Fund Strategy
Hannah Smith Editorial, Fundstrategy.co.uk
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Fears linger in wake of Greek plea for help
19 April 2010
Last week Greece asked its eurozone counterparts to enter into talks about the proposed bail-out, but concerns linger, not only for Greece, but for other vulnerable European countries.
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G20 leaders urged to take action over imbalances
19 April 2010
Both the International Monetary Fund (IMF) and the European Central Bank (ECB) last week called for policy intervention to prevent global imbalances from derailing economic recovery.
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Pharon managing director Mike Sargeant to retire
16 Apr 2010
Mike Sargeant, the managing director of Pharon Independent Financial Advisers, is to retire at the end of September.
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China’s GDP grows 11.9% in first quarter
15 Apr 2010
China’s economy grew by 11.9% in the first quarter of this year, according to figures released today by the country’s National Bureau of Statistics.
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Gam adds emerging market currency fund to Ucits range
15 Apr 2010
Gam has launched an onshore Ucits III version of an emerging market interest rate and currency hedge fund.
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ECB joins calls for resolution of global imbalances
15 Apr 2010
The European Central Bank (ECB) has warned this week that global governments must do more to reduce imbalances if the recovery is not to be derailed.
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IMF urges economies to correct global imbalances
15 Apr 2010
The International Monetary Fund (IMF) has published its recommendations to resolve global imbalances and promote recovery in the global economy.
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Octopus plans European Absolute Return fund
15 Apr 2010
Octopus Investments has confirmed it is planning a European Absolute Return fund, slated for launch in late spring.
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Lipper: European fund sales fall in February
15 Apr 2010
Fund flows into Europe were down almost 20% between January and February, although cumulative sales for the year were their strongest since 1997, says Lipper FMI Fund Flash.
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American imports grow faster than exports
14 Apr 2010
America’s imports grew at a faster rate than its exports, according to a statement issued by the Commerce Department this week.
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Hargreaves: Emerging Europe funds best performers in March
14 Apr 2010
Hargreaves Lansdown has reported the March sales figures on its Vantage platform, showing that Active Managed was the most popular sector for the month.
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OECD unemployment sees slight fall in February
13 Apr 2010
Unemployment in the Organisation for Economic Cooperation and Development (OECD) area saw a 0.1 percentage point fall to 8.6% in February, making it broadly stable from the previous month.
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Aviva hires Lake to run High Yield Bond fund
13 Apr 2010
Andrew Lake has joined Aviva Investors to take on the management of the group’s High Yield Bond fund.
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Pictet launches European long/short fund
13 Apr 2010
Pictet Funds has launched a Ucits III European long/short equity fund based on an existing Cayman Islands-domiciled hedge fund strategy, the Corto European fund.
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Skandia opens European Best Ideas to British investors
12 Apr 2010
Skandia has made its European Best Ideas fund available to British investors by listing it on the Skandia Investment Solutions platform.
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Eurozone countries come to agreement on Greece
12 Apr 2010
The members of the eurozone have come to an agreement on the terms of bail-out measures for Greece.
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Star managers’ numbers disappoint
12 Apr 2010
Over-reliance on “star managers” could be bad for investors, judging from the disappointing performance of some prominent managers’ funds.
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Offshore entrants grab high rankings
12 April 2010
New offshore entrants to the Investment Management Association’s (IMA) sectors have bumped some leading funds down the performance tables on a three-year view.
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Offshore entrants grab high rankings
12 April 2010
New offshore entrants to the Investment Management Association’s (IMA) sectors have bumped some leading funds down the performance tables on a three-year view.
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Star managers’ numbers disappoint
12 April 2010
Over-reliance on “star managers” could be bad for investors, judging from the disappointing performance of some prominent managers’ funds.
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Britain’s output sees below trend growth
8 Apr 2010
Britain’s output grew by 0.4% in the three months to March, according to a monthly estimate from the National Institute of Economic and Social Research (NIESR).
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Skandia adds JPM fund to Alternatives portfolio
7 Apr 2010
Skandia Investment Group (SIG) has added JPM Income Opportunity to its Skandia Alternative Investments fund, in place of its weighting to infrastructure.
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China prepares to remove currency peg, reports say
7 Apr 2010
The Chinese authorities are laying the groundwork to remove the renminbi’s currency peg and allow it to appreciate, reports say.
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F&C overhauls portfolio to improve performance
6 Apr 2010
Catherine Stanley has overhauled the £522m F&C Stewardship Growth fund since she took it over from Ted Scott in June 2009, aiming to improve performance.
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America delays report on trading partners ahead of G20 meetings
6 Apr 2010
Timothy Geithner, the American treasury secretary, is delaying a report to Congress on economic policies which was due on April 15.
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Irish bank crisis set to worsen when rate rises
5 April 2010
Ireland’s crisis-hit banks could face further problems as the European Central Bank (ECB) prepares to raise the rate at which it lends.
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Portfolio overhaul aims to boost performance
5 April 2010
Catherine Stanley has overhauled the £522m F&C Stewardship Growth fund since she took it over from Ted Scott in June 2009, aiming to improve performance.
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Manager focus: Ian Williams
30 Mar 2010
Charteris Treasury Portfolio Managers launched a gold fund earlier this month for Ian Williams, its chief executive officer. The fund can invest in exchange traded certificates (ETCs), exchange traded funds (ETFs), gold bullion or shares in gold mining companies.
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Greece to issue seven-year bond
29 Mar 2010
The Greek government is to issue a euro-denominated seven-year bond in a bid to address its budget deficit.
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Clarkson relinquishes Brown Shipley funds to join Co-operative
29 Mar 2010
Michael Clarkson has left his role as a senior fund manager at Brown Shipley to join the Co-operative Asset Management, handing his two funds to Peter Botham, the chief investment officer.
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Threadneedle’s latest hires take up posts
29 Mar 2010
Threadneedle’s four newest recruits have now taken up their posts at the group.
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Darling to modernise tax rules on investment trusts
29 March 2010
Alistair Darling, the chancellor of the exchequer, last week presented the final Budget ahead of the general election in May. Among the changes to stamp duty and Isa limits, Darling outlined several moves specific to the fund management industry.
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Dubai World to get $9.5bn bail-out
29 March 2010
The Dubai government last week announced a $9.5 billion (£6.4 billion) bail-out package for Dubai World, an investment company that runs projects for the government, and Nakheel, its property arm.
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Gam to launch onshore version of quant hedge fund
29 Mar 2010
Gam is preparing to launch an onshore Ucits III fund based on an offshore hedge fund strategy.
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OECD: Germany emerging from financial crisis
26 Mar 2010
Germany has suffered as an exporter following the breakdown of international trade during the credit crisis, but is now regaining strength, according to the Organisation for Economic Cooperation and Development (OECD).
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Bedlam relaunches global income product
26 Mar 2010
Bedlam Asset Management is relaunching the former Bedlam 200 fund as the Bedlam Global Income fund.
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Liontrust’s assets fall further in first quarter
25 Mar 2010
Liontrust Asset Management has seen a further decline in its assets under management continue in the first quarter of the year, down to £1.16 billion, according to a trading update released today.
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Analysis: The Budget 2010
24 Mar 2010
Alistair Darling, the Chancellor of the Exchequer, today presented what may be his last Budget, ahead of the general election in May.
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Brazil ponders plugging tax loopholes
23 Mar 2010
Brazil could become less attractive to foreign investors as its government considers proposals to close loopholes in the tax system and prevent further appreciation of the real.
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Inflation falls to 3% in February
23 Mar 2010
Annual inflation on the Consumer Prices Index (CPI) was 3% in February, down from 3.5% in January, according to the latest figures from the Office for National Statistics (ONS).
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Aberdeen plans emerging market debt portfolio
22 March 2010
Aberdeen Asset Management is preparing to launch an onshore emerging market debt fund for Brett Diment, the head of emerging market fixed income.
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Bank points to causes of price shift
22 March 2010
Changes in earnings expectations, a higher equity risk premium, and policy actions by governments and central banks were responsible for the large shifts in equity prices since mid-2007, according to the Bank of England’s latest Quarterly Bulletin.
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Invesco fund rotates sector exposure
22 March 2010
Paul Boyne, a global equities specialist at Invesco Perpetual, has increased exposure to cyclical stocks and financials in his Global Equity Income fund, while reducing positions in telecoms and utilities.
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Aberdeen to launch onshore emerging market debt fund
19 Mar 2010
Aberdeen Asset Management is preparing to launch an onshore emerging market debt fund for Brett Diment, the head of emerging market debt.
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HSBC to launch European absolute return fund
17 Mar 2010
HSBC Global Asset Management is planning to launch a Ucits III European absolute return fund in April.
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Aviva drops euro hedge from European Property
16 Mar 2010
Aviva Investors has dropped the euro hedge from its €195m (£177m) European Property fund.
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Manager focus: Paul Boyne
16 Mar 2010
Invesco Perpetual’s Paul Boyne, a global equities specialist, has increased his exposure to cyclical stocks and financials in his Global Equity Income fund, while cutting positions in telecoms and utilities.
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M&G hands three bond funds to Riddell
15 Mar 2010
Mike Riddell has taken over the lead management of three M&G fixed income portfolios from Jim Leaviss.
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Shareholders to vote on wind up of Advance UK Trust
15 Mar 2010
The Advance UK Trust has suspended trading pending a shareholder vote on the whether to wind up the company.
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Schroders in European equity hedge offering
15 Mar 2010
Schroders is bringing a European equity hedge fund into the British market within a Ucits III wrapper.
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Aviva drops euro hedge from European Property
15 March 2010
Aviva Investors has dropped the euro hedge from its €195m (£177m) European Property fund.
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Flexibility lends attraction to strategic bond funds
15 March 2010
Retail sales of strategic and tactical bond funds have increased dramatically as investors look for new areas of value in the fixed income market.
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Research casts doubt on retail Ucits for hedge funds
15 March 2010
Ucits III hedge funds may not be ’fit for purpose’ for retail investors, according to leading practitioners.
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Schroders in European equity hedge offering
15 March 2010
Schroders is bringing a European equity hedge fund into the British market within a Ucits III wrapper.
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Henderson TR Pacific sees 60% NAV growth
10 Mar 2010
The Henderson TR Pacific investment trust saw its net asset value (NAV) grow by almost 60% over the year to December 31, 2009, according to its annual results released today.
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Himsworth loosens shackles in pursuit of growth
9 Mar 2010
Leigh Himsworth, Gartmore’s recently appointed head of UK equities, has completely turned over the holdings in his two funds since joining the firm in September.
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Manager focus: Tony Lanning
8 Mar 2010
Tony Lanning, Gartmore’s head of multi-manager, latest major asset allocation shift has been moving his funds’ assets out of investment grade corporate bonds and into strategic bond funds.
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Ex-Fidelity Palmer joins Legg Mason
8 Mar 2010
Mark Palmer has joined Legg Mason Global Asset Management as the director of business development for the UK.
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Invesco Perpetual mulls Asian equity launches
8 Mar 2010
Invesco Perpetual is considering adding two new products to its Asian equities fund range.
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Behaviour insights give team the upper hand
8 March 2010
Ross Hollyman of Liontrust talks to Hannah Smith about strategies and plans for European equity funds.
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Funds' cash weightings drop to 18-month low
8 March 2010
Multi-managers’ cash positions are at their lowest level for 18 months, showing that confidence is increasing, according to research from Defaqto.
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Greek issue fails to mollify sceptics
8 March 2010
The Greek government raised €5 billion (£4.5 billion) through an issue of 10-year bonds last week, sparking renewed optimism for the economy. However, some fixed income managers warn that its troubles are not yet over.
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Invesco mulls Asian equity launches
8 March 2010
Invesco Perpetual is considering adding two new products to its Asian equities fund range.
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Money market funds hit by switch to equities
8 March 2010
Money market funds have struggled to recover from the effects of the credit crisis, suffering net outflows over the past couple of months as investors have switched into equity funds.
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Schroders reports record inflows
4 Mar 2010
Schroders revealed its annual results today, showing the group took a record £15 billion of inflows in the year to December 31, 2009.
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Greece reveals austerity measures to deal with debt crisis
3 Mar 2010
The Greek government has introduced measures to deal with its debt crisis, including tax rises and public spending cuts.
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Manager focus: Adrian Bignell
3 Mar 2010
Invesco Perpetual’s Adrian Bignell remains defensively positioned on his European Smaller Companies fund, although he is optimistic on the recovery prospects for the region.
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Isa season sales boost property funds
2 Mar 2010
Property funds saw the largest increase in sales through Isas in February, according to figures from the Skandia Investment Solutions platform.
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Multi-manager cash levels hit 18-month low
2 Mar 2010
Multi-managers’ cash positions are at their lowest level in 18 months, showing confidence is increasing, according to research from Defaqto.
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Ailing Spain ‘unlikely to get bail-out’
1 March 2010
Spain will be the next economy to follow in the footsteps of disaster-stricken Greece, but is unlikely to receive a bail-out, according to Wolfgang Münchau, the director of Eurointelligence and an associate editor of the Financial Times.
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Intuition bad for money decisions, says expert
1 March 2010
Intuitive decision-making hinders people from making the right investment choices, David Adler, a behavioural finance expert and author told the investment summit.
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LGIM aims high with Absolute funds
1 March 2010
Legal & General Investment Management’s (LGIM) new European Absolute and UK Absolute funds, launched last week, will target an annual return of at least 10%.
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Strategist warns of bubbles in commodities and bonds
1 March 2010
A bubble on the scale of the technology sector in 2000 is emerging in the commodities sector, Ian Harnett, the managing director of European strategy at Absolute Strategy Research, told delegates at the Fund Strategy Investment Summit in Barcelona last week.
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Investment Summit: Trusting gut inhibits investors, says expert
26 Feb 2010
Intuitive decision-making hinders people from making the right investment choices, says David Adler, a behavioural finance expert and author.
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Investment Summit: Global strategist warns of commodity bubble
25 Feb 2010
A bubble on the scale of the technology sector in 2000 is emerging in the commodities sector, says Ian Harnett, the managing director of European strategy at Absolute Strategy Research.
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Investment Summit: “Spain facing decades of recession”, says economist
24 Feb 2010
Spain will be the next economy to follow in the footsteps of disaster-stricken Greece, but is unlikely to receive a bailout, says Wolfgang Münchau, the director of Eurointelligence and associate editor of the Financial Times.
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LGIM launches two absolute return funds
23 Feb 2010
Legal & General Investment Management (LGIM) has launched two new absolute return funds, European Absolute and UK Absolute.
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Legg Mason plans absolute return credit fund
22 Feb 2010
Legg Mason is preparing to launch a global credit absolute return strategy for Western Asset Management, one of its international subsidiaries, Fund Strategy understands.
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Lawlor joins S&W as Cragg steps down
22 Feb 2010
Philip Lawlor has joined Smith & Williamson (S&W) as an investment strategist, replacing Richard Cragg, who is retiring.
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Liontrust to launch credit fund for Thorp
22 Feb 2010
Liontrust is preparing to launch an absolute return bond fund for Simon Thorp, the head of fixed income at the firm, next week.
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GDP growth slightly up in developed countries
22 February 2010
Countries in the Organisation for Economic Cooperation and Development (OECD) area saw slight GDP growth in the fourth quarter of 2009, according to OECD figures released last week.
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Thorp to run new Liontrust vehicle
22 February 2010
Liontrust is preparing to launch an absolute return bond fund for Simon Thorp, the head of fixed income at the firm, next week.
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Unemployment and employment rates both fall in fourth quarter
22 February 2010
Britain’s unemployment rate has fallen slightly, according to labour market data released last week by the Office for National Statistics (ONS).
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Kate Barker to step down from MPC
19 Feb 2010
Kate Barker will step down from the Monetary Policy Committee (MPC) when her current term expires on May 31.
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Investec’s Seif leaves the firm
18 Feb 2010
Amr Seif, Investec Asset Management’s Middle East and North Africa specialist, is leaving the firm.
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MPC minutes show members unanimous on halting QE
18 Feb 2010
Monetary Policy Committee (MPC) members voted unanimously to halt quantitative easing at the £200 billion mark, according to the minutes of meetings on February 3 and 4, released today.
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VAM Funds brings product range to British market
18 Feb 2010
VAM Funds, a specialist investment boutique, is bringing eight funds from its Luxembourg range into Britain, as part of its expansion into the retail market.
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Knickers to the job market
17 Feb 2010
The number of Britons out of work has fallen, according to ONS figures released today.
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Britain’s unemployment rate dips
17 Feb 2010
Britain’s unemployment rate has fallen slightly, according to labour market data released today by the Office for National Statistics (ONS).
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Ashmore Global Opps trust goes to continuation vote
17 Feb 2010
The board of the Ashmore Global Opportunities investment trust is proposing to wind up, reorganise, or restructure the company, following a year in which the trust has traded on a discount to net asset value (NAV).
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OECD countries record slight GDP rise in fourth quarter
17 Feb 2010
Countries in the Organisation for Economic Co-Operation and Development (OECD) area saw slight GDP growth in the fourth quarter, according to the OECD’s latest figures.
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Emerging markets gain ground on Vantage platform
16 Feb 2010
Several emerging market funds appeared in the bestseller list on Hargreaves Lansdown’s Vantage platform in January, alongside the enduringly popular equity income offerings.
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Hamptons launches property fund series
15 Feb 2010
Hamptons International, a residential property agent, has launched its first fund series, called Nanofunds.
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Ex-Origin co-founder joins DSP
15 Feb 2010
Dalton Strategic Partnerships (DSP) has added to its global equity team with the appointment of Nick Mottram.
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LGIM prepares to launch absolute return duo
15 Feb 2010
Legal & General Investment Management (LGIM) is preparing to add two absolute return products to its stable at the end of the month.
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AllianceBernstein unveils global fund
15 February 2010
AllianceBernstein has launched a Global Thematic Research portfolio for Catherine Wood, the chief investment officer.
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LGIM prepares to launch absolute return duo
15 February 2010
Legal & General Investment Management (LGIM) is preparing to add two absolute return products to its stable at the end of the month.
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Managers turn to stockpicking funds
15 February 2010
Multi-managers are moving away from single country, sector and regional bets towards stockpicking funds to reflect their view that markets are stabilising.
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German GDP shows zero growth in fourth quarter
12 Feb 2010
Germany’s path out of recession hit a wall at the end of 2009, according to preliminary figures released last week.
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LVAM appoints chief investment officer
12 Feb 2010
Piers Hillier has joined LV= Asset Management (LVAM) as its chief investment officer.
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AllianceBernstein launches global thematic portfolio
11 Feb 2010
AllianceBernstein has launched a Global Thematic Research Portfolio investing in a range of stocks set to benefit from the theme of innovation.
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Property fastest growing seller on Cofunds
10 Feb 2010
The property sector saw the fastest increase in sales in January, according to the latest sales figures from the Cofunds platform.
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LGIM withdraws from active Japanese equities
9 Feb 2010
Legal & General Investment Management (LGIM) is withdrawing from actively managed Japanese equities following the departure of Andrew Nagele, the associate director, Japan, and his team.
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AIFM could cause “systemic failure”, says BoE committee
8 Feb 2010
The introduction of the AIFM (Alternative Investment Fund Management) directive could cause “systemic failure” of markets, according to the Bank of England’s Financial Markets Law Committee (FMLC).
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GLG rolls out hedged version of Japan fund
8 Feb 2010
GLG Partners has launched the GLG Japan CoreAlpha Equity fund, a currency-hedged replica of its £698m Japan CoreAlpha fund.
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Gartmore newcomer takes active approach to portfolio revamp
8 Feb 2010
Gartmore’s head of Asian equities, Jan de Bruijn, has revamped two funds he took over since joining the firm from Threadneedle in January.
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End of slump prompts Bank to withdraw cash aid and keep low rate
8 February 2010
The Bank of England has halted its £200 billion quantitative easing programme and has held the base rate at 0.5% for the eleventh month.
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Gartmore newcomer takes active approach to portfolio revamp
8 February 2010
Gartmore’s head of Asian equities, Jan de Bruijn, has revamped two funds he took over since joining the firm from Threadneedle in January.
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US credit rating at risk over deficit, Moody’s warns
8 February 2010
America faces the threat of losing its AAA credit rating if it does not address its budget deficit, Moody’s warned last week.
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Skandia’s Croucher joins Insynergy
4 Feb 2010
Steve Croucher, the former head of operations at Skandia, has joined Insynergy as the chief operating officer (COO).
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Ashby looking at quarterly dividends
2 Feb 2010
Graham Ashby, the head of UK equities at LVAM, is gauging market appetite for a new equity income fund paying dividends quarterly, along the lines of the American income model.
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Skandia cuts three managers from UK Strategic Best Ideas
1 Feb 2010
Skandia Investment Group (SIG) is cutting the number of managers in its UK Strategic Best Ideas fund from 10 to seven.
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RLAM converts unit trusts to Oeics
1 Feb 2010
Royal London Asset Management (RLAM) plans to convert four unit trusts to Oeics at the end of this month.
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Ashby looking at quarterly dividends
1 February 2010
Graham Ashby, the head of UK equities at LVAM, is gauging market appetite for a new equity income fund paying dividends quarterly, along the lines of the American income model.
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Greek crisis blamed for eurozone ‘ripple effect’
1 February 2010
The Greek government’s debt crisis is having a “ripple effect” on other markets in the eurozone, according to European bond fund managers.
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Schroder drops Japan from Asia fund
1 February 2010
Richard Sennitt, the manager of the Schroder Asian Income fund, has moved out of Japan as income opportunities in the country have proved harder to find.
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Gartmore unveils Japan Absolute Return fund
29 Jan 2010
Gartmore today launched the latest addition to its absolute return fund range, the Japan Absolute Return fund.
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Adviser focus: Alan Harris
28 Jan 2010
“Surely the raison d’etre of any unit trust is to protect existing investors? What they should have done is not embark on a programme of sales”
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Blue Sky rolls out High Income structured plan
27 Jan 2010
Blue Sky Asset Management is launching a new income-generating structured product linked to the FTSE 100.
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Manager focus: Richard Sennitt
27 Jan 2010
In December Schroders renamed its Far East Income fund and moved it into the Investment Management Association’s (IMA) Asia ex Japan sector. Richard Sennitt, the manager, sold the newly christened Asian Income fund’s entire Japanese equity holding, totalling 7% of the portfolio.
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Skandia adds Newton to European Best Ideas
26 Jan 2010
Skandia Investment Group (SIG) has handed part of its European Best Ideas mandate to Newton’s Raj Shant.
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GLG to launch Ucits III mirror of UK Alternative fund
25 Jan 2010
GLG Partners is preparing to launch a Ucits III version of its flagship UK Alternative fund, to be managed by Jason Mackay and John White.
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F&C Managed Portfolio Trust reveals half-year results
25 Jan 2010
The F&C Managed Portfolio investment trust of investment trusts revealed its half-yearly results today, showing it lagged its benchmark over the reporting period.
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Allianz to launch Dynamic Growth fund
25 Jan 2010
Allianz Global Investors plans to add a new product, the Allianz RCM Dynamic Growth fund, to its British product range in the first quarter.
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Heartwood expands multi-asset range
25 January 2010
Heartwood Wealth Management is preparing to add two new multi-asset offerings to its fund of funds range.
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Gartmore shareholders veto Japan fund merger
22 Jan 2010
Gartmore shareholders today voted against proposals to merge its £24m Japan Opportunities fund into the forthcoming Japan Absolute Return fund.
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GLG’s multi-manager head to step down
22 Jan 2010
Paul Harvey, the founder of GLG’s multi-manager business, is preparing to retire at the end of February.
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S&P: European bond managers embracing risk
21 Jan 2010
Fund managers in the European fixed interested sector saw their appetite for risk increase in 2009 after a cautious 2008, according to Standard & Poor’s (S&P).
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Heartwood adds to multi-asset fund range
21 Jan 2010
Heartwood Wealth Management is preparing to add two new multi-asset offerings to its fund of funds range.
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Manager focus: Julian Chillingworth
20 Jan 2010
After many months holding a bearish view on the prospects for the global economy, Julian Chillingworth, the chief investment officer of Rathbones, is taking a more positive stance.
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ONS releases 25-year review of Britain’s trade balance
19 Jan 2010
Britain’s total trade balance over the last 25 years has shown a strong cyclical pattern, despite structural changes to the economy, says the Office for National Statistics (ONS).
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CPI inflation rises to 2.9%
19 Jan 2010
The consumer price index (CPI) rose by its fastest ever rate between November and December 2009, according to the Office for National Statistics (ONS).
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Gartmore plans long/short Europe fund for Bennett
18 Jan 2010
Gartmore is preparing to launch a long/short pan-European fund for John Bennett and his team, its newest recruits.
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Invesco Perpetual launches bond fund for Read and Causer
18 Jan 2010
Invesco Perpetual is developing its open-ended fund range with the launch of a strategic bond fund for its two star fixed income managers.
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Newton updates fund name to reflect cautious stance
18 Jan 2010
Newton Investment Management is renaming its Equity & Bond fund and giving it a more cautious mandate, following a manager change late last year.
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Barings may close UK small-cap trust
18 January 2010
Barings Asset Management is considering closing its UK Smaller Companies Trust following the departure of the manager. Threadneedle announced last week that James Thorne had left his role at Barings to join its UK small-cap team.
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Skandia changes manager on US Large Cap Growth
15 Jan 2010
Skandia Investment Group (SIG) has switched the management of its Skandia US Large Cap Growth fund to a more aggressive asset manager in the view that the American economy is stabilising.
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Close AM tops 2009 best performer list on Vantage platform
13 Jan 2010
Hargreaves Lansdown has released its sales figures for 2009 on its Vantage fund platform, showing the top performing funds last year.
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Barings mulls UK Smaller Companies fund closure
12 Jan 2010
Barings is considering closing its UK Smaller Companies Trust following the departure of the manager.
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Ignis appoints head of fixed income
11 Jan 2010
Chris Fellingham has joined Ignis Asset Management as the chief investment officer, fixed income.
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Budget deficit must be tackled to save AAA rating, says Woodford
11 January 2010
There is a high probability of Britain losing its AAA rating if the government does not address the budget deficit, according to Invesco Perpetual’s Neil Woodford.
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Woodford: “High probability” Britain will be downgraded
8 Jan 2010
There is a high probability of Britain seeing its AAA rating downgraded if the government does not address the Budget deficit, according to Invesco Perpetual’s Neil Woodford.
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Aviva replaces Colwell on UK Income & Growth
7 Jan 2010
Aviva has appointed two co-managers on its UK Income & Growth fund following the departure of Richard Colwell, the former manager.
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F&C multi-managers add L&G to portfolio
7 Jan 2010
Dean Cheeseman, the head of retail multi management at F&C, and Paul Carne, a fund manager, have added a Legal & General fund to one of their multi-manager vehicles.
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British consumer confidence slips as job market improves
6 Jan 2010
Consumer confidence slipped back in December 2009, according to the latest Consumer Confidence Index survey from Nationwide.
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Fidelity to rename Sterling Bond fund
5 Jan 2010
Fidelity International has confirmed it is to change the name of its Sterling Bond fund on January 22.
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American manufacturing grows for fifth month
4 Jan 2010
America’s manufacturing sector saw its activity expand in December, according to the Institute for Supply Management (ISM).
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OBSR adjusts ratings of several funds
4 Jan 2010
Old Broad Street Research (OBSR) has made several changes to funds within its ratings service.
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Barclays Wealth releases next plan in Target Growth series
4 Jan 2010
Barclays Wealth is reissuing its Target Growth Plan structured product with changes to its payoff and capital protection structure.
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Jupiter to launch European Absolute Return Sicav
18 Dec 2009
Jupiter Asset Management is planning to launch a European Absolute Return fund for managers Cédric de Fonclare and Stephen Pearson.
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Commodities best closed-ended sector of 2009, says AIC
18 Dec 2009
Commodities and natural resources funds have been the best performers in the closed-ended space over 2009, according to the Association of Investment Companies (AIC).
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Finsbury Growth & Income Trust to broaden remit
18 Dec 2009
The Finsbury Growth & Income Trust saw its net asset value (Nav) rise 24% over the year to September 30, 2009, according to its annual results, released today, and the trust’s board is proposing a change to its investment policy.
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AIC poll reveals managers optimistic on 2010
17 Dec 2009
Investment trust managers seem to be upbeat on the prospects for 2010, with 58% predicting the FTSE 100 will end the year between 5,500 and 6,000, and tipping gold, resources and emerging markets as the star investments for the year, according to the Association of Investment Companies (AIC).
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Petrol drives inflation higher in November
15 Dec 2009
Consumer Price Index (CPI) inflation rose 1.9% in November, driven by the transport sector.
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Manager focus: Hugh Hendry
14 Dec 2009
Hugh Hendry at Eclectica is the latest manager to launch a Ucits III-packaged version of a hedge fund strategy. However, the manager is highly critical of the trend towards ‘me-too’ absolute return products that has emerged this year.
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America's GDP growth may hit 8% in 2010 says Legg-Mason's Miller
14 December 2009
America’s GDP could grow by up to 8% in 2010, dwarfing consensus estimates, says Bill Miller of Legg Mason.
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Hendry savages long/short ‘greed’
14 December 2009
Hugh Hendry at Eclectica is the latest manager to launch a Ucits III version of a hedge fund strategy, but is highly critical of the trend towards “me-too” absolute return products that emerged this year.
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Jupiter pair give views on value stocks in 2010
14 December 2009
Two of Jupiter’s best-known managers provided their views on the British stockmarket last week, pointing to opportunities in equity markets where valuations have taken a nosedive.
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Bill Miller: US GDP growth could hit 8% in 2010
9 Dec 2009
America could see its GDP grow by up to 8% in 2010, dwarfing consensus estimates, says Bill Miller of Legg Mason.
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British retail sales slow in November
8 Dec 2009
British retail sales slowed in November, as uncertainty over future government spending cuts and tax hikes hit consumer confidence, according to the British Retail Consortium (BRC).
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Japan rolls out £49 billion stimulus package
8 Dec 2009
The government of Japan has pledged a ¥7.2 trillion (£49 billion) stimulus package to prevent the country’s economy from sliding back into recession.
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Jupiter’s Gibbs: “The name of the game is recovery”
8 Dec 2009
Valuations in financials are compelling, with stocks in the sector having fallen 50% from their peak and poised to benefit from global economic recovery, says Jupiter’s Philip Gibbs.
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Cofunds: European funds could dominate in 2010
7 Dec 2009
Europe could be the dominant theme going into next year, as money begins to flow back into the asset class, according to Cofunds.
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Skandia completes migration of client accounts
7 Dec 2009
Skandia has migrated its client accounts from its old Skandia MultiFunds platform to Skandia Investment Solutions (SIS).
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Premier to refocus Absolute Growth fund
7 Dec 2009
Premier Asset Management plans to refocus and rename its Absolute Growth fund into a cautious mandate following the departure of Paul Branigan, the former manager.
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Miton directors scrap buyout plan
7 Dec 2009
The directors of Miton Asset Management are no longer pursuing a management buyout of the business.
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Darling’s tax plans to hit the wealthy
7 December 2009
Alistair Darling, the Chancellor of the Exchequer, is expected to unveil several tax rate increases targeting Britain’s wealthiest people this week when he presents his pre-Budget report (PBR).
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Miton directors scrap buyout plan
7 December 2009
The directors of Miton Asset Management are no longer pursuing a management buyout of the business.
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Management change on Directors’ Dealing Investment Trust
4 Dec 2009
The board of the Directors’ Dealing Investment Trust (DDIT) has handed the management of the vehicle from Knox D’Arcy Asset Management to Midas Investment Management.
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Swip buys Aviva property portfolio for £260m
4 Dec 2009
Scottish Widows Investment Partnership (Swip) Property Trust has bought a 12-property portfolio from Aviva Investors for £260m.
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Ignis changes name of Cartesian 130/30 fund
3 Dec 2009
Ignis International Funds is changing the name of its Cartesian UK Equity 130/30 fund to better reflect its investment objective.
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Midas Capital to sell wealth management arm
3 Dec 2009
Midas Capital is selling its entire wealth management business, including iimia Wealth Management, to Jardine Lloyd Thompson (JLT).
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Monks Investment Trust boosted by emerging market exposure
2 Dec 2009
The Monks Investment Trust released its half-yearly results today, showing a 20.8% rise in net asset value (NAV) per share over the six months to October 31, 2009.
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Edinburgh Worldwide Trust reveals annual results
2 Dec 2009
The Edinburgh Worldwide Investment Trust saw its net asset value (NAV) per share rise by almost 50% over the year to October 31, according to its annual results, released today.
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Premier plans to extend life of Energy & Water Trust
1 Dec 2009
Premier Asset Management is proposing to extend the life of its Premier Energy & Water Trust following discussions with shareholders.
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BlackRock BGI merger completed
1 Dec 2009
BlackRock has completed its takeover of Barclays Global Investors (BGI), the group announced today.
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Gam adds currency fund to Ucits range
1 Dec 2009
Gam has added an emerging market debt and currency fund to its Ucits III fund range.
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Skandia hands UK Equity Blend mandate from Origin to Schroders
1 Dec 2009
Skandia Investment Group (SIG) has changed the asset allocation on its UK Equity Blend fund, handing a £150m mandate from Origin Asset Management to Schroders.
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OBSR reveals monthly ratings changes
30 Nov 2009
Old Broad Street Research (OBSR) has published the latest changes to funds within its rating service.
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Fidelity plans multi-asset launches
30 Nov 2009
Fidelity International is planning two new products for Trevor Greetham, its asset allocation director and multi-asset specialist.
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Bolton prepared to cap Fidelity China fund assets
30 Nov 2009
Anthony Bolton says he would consider placing a cap on his forthcoming Fidelity China fund if inflows exceed expectations.
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‘Japanese-style deflation threat’ to US
30 November 2009
America faces a deflationary threat on a par with that of Japan, warns John Chatfeild-Roberts, the director of independent funds at Jupiter.
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Bolton prepared to cap Fidelity China fund assets
30 November 2009
Anthony Bolton says he would consider placing a cap on his forthcoming Fidelity China fund if inflows exceed expectations.
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Expert casts doubt on revival of split capital market
30 November 2009
It is too early to claim that split capital investment trusts are making a significant comeback, despite favourable market conditions, says Charles Cade, the director of investment companies research at Numis Securities.
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Gartmore re-opens Guy’s absolute return fund
30 November 2009
Gartmore has temporarily re-opened its European Absolute Return fund to new investment.
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IMF urges advanced economies to retain safeguards
30 November 2009
The global economy is recovering but remains fragile, says Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF).
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Gartmore lifts cap on Guy’s European Absolute Return
26 Nov 2009
Gartmore has temporarily re-opened its European Absolute Return fund to new investment.
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Chatfeild-Roberts: US on path to Japan-style deflation
25 Nov 2009
Jupiter’s director of independent funds, John Chatfeild-Roberts, has warned that America is facing a deflationary threat on par with that of Japan.
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Liontrust to “rebuild” as assets fall further
25 Nov 2009
Liontrust has seen its assets under management shrink by more than two-thirds between 2008 and 2009 but Nigel Legge, the chief executive, remains upbeat, saying the company is “rebuilding” after a difficult year.
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Global economy “still vulnerable”, warns IMF chief
24 Nov 2009
The global economy is recovering but remains highly vulnerable, says Dominique Strauss-Kahn, the managing director of the International Monetary Fund (IMF).
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Hargreaves removes SVM fund from Wealth 150
24 Nov 2009
Hargreaves Lansdown has removed SVM UK Opportunities from its Wealth 150 list of recommended funds following the manager’s decision to use shorting.
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Gilliat launches FTSE 100-linked structured product
24 Nov 2009
Gilliat Financial Solutions has launched a new structured product, the Gilliat Kick-Out Growth Series.
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Swip adds to government bond team
23 Nov 2009
James Taylor has joined Scottish Widows Investment Partnership (Swip) as an investment director, government bonds.
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Gartmore to reduce debt with flotation
23 November 2009
Gartmore has confirmed it intends to float on the London Stock Exchange by Christmas, subject to market conditions.
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Miton plans to merge Liddle's income funds
23 November 2009
Miton Asset Management is planning to merge away its Cautious Income fund of funds in the next few months, subject to regulatory approval.
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MPC members divided on quantitative easing
19 Nov 2009
Seven members of the Monetary Policy Committee (MPC) voted to increase the Bank of England’s quantitative easing programme by £25 billion, according to the minutes of the meetings on November 4 and 5, released today.
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Britain’s budget deficit worse than expected in October
19 Nov 2009
Britain’s budget deficit has risen to £7.7 billion, with net borrowing at almost 60% of GDP, according to figures from the Office of National Statistics (ONS) released today.
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JPMorgan finalises £1 billion Cazenove deal
19 Nov 2009
JPMorgan Chase has announced plans to buy out the rest of the shares in JPMorgan Cazenove, its joint venture with Cazenove Group, in a $1.7 billion (£1 billion) deal.
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Wins makes predictions ahead of FTSE rebalancing
18 Nov 2009
Wins Investment Trusts has revealed its predictions for the next review of British FTSE indices.
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Miton to merge away Cautious Income fund
18 Nov 2009
Miton Asset Management is planning to merge away its Cautious Income fund of funds in the next few months.
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Analysis: Gold price rockets as dollar weakens
17 Nov 2009
The price of gold hit a new peak last week, rising above $1100 (£659) an ounce as the dollar weakened.
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Reshuffle of regional stocks benefits British Assets Trust
16 Nov 2009
The British Assets investment trust delivered a net asset value (NAV) total return of 13.8% over the year to September 30 following changes to its emerging market holdings, according to the fund’s annual results released today.
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Armstrong IM launches flagship multi-asset fund
16 Nov 2009
Ana Cukic Armstrong and Patrick Armstrong are preparing to launch the first product from Armstrong Investment Managers (AIM), their new multi-asset boutique.
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Armstrong IM launches flagship multi-asset fund
16 November 2009
Ana Cukic Armstrong and Patrick Armstrong are preparing to launch the first product from Armstrong Investment Managers (AIM), their new multi-asset boutique.
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Gold price rockets as dollar weakens
16 November 2009
The price of gold hit a new peak last week, rising above $1100 (£659) an ounce as the dollar weakened.
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OBSR revises several fund ratings
10 Nov 2009
Old Broad Street Research (OBSR) has altered the ratings on several funds and awarded new ones.
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Fund sales beat expectations, says Lipper
10 Nov 2009
Third quarter fund sales beat industry expectations, driven by low interest rates and a rising stockmarket, according to Lipper FMI.
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SLI’s Equity Income Trust reveals year-end results
9 Nov 2009
Karen Robertson’s Standard Life Equity Income Trust saw its net asset value (NAV) rise 6.8% over the year to September 30, according to its annual financial report.
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Shore Capital launches sixth VCT
9 Nov 2009
Shore Capital has launched a high income venture capital trust (VCT).
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Barings withdraws from UK equity income sector
9 Nov 2009
Barings has closed its Equity Income Trust and is withdrawing from the UK equity income sector of the market.
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Gam plans fund revamp and new product in retail move
9 Nov 2009
Gam is preparing to repackage one of its offshore hedge funds as a Ucits III offering for retail investors, and is launching a completely new product.
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Bank pumps a further £25bn into economy
9 November 2009
The Bank of England is pumping another £25 billion into Britain’s economy as part of its quantitative easing programme.
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Gam plans fund revamp and new product in retail move
9 November 2009
Gam is preparing to repackage one of its offshore hedge funds as a Ucits III offering for retail investors, and is launching a completely new product.
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Lloyd George creates GEM fund for Langridge
9 November 2009
Lloyd George Management has launched a global emerging markets (GEM) fund for Kathryn Langridge.
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Spotlight shines on equities despite slow growth signs
9 November 2009
Fund managers are keeping faith in British equities despite predicting anaemic growth for the stockmarket and the economy in the next few years.
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Bank of England pours extra £25 billion into economy
5 Nov 2009
The Bank of England’s Monetary Policy Committee (MPC) is pumping another £25 billion into Britain’s economy as part of its quantitative easing programme.
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Lloyd George launches GEM fund for Langridge
5 Nov 2009
Lloyd George Management has launched a global emerging markets (GEM) fund for Kathryn Langridge.
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Sentiment on property hits two-year high
4 Nov 2009
Financial advisers are more positive on property than they have been for the last two years, research from the trade body Reita shows.
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McNulty joins JPMorgan
4 Nov 2009
Andy McNulty, the former head of UK retail sales at Legg Mason, has joined JPMorgan Asset Management’s regional sales team.
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Manager focus: Philip Ehrmann
3 Nov 2009
China’s domestic economy is on course to achieve GDP growth of 8% in 2009 and potentially 9% in 2010, following the authorities’ steps to quite deliberately change the character of the country’s economy.
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Manager focus: Barry MacLennan
2 Nov 2009
The outlook for the property sector has begun to improve after a tough couple of years, but investors have to compete with foreign buyers for the limited assets that are available on sensible valuations.
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JPM poaches Fortis emerging market debt team
2 Nov 2009
JPMorgan has boosted Bob Michele’s fixed income team with the appointment of three emerging market debt specialists from Fortis Investments.
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BNY Mellon completes Insight deal
2 Nov 2009
BNY Mellon has completed its acquisition of Insight Investment Management, the firm announced today.
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Brown Advisory adds to American equity range
2 Nov 2009
Brown Advisory today launched a US Equity Growth fund for Kenneth Stuzin, to be managed from its American offices.
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Investment fund sales hit new peak
2 November 2009
Retail sales of investment funds hit a new peak this year despite the longest British recession on record, according to the latest figures from the Investment Management Association (IMA).
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Newton revamps European High Yield Bond fund
2 November 2009
Newton is changing the name and objective of its European High Yield Bond with immediate effect.
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US out of recession but consumers' fears rise
2 November 2009
America has emerged from its year-long recession, the latest figures from the US Bureau of Economic Analysis (BEA) indicate, although consumer confidence remains weak.
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Aberdeen Growth Opportunities VCT seeks name change
30 Oct 2009
Aberdeen intends to change the name of its Growth Opportunities Venture Capital Trust (VCT) following a management buyout of the vehicle.
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Skandia makes two senior sales appointments
30 Oct 2009
Skandia has promoted two of its sales force to senior roles within the team.
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American recession ‘over’
29 Oct 2009
America has emerged from its year-long recession, the latest figures from the US Bureau of Economic Analysis (BEA) indicate.
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Newton renames European High Yield Bond
29 Oct 2009
Newton is planning to change the name and objective of its European High Yield Bond on November 2.
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Jupiter shareholders approve split-cap merger
29 Oct 2009
Jupiter shareholders have approved plans to merge three split-capital investment trusts into a single vehicle to be run by Philip Gibbs.
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Manager focus: Nick Brind
29 Oct 2009
There are still opportunities to generate income from the financial sector despite banks slashing their dividends, says Nick Brind, the manager of the newly-launched HIM Income fund.
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SLI reports positive net inflows in third quarter
29 Oct 2009
Standard Life Investments (SLI) saw its assets under management increase by over £15 billion in the third quarter, according to its interim results released today.
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JPM Japan removed from Wealth 150
28 Oct 2009
Hargreaves Lansdown has removed JPMorgan Japan from its Wealth 150 list of recommended funds.
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Retail fund sales at record levels, says IMA
28 Oct 2009
Retail sales of investment funds hit a new peak this year despite the longest British recession on record, according to the latest figures from the Investment Management Association (IMA).
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British high street shows signs of recovery, says CBI
27 Oct 2009
Retail sales on the British high street saw modest growth in the year to October, its most positive rate since the start of the credit crisis.
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S&W to merge two Deptford funds
27 Oct 2009
Smith & Williamson is planning to merge two of Charlie Deptford’s funds in a bid to create an unconstrained UK equity mandate.
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Jupiter unveils Gibbs’ new funds
27 Oct 2009
Jupiter Asset Management has unveiled details of the two products it has planned for Philip Gibbs.
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Hammerson leaves Swip’s European desk
27 Oct 2009
Rory Hammerson, a European specialist at Scottish Widows Investment Partnership (Swip), has left the group to pursue other opportunities in the industry.
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Barings opens emerging equity fund to retail market
26 Oct 2009
Barings has added a retail share class to its Emerging Markets fund, making it available to retail investors for the first time.
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Barclays buys Standard Life Bank in £226m deal
26 Oct 2009
Barclays has agreed to acquire Standard Life Bank in a deal worth £226m.
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Aramid launches multi-asset fund
26 Oct 2009
Aramid Asset Management and Thomas Funds are launching the Aramid All Asset Capital Preservation fund. The vehicle is an unregulated exchange-traded fund offering hedged exposure to commodities, equities and fixed income.
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Aberdeen soft-closes emerging markets range
26 October 2009
Aberdeen is soft-closing its global emerging markets (GEM) product range following strong inflows.
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Gartmore plans hedge fund for De Bruijn
26 October 2009
Jan de Bruijn is to join Gartmore in the newly-created role of head of Asian equities as the group looks to expand its product range.
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Rename for Schroder fund as it drops Japan
26 October 2009
Schroders is changing the name of its Far East Income fund and revising its remit to exclude Japan.
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Amundi joint venture unveiled
23 Oct 2009
Crédit Agricole SA and Société Générale have finalised the merger of their asset management businesses.
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Manager focus: Paul Read
22 Oct 2009
The best opportunities in the fixed income market are in high yield and financials, according to Invesco Perpetual’s Paul Read.
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Schroders changes Far East Income mandate
22 Oct 2009
Schroders is changing the name of its Far East Income fund and revising its remit to exclude Japan.
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Cautious managed popularity growing, says Cofunds
22 Oct 2009
Cautious managed funds remained the second most popular on the Cofunds platform in the third quarter, just behind corporate bond funds, according to sales figures released today.
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Barclays Wealth reissues three products
21 Oct 2009
Barclays Wealth is reissuing three of its structured products - the Minimum Return Plan, Regular Income Bond and UK Super Tracker.
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Veritas appoints head of British private client business
21 Oct 2009
Mark Rayward is leaving Newton to head up Veritas Asset Management’s British private client business.
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MPC unanimous on interest rate decision
21 Oct 2009
The Bank of England’s Monetary Policy Committee (MPC) has voted unanimously to hold the Bank Rate at 0.5%.
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Gartmore plans Asian hedge fund for latest hire
21 Oct 2009
Jan de Bruijn is to join Gartmore in the newly-created role of head of Asian equities as the group looks to expand its product range.
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King accuses bankers of “playing with fire”
21 Oct 2009
Mervyn King, the governor of the Bank of England, is advocating a serious review of regulation in the sector to prevent a repeat of the chaos of recent months.
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Julius Baer opens natural resources fund to British investors
20 Oct 2009
Julius Baer has opened its $139m (£85m) Natural Resources fund to British retail investors.
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Management reshuffle at BlackRock
20 Oct 2009
Alex Hoctor-Duncan has been appointed head of Europe, Middle East and Africa (EMEA) retail sales in a management reshuffle at BlackRock.
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Woodford funds still top on Vantage platform
19 Oct 2009
Neil Woodford’s funds remain in the top 10 best sellers on the Hargreaves Lansdown Vantage platform, although they fail to feature among the 10 best performers.
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Aberdeen soft closes GEM range
19 Oct 2009
Aberdeen is soft-closing its global emerging markets (GEM) product range following strong inflows.
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F&C Private Equity Trust proposes ZDP issue
19 Oct 2009
F&C plans to issue zero dividend preference (ZDP) shares with the aim of raising £30m for its Private Equity Trust.
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Imbalances ‘set to be Europe’s toughest challenge’
12 October 2009
European governments face tough challenges over the next three to five years to resolve imbalances in the region, says Iain Begg, a professorial research fellow at the London School of Economics.
