing passive investment to active fund management.

  • RLAM unveils Global Index Linked fund

    8 Feb 2010

    Royal London Asset Management (RLAM) has launched a Global Index Linked fund.

  • Greek debt fears hit global markets

    8 Feb 2010

    Mounting fears over Greece’s debt position spilled into global equity markets last week, as share prices in America, Asia and several European countries all fell.

  • Asian giant set to ‘overtake America’ within seven years

    8 February 2010

    China may overtake America in the next five to seven years to become the leading producer of manufactured goods, according to the Organisation for Economic Cooperation and Development (OECD).

  • Chatfeild-Roberts takes reins from Jupiter chief

    8 February 2010

    John Chatfeild-Roberts, the director of independent funds at Jupiter, has taken over from Edward Bonham Carter as the group’s chief investment officer (CIO).

  • Greek debt fears hit global markets

    8 February 2010

    Mounting fears over Greece’s debt position spilled into global equity markets last week, as share prices in America, Asia and several European countries all fell.

  • Greece is not the only word

    5 Feb 2010

    How quickly things can change. Having started the year in a positive mood, data released this week suggests an increase in risk appetite has firmly been put on hold as fresh doubts emerge about the strength of the global recovery.

  • Barclays Wealth launch Growthbuilder

    3 Feb 2010

    Barclays Wealth is launching a new structured product which will provide a maximum return of 42% after six years.

  • China on course to become largest manufactured goods producer

    2 Feb 2010

    China may overtake America in the next five to seven years to become the leading producer of manufactured goods, according to the Organisation for Economic Cooperation and Development (OECD).

  • Going against the grain

    2 Feb 2010

    Retail investors are a funny breed. At the start of last year the prediction was that it would be a slow year for fund sales because the weak state of the economy would lead to increased risk aversion.

  • Chatfeild-Roberts takes over as Jupiter CIO

    2 Feb 2010

    John Chatfeild-Roberts, the director of independent funds at Jupiter, is to take over as the group’s chief investment officer (CIO) from Edward Bonham Carter with effect from tomorrow.

  • Baillie Gifford turns to global income

    1 Feb 2010

    Baillie Gifford is to launch a global equity income fund for Dominic Neary, Fund Strategy understands.

  • Baillie Gifford turns to global income

    1 February 2010

    Baillie Gifford is to launch a global equity income fund for Dominic Neary, Fund Strategy understands.

  • Bonham Carter blames government for gloomy economic outlook

    1 February 2010

    Britain’s economic growth will remain weak for several years, unemployment will remain high and interest rates will stay low, says Edward Bonham Carter, the chief investment officer of Jupiter Asset Management.

  • Call for clarity prompts S&W to convert hedge

    1 February 2010

    Smith & Williamson (S&W) has converted its Cayman Islands-domiciled Enterprise fund into a Dublin-domiciled, Ucits III vehicle.

  • IMF revises predictions for pace of economic recovery

    1 February 2010

    The International Monetary Fund (IMF) has upped its forecast for global growth in 2010 to 3.9% from the 3.15% it made in October.

  • American consumer confidence hits two year high

    29 Jan 2010

    American consumer confidence hit its highest level in two years in January, according to the Reuters /University of Michigan Surveys of Consumers.

  • Inflation and unemployment rise in eurozone

    29 Jan 2010

    The unemployment rate in the eurozone hit 10% in December last year, up 0.1 percentage point from the month earlier, according to Eurostat.

  • Aegon discounts seven equity and bond funds

    28 Jan 2010

    Aegon is to discount initial charges on seven of its UK equity and fixed income funds until April 30, 2010.

  • Hungry hippos

    28 Jan 2010

    During a time when managers and economists flutter between all kinds of shapes, animals and even kitchen utensils to describe the shape of economic activity, it is nice to see one remain consistent.

  • IMA alters Global Emerging Markets sector

    27 Jan 2010

    The Investment Management Association (IMA) has redefined what is a global emerging market equity in its Global Emerging Markets sector.

  • China demand propels Japanese exports

    27 Jan 2010

    Japanese exports rose for the first time in 15 months in December, according to Japan’s Ministry of Finance.

  • IMF upgrades global growth forecast

    26 Jan 2010

    The International Monetary Fund (IMF) has upped its forecast for global growth in 2010 to 3.9% from the 3.15% forecast it made in October.

  • Mirae opens emerging market funds to retail investors

    26 Jan 2010

    Mirae Asset Global Investments has registered its range of emerging markets and Asian Pacific Sicavs for UK distribution.

  • Finance unlimited

    26 Jan 2010

    “Techno, techno, techno”. It has to be a hard job for the marketing departments of structured products to make a new launch sound exciting, especially when the new product is called the Capital Guaranteed Growth Plan 4.

  • British economy exits recession

    26 Jan 2010

    Britain’s GDP grew 0.1% in the fourth quarter of 2009, meaning that after six quarters of contractions the economy has exited recession.

  • Iveagh Wealth fund added to SIS

    25 Jan 2010

    The Iveagh Wealth fund has been added to the Skandia Investment Solutions (SIS) funds platform, as well as the Skandia life and pension fund range.

  • S&W Enterprise fund converts to Ucits III structure

    25 Jan 2010

    Smith & Williamson (S&W) has converted its Cayman Islands-domiciled Enterprise fund into a Dublin-domiciled, Ucits III vehicle.

  • Midas completes sale of iimia Wealth Management

    25 Jan 2010

    Midas has completed the sale of its wealth management arm, which includes iimia Wealth Management, to Jardine Lloyd Thomson (JLT).

  • Risk appetite rockets as weightings in Japan increase

    25 January 2010

    Global fund managers have upped their weightings to Japan as risk appetite hit its highest level since January 2006, according to the latest Bank of America (BofA) Merrill Lynch Survey.

  • World Bank warns of slow recovery

    25 January 2010

    The fallout from the global economic financial crisis will change the landscape for finance and growth over the next 10 years, according to a report from the World Bank.

  • World Bank warns of protracted economic recovery

    22 Jan 2010

    The fallout from the global economic financial crisis will change the landscape for finance and growth over the next 10 years, according to a report from the World Bank.

  • Rising prices affect retail sales

    22 Jan 2010

    British retail sales rose by just 0.3% in volume terms between November and December, according to the Office for National Statistics (ONS).

  • CoCo the clown

    22 Jan 2010

    I hate clowns. The way they look, the connotations with Stephen King’s IT and the fact I simply find them unfunny all key reasons behind this intense dislike. But this dislike is not to be confused with irrational fear, a phobia which is called Coulrophobia.

  • China grows fast despite global woe

    21 Jan 2010

    China’s GDP grew by 8.7% in 2009 despite the global downturn, according to official statistics published today.

  • Aegon boosts European equity team

    20 Jan 2010

    Aegon Asset Management has added to its European equity team with the hire of Pauline McPherson as a senior investment manager.

  • British unemployment falls

    20 Jan 2010

    The number of people out of work in Britain fell for the first time in 18 months in November, according to the Office for National Statistics (ONS).

  • New year’s resolution?

    19 Jan 2010

    Before the turn of the year one feature consistently stood out from the monthly Bank of America Merrill Lynch survey.

  • Weightings to Japan rise significantly, says survey

    19 Jan 2010

    Global fund managers have upped their weightings to Japan, according to the latest Bank of America (BofA) Merrill Lynch Survey, as risk appetite hit its highest level since January 2006.

  • Invesco considers gearing on new split cap

    18 Jan 2010

    Invesco Perpetual is considering adding tactical gearing to its upcoming Dual Return split capital trust, whose launch was postponed in December.

  • Strategic fund in Invesco shake-up

    18 January 2010

    Invesco Perpetual is developing its closed and open-ended fund ranges with the launch of a strategic bond fund and possible changes to its forthcoming split capital trust.

  • MFS strengthens equity analyst team

    15 Jan 2010

    MFS Investment Management (MFS) has added to its equity analyst team with the hires of Stuart McPherson and Ward Griffiths.

  • Japanese fund flows turn positive

    15 Jan 2010

    Fund flows into Japanese equity funds since the turn of the year have returned to positive for the first time since the first quarter of 2007, according to EPFR Global Fund Data.

  • Britain out of recession, says NIESR

    14 Jan 2010

    While official figures are set to released later this month, a first estimate by the National Institute of Economic and Social Research (NIESR)says Britain’s economy will have emerged from recession in the fourth quarter of 2009.

  • Go forth and diversify

    13 Jan 2010

    Fund managers and multi-managers have long extolled the benefits of diversification. However it would appear diversification has gone biblical.

  • British trade deficit narrows in November

    12 Jan 2010

    Britain’s deficit on trade in goods and services fell to £2.9 billion in November from £3.1 billion in October, according to the Office for National Statistics (ONS).

  • Oil surge widens American trade gap

    12 Jan 2010

    Rising oil prices led America’s trade deficit to rise more than expected in November last year, according to figures released today by the Commerce Department.

  • 25-month high in Indian industrial production growth

    12 Jan 2010

    India’s industrial production rose 11.7% in November 2009 compared with November 2008, which is the highest rate of growth for 25 months.

  • Groups late off the mark on Ucits IV

    11 Jan 2010

    According to a survey published today by Ernst & Young a fifth of funds they polled have not started work relating to the new Ucits directive despite it being implemented by July 2011.

  • OECD unemployment rate stays stable

    11 Jan 2010

    The unemployment rate in the Organisation for Economic Cooperation and Development (OECD) stayed unchanged in November at 8.8%, according to the OECD.

  • China becomes world’s largest auto manufacturer

    11 Jan 2010

    China replaced America as the world’s largest automobile manufacturer in 2009, according to sales figures published today by the China Association of Automobile Manufacturers (CAAM).

  • Japanese growth falls short of expectations

    11 January 2010

    On the same day that Japan appointed a new finance minister, the country revealed its economy grew less than first estimated in the third quarter of 2009.

  • Eurozone unemployment hits double digits

    8 Jan 2010

    The unemployment rate in the eurozone hit 10% in November, according to Eurostat, which is the highest level for over 11 years.

  • Japan’s economy grows less than forecast

    7 Jan 2010

    On the same day Japan announced a new finance minister, the country revealed its economy grew less than first estimated in the third quarter of 2009.

  • OECD consumer prices surge

    7 Jan 2010

    Consumer prices in the Organisation for Economic Cooperation and Development (OECD) area rose by 1.3% in November 2009, up from a 0.2% rise in October.

  • Record sales to continue?

    5 Jan 2010

    A key theme of 2009, which the Investment Management Association (IMA) has not been shy to highlight, was record fund sales.

  • Corporate bond funds see further outflows

    5 Jan 2010

    Corporate bond funds saw their second month of net outflows in November, according to the Investment Management Association (IMA).

  • Sam Mettrick joins Artemis

    4 Jan 2010

    Sam Mettrick, the former sales director, partnerships, at Henderson New Star, has joined Artemis as the head of strategic alliances.

  • Britain to exit recession in fourth quarter, says CBI

    21 Dec 2009

    The Confederation of British Industry (CBI) predicts the British economy will exit recession in the fourth quarter of 2009, helped by consumers bring spending forward to beat the value added tax (VAT) rise.

  • Calling the FTSE

    17 Dec 2009

    Managers are always loath at this time of year to predict where the FTSE 100 will be in 12 months’ time. The danger of calling it horribly wrong always seems to outweigh the potential kudos of getting it right, or close to getting it right.

  • Managers increase bank underweight

    16 Dec 2009

    Despite strengthening optimism on the prospects for the global economy in 2010, fund managers moved sharply out of banks in December according to the latest Merrill Lynch Fund Manager Survey.

  • Peaks and troughs in year of comebacks

    14 December 2009

    Trying to round up all the events to have taken place in 2009 is no easy task. After a tumultuous 2008, the economies of Britain and most of the developed world started the year in recession.

  • Bolton weighs case for closed-ended structure for planned China fund

    14 December 2009

    Fidelity is considering a closed-ended structure for the forthcoming launch of a China fund for Anthony Bolton.

  • Investors shun Europe despite returns

    13 Dec 2009

    Despite more than doubling the average return in the Investment Management Association (IMA) UK All Companies sector over the past decade, investors have halved their allocation to Europe ex UK funds during the same period.

  • The Shah and Bolton show

    11 Dec 2009

    It has been 30 years since the launch of the Fidelity Special Situations fund, and all eyes last night were on Anthony Bolton and his successor Sanjeev Shah to mark the occasion at an anniversary dinner.

  • Fidelity mulls closed-ended structure for Bolton China fund

    11 Dec 2009

    Fidelity is considering a closed-ended structure for the forthcoming launch of a China fund for Anthony Bolton.

  • Martin Currie adds hedged share class to Japan funds

    9 Dec 2009

    Martin Currie has added a hedged yen share class to its Japan Core and Japan Alpha funds.

  • Britons moving abroad?

    8 Dec 2009

    British retail investors have often been accused of having a “home bias” when it comes to picking funds, preferring British equity funds to those that are invested overseas.

  • Investors failing to go to war on prices

    7 December 2009

    Since Vanguard entered the British retail arena in June this year, the term “price war” has been bandied about on several occasions.

  • Old Mutual analyst takes control of income funds

    7 December 2009

    Michael Gifford, the manager of the Old Mutual Income and Extra Income funds, has left the group.

  • Not so happy ever after

    4 Dec 2009

    Some 80% of assets in the European funds industry is managed by just 4% of fund management groups, according to an oddly festive/panto named report called Fee Fi Fo Fum, Can Investors Smell Fund Managers’ Blood – or Vice Versa? issued yesterday by Lipper.

  • S&P forecasts more European speculative grade defaults

    2 Dec 2009

    Standard & Poor’s (S&P) forecasts that up to 75 European speculative grade-rated companies could default by the end of 2010.

  • Gifford leaves Omam

    2 Dec 2009

    Michael Gifford, manager of the Old Mutual Income fund and Old Mutual Extra Income fund, has left the group.

  • Seasonal investors

    1 Dec 2009

    Today (as you probably felt this morning) officially marks the start of winter, and the new season has been marked with a significant change in retail investor attitudes.

  • Property funds top IMA retail sales

    1 Dec 2009

    Property funds ranked highest in the net retail sales charts in October, according to the latest Investment Management Association (IMA) statistics. This is the first time the sector has topped the rankings in over two years.

  • Tana Focke: US stockmarket "too short-termist"

    30 Nov 2009

    A worrying disconnect between America’s stock­market and its economy has emerged, says Tana Focke, the manager of the Smith & Williamson North American Trust.

  • ONS figures confirm that British economy is still in recession

    30 November 2009

    The British economy is officially still in recession, contrary to analysts’ expectations, according to the latest figures from the Office for National Statistics (ONS).

  • US stockmarket ‘too short-termist’

    30 November 2009

    A worrying disconnect between America’s stock­market and its economy has emerged, says Tana Focke, the manager of the Smith & Williamson North American Trust.

  • Bolton returns

    26 Nov 2009

    The return of Anthony Bolton to the retail world has dominated the headlines today. The guru/legend, as he has been termed by many, is to manage a new China fund, which is expected to launch in March next year.

  • ONS revises British GDP estimate, but confirms recession

    25 Nov 2009

    Britain’s economy shrunk by 0.3% in the third quarter of this year, not the 0.4% contraction first estimated by the Office for National Statistics (ONS) last month.

  • Demand for commodities surges

    23 Nov 2009

    A slumping dollar and an expected short-term spike in inflation is fuelling demand for both commodities and funds that invest in the asset class.

  • OECD GDP turns positive in third quarter

    23 Nov 2009

    Third quarter GDP in the Organisation for Economic Development and Co-operation (OECD) area rose by 0.8%, up from 0% in the previous quarter, according to the OECD.

  • What sent Europeans rushing for cover?

    23 November 2009

    According to the latest Merrill Lynch Fund Manager Survey, continental European fund managers remain sceptical about how real the global recovery is.

  • Managers hedge against inflation

    23 November 2009

    Asset allocators upped their weightings to commodities in November as a hedge against rising inflation prospects, according to the Bank of America (BofA) Merrill Lynch Global Fund Manager Survey.

  • Jupiter to offer free switch into new Gibbs funds

    20 Nov 2009

    Jupiter is to offer unitholders in its Financial Opportunities fund a free switch into manager Philip Gibbs’ two new funds, which will launch on December 14.

  • Managers up commodity weightings

    18 Nov 2009

    Asset allocators upped their weightings to commodities in November as a hedge against rising inflation prospects, according to the Bank of America (BofA) Merrill Lynch Global Fund Manager Survey.

  • A well-deserved break

    17 Nov 2009

    During his 16-year stint as head of product development and communications at Barings, ABN Amro and Artemis, Nick Wells has had many an eventful day. But two significant events spring immediately to mind.

  • Wells to retire

    16 Nov 2009

    Nick Wells, the product and communications director at Artemis, has announced he is to retire from the group at the end of April next year.

  • Retiring manager sparks Framlington Growth Trust review

    16 Nov 2009

    The board of the Framlington Innovative Growth Trust is reviewing its management arrangements with Axa Framlington after the announcement that Brian Watson, the manager, is to retire next year.

  • Invesco poised to unveil split capital investment trust

    16 Nov 2009

    Invesco Perpetual is to launch a split capital investment trust later this month, to be managed by Martin Walker, the manager of the group’s open-ended UK Growth and Children’s funds.

  • Doing the splits in the proper manner

    16 November 2009

    It is some eight years since the so-called magic circle of split capital investment trusts fell spectacularly apart. Since then splits have become a somewhat dirty word, with few new funds coming to market.

  • Bank governor predicts short-term spike in inflation

    16 November 2009

    Inflation is set to spike sharply over the coming months, according to Mervyn King, the governor of the Bank of England.

  • Invesco poised to unveil split capital investment trust

    16 November 2009

    Invesco Perpetual is to launch a split capital investment trust later this month, to be managed by Martin Walker, the manager of the group’s open-ended UK Growth and Children’s funds.

  • Retiring manager sparks Framlington Growth Trust review

    16 November 2009

    The board of the Framlington Innovative Growth Trust is reviewing its management arrangements with Axa Framlington after the announcement that Brian Watson, the manager, is to retire next year.

  • The non-consensual manager

    11 Nov 2009

    “I work 250 days a year not changing any stocks,” said Alastair Mundy, head of contrarian equities at Investec, at a journalist roundtable yesterday.

  • Interest rates to stay low as King predicts inflation spike

    11 Nov 2009

    Inflation is set to spike sharply over the coming months according to Mervyn King, the governor of the Bank of England.

  • Rise in British unemployment slows

    11 Nov 2009

    The number of people unemployed in Britain saw it smallest quarterly rise since May last year, according to figures released today by the Office for National Statistics (ONS).

  • AllBlue considers C-share issue

    11 Nov 2009

    The board of the BlueCrest AllBlue fund has announced it is considering an issue of C-shares for the Guernsey-listed closed-ended vehicle, owing to investor demand.

  • British trade deficit widens

    10 Nov 2009

    Britain’s overall trade deficit rose to its highest level since January in September, according to the Office for National Statistics (ONS).

  • Following the crowd

    9 Nov 2009

    UK equity income managers are becoming increasingly concerned about what they call “clustering”, according to a survey today from Standard & Poor’s (S&P).

  • A miracle, but not as economists saw it...

    9 November 2009

    This week marks the 20th anniversary of the end of the division of East and West Germany. To date, the cost of this ­reunification has reached €1.3 trillion (£1.2 trillion), but as Stefanie Eschenbacher writes this week, for most Germans the benefits have been “priceless”.

  • American group unveils funds to UK

    9 November 2009

    American Century Investments, an American asset management group, has launched a range of four funds to the British retail market.

  • Old Mutual head quits for Scottish Widows

    9 November 2009

    Andrew Tunks, the former head of fixed interest and macro at Old Mutual Asset Management, has joined Scottish Widows Investment Partnership (Swip) as the interim director of fixed income.

  • Unitholders approve New Star Pacific fund changes

    6 Nov 2009

    Henderson New Star has received unitholder approval to alter the name and investment objective of the £66m New Star Pacific Growth unit trust.

  • Prolonged British recession confirmed

    5 Nov 2009

    Britain’s prolonged recession was today confirmed by the National Institute of Economic and Social Research (NIESR).

  • All over bar the shouting?

    5 Nov 2009

    The Monetary Policy Committee today confirmed what just a few weeks ago seemed unlikely — a further £25 billion injection into the British economy as part of its quantitative easing programme.

  • American Century Investments launches Ucits III fund range

    5 Nov 2009

    American Century Investments, an American asset management group, has launched a range of four funds which are available to British retail investors.

  • Tunks joins Swip

    5 Nov 2009

    Andrew Tunks, the former head of fixed interest and macro at Old Mutual Asset Management, has joined Scottish Widows Investment Partnership (Swip) as the interim director of fixed income.

  • Ethical sales back into positive territory

    4 Nov 2009

    After seeing a net outflow of £18m in the second quarter of 2009, sales of ethical funds rose in the third quarter, attracting a net inflow of £59m, according to the Investment Management Association (IMA).

  • The multi search for income

    3 Nov 2009

    For investors wanting income the traditional route in the retail world has been either a bond or equity income fund.

  • UBS launches Multi Asset Income fund

    2 Nov 2009

    UBS Global Asset Management has launched a Multi Asset Income fund, which at launch has an estimated yield of 5.3%.

  • Henderson New Star appoints head of global partnerships

    2 Nov 2009

    Henderson New Star has appointed James Tothill as the head of global partnerships following Sam Mettrick’s departure from the group.

  • Investec to close three funds

    30 Oct 2009

    Investec Asset Management plans to close three funds — Investec Global Extension, Japan and Pan European Equity — owing to their small sizes.

  • Equity fund sales fall as macro picture worsens

    30 Oct 2009

    Mixed macroeconomic data at the end of October resulted in outflows in American, Japanese and European equity funds, according to EPFR Global.

  • Corporate bond run is over, but for how long?

    29 Oct 2009

    And so, after a run of 10 straight months, the £ Corporate Bond sector was finally usurped at the top of the net retail sales charts in September, according to the most recent IMA statistics.

  • Niall Gallagher joins Gam

    27 Oct 2009

    Niall Gallagher has joined Gam from T Rowe Price to manage the group’s GAM Star European Equity and GAM Star Continental European Equity funds.

  • Managers set to embrace Ucits IV

    26 Oct 2009

    In a survey of 52 European fund managers published today, some 49% said they planned to restructure their fund ranges as a result of the impending Ucits IV directive.

  • Henderson changes Pacific fund to Asian income

    26 Oct 2009

    Henderson New Star is seeking unitholder approval to turn the £66m New Star Pacific Growth unit trust into an Asian income mandate.

  • Henderson changes Pacific fund to Asian income

    26 October 2009

    Henderson New Star is seeking unitholder approval to turn the £66m New Star Pacific Growth unit trust into an Asian income mandate.

  • Reality check for the feelgood fraternity

    26 October 2009

    In the run-up to the publication of Britain’s third-quarter GDP numbers last Friday, all the talk was that the country was about to come out of recession.

  • Analysis: TERs versus AMCs

    23 Oct 2009

    Total expense ratios (TERs) must be revised if they are to replace annual management charges (AMCs) in the British retail market, argues Peter Robertson, the head of retail at Vanguard Investments.

  • Reality check

    23 Oct 2009

    Fund managers and economists alike are busy revising their predictions for the shape of the British economic recovery, after today’s announcement that Britain remains in recession.

  • A new look

    21 Oct 2009

    As you may have seen the Fund Strategy website has a new look. However the changes don’t end there.

  • Hargreaves' property bear turns bullish

    19 October 2009

    Having spent six years as a commercial property bear, Mark Dampier, head of research at Hargreaves Lansdown has altered his stance on commercial property to a “tentative buy”.

  • Jaques leaves Henderson

    15 Oct 2009

    Laurie Jaques, the head of UK wholesale at Henderson, has left the company to pursue opportunities elsewhere.

  • Managers underweight cash

    14 Oct 2009

    Asset allocators have adopted an underweight in cash for the first time in five years, according to the October Bank of America Merrill Lynch fund manager survey.

  • Property bear turns bull?

    14 Oct 2009

    Mark Dampier, head of research at Hargreaves Lansdown, has not been shy over the past few years about his feelings on commercial property.

  • Rise in British unemployment slows

    14 Oct 2009

    The rate of rise in unemployment in Britain is slowing, according to the latest numbers from the Office for National Statistics (ONS).

  • British inflation falls to 1.1%

    13 Oct 2009

    Annual consumer price inflation (CPI) in Britain fell to 1.1% in September, down from 1.6% in August, according to the latest figures from the Office for National Statistics (ONS).

  • AIC responds to AIFM directive

    13 Oct 2009

    New rules proposed by the European Council’s Alternative Investment Fund Managers (AIFM) directive could undermine the prosperity of investment trusts, says the Association of Investment Companies (AIC).

  • Investec boosts credit team

    13 Oct 2009

    Investec Asset Management has added to its credit team with the hire of Theodore Stamos from Blue Mountain Capital, a specialist credit hedge fund.

  • OECD unemployment up to 8.6%

    12 Oct 2009

    The unemployment rate in the Organisation for Economic Cooperation and Development (OECD) area increased to 8.6% in August.

  • RLAM announces Oeic conversion

    12 Oct 2009

    Royal London Asset Management (RLAM) plans to converts its range of unit trusts to an Oeic structure over a five-phased conversion period, ending April next year.

  • Stockpicking back in vogue

    12 Oct 2009

    In simpleton terms I always perceived the job of active fund managers was to pick stocks. However being a “stockpicker” seems to be more of a cyclical event.

  • Odey hires managers for new fund

    12 Oct 2009

    Odey Asset Management has appointed Simon Todd and Michael Nickson from MFS International to run the group’s global equities strategy.

  • Ashcourt and Rowan to merge

    12 Oct 2009

    Ashcourt (Ashcourt Asset Management/Ashcourt Financial Planning) and Rowan and Company Capital Management (Rowan) are to merge their businesses, subject to Financial Services Authority approval.

  • Absolute return funds failed, says ratings chief

    12 October 2009

    Absolute return, 130/30 and light hedge funds were deemed failures by Manuel Arrive, the senior director at Fitch ratings, in the final session of the Fund Strategy Investment Summit in Dublin.

  • British interest rates ‘will stay at 1% for five years’

    12 October 2009

    Interest rates in Britain will remain at their present level for the next five years, Roger Bootle, the managing director of Capital Economics, predicts.

  • Manager focus: Mark Lyttleton

    9 Oct 2009

  • Many funds dubbed failures

    9 Oct 2009

    Absolute return, 130/30 and light hedge funds were deemed failures by Manuel Arrive, the senior director at Fitch ratings, in the final session of the Fund Strategy Investment Summit in Dublin.

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