Investment Adviser back issues from October 2002:
French link bonds to eurozone inflation.(government bonds)(Brief Article)
Oct 07, 2002 ... The French government has launched bonds linked to the eurozone inflation rate. The issue is expected to be popular with international bond fund managers. Richard Stevens, head of government bonds for Isis, said there had been a flight to quality away from equities ...
Close Bros Isa targets UK property investors; Income-generating Isa will feature strong industrial bias, targeting capital growth.(Brief Article)
Oct 07, 2002 ... By Sam Dunn CLOSE Brothers Investment is to launch an income-generating Isa investing in commercial property across the UK. Actively managed by Peter Roscrow, it will carry gearing, feature a strong industrial bias and also target capital growth. The ...
Investors err on the side of caution.(Brief Article)(Statistical Data Included)
Oct 07, 2002; ... By Simoney Girard Caution rules as 72 per cent of IFA clients demand protected and cautious products, according to Axa. IFAs are seeing a rise in demand for structured and capital protected products as markets continue to fall. The Axa report said 38 per ...
Appointments.(Bridgewell Securities hires John Dean, Henderson Global Investors hires David Courtney)(Brief Article)
Oct 07, 2002 ... Bridgewell Securities has appointed John Dean as engineering sector equity research analyst. Mr Dean joins from UBS Warburg, where he was global co-ordinator of Energy Technology Research. He previously led the small and mid-cap engineering team for UBS Warburg. Prior to that, he was head ...
Diary.
Oct 07, 2002 ... Riding high with Henderson The guys at Henderson had a "whale of a time" at their last corporate entertainment event, according to Iain Evans, unit trust sales manager at the fund management house. Members of the investment sales team spent an afternoon racing around on mini ...
Managers see value in South African equities; Dividend yield for some South African shares now approaching 4.2 per cent.(Brief Article)(Statistical Data Included)
Oct 07, 2002; ... By Dan Bloch CHEAP valuations make South African investments more attractive than two years ago, according to fund managers. Investors shunned South Africa form 1999 to 2000 on concerns over Aids, sluggish growth of about 2.5 per cent and the crisis in Zimbabwe. ...
SLI moves to scotch property bubble fears.(investor relations for Standard Life Investments)(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... COMMERCIAL property is still a good investment, according to Standard Life Investments. The company is anxious to reassure investors that commercial property is an attractive opportunity. At the peak of its last cycle in late 1980s, commercial property, in real ...
SVM UK Opps cuts down exposure to house builders.(SVM UK Opportunities fund takes money out of home buildres)(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... The SVM UK Opportunities fund is taking money out of house builders, who have had a "fairly good run". David Stevenson, manager of the SVM UK Opportunities fund, said he had trimmed exposure in stocks such as house builder Persimmon. "We have reduced the holding from a 3.5 per ...
Shares valuations start to shine.(Brief Article)
Oct 07, 2002 ... THE potential for war in Iraq and a cut back in analysts forecasts have pushed valuations to far more attractive levels. Ian McLeish, fund manager of Scottish Investment Trust, said in recent weeks economists have reduced their expectations of world economic growth in 2002 and ...
Gam fund bets on tech shares; Gam Star American Focus fund buys more cyclical stocks.
Oct 07, 2002; ... By ASHUTOSH KUMAR IN A "brave move", the Gam Star American Focus fund is increasing its focus on technology and cyclical stocks. The fund has also reversed its bias away from consumer staples and other stocks that are prime beneficiaries of a further decline in ...
British millionaires lose GBP45bn in past 6 months.(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... BRITISH millionaires lost nearly GBP45bn in equities in the past six months, according to Tulip Financial Research. The wealth research specialists conclusion was based on a sample of 202 British millionaires interviewed from 5-17 August. Respondents all had minimum ...
VCT market in the doldrums; Poor equity returns signal a lack of launches this season.(venture capital company forecasts)
Oct 07, 2002 ... By Sam Dunn VENTURE capital trust C-share issues have marked the start of what is expected to be a poor VCT season. The absence of new VCTs reflects the paucity of capital gains made from equity markets in the past 12 months. IFA Bestinvest is to start ...
Only two-fifths of adults in UK are saving survey.(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... ONLY two fifths of adults in the UK are saving regularly, according to Abbey National research. Furthermore, Isa investors in the UK are losing GBP300m worth of tax-free interest, according to Inland Revenue figures. Half of all the 9m Isa savers in the UK deposit ...
New Bristol & West income bond.(Global Income and Growth Bond seven-year investment product)(Brief Article)
Oct 07, 2002 ... BRISTOL & WEST has unveiled its Global Income and Growth Bond seven-year investment product. Investors can place up to 50 per cent of the sum invested in the fixed income element of the product the Income Bond. Investors get a monthly income of 5.84 per cent gross for ...
HSBC to launch funds of funds.(HSBC Bank)(Brief Article)
Oct 07, 2002 ... HSBC Bank is expected to launch three funds of funds after Christmas. Malcolm Prince, senior investment manager, said the funds will be sold through HSBCs financial planning network in its branches. No decision has yet been taken to open the funds to outside ...
Investors desert European funds; Europe ex-UK records net outflow of GBP61.9m in August.(except United Kingdom)(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... By Simon Falush INVESTORS have been fleeing European equity funds. IMA figures show a net outflow of GBP61.9m from Europe excluding UK funds for the month of August, leaving gross sales at GBP158.8m for the month. This marks a turnaround, as there has been ...
Government bonds are dinosaurs of investment.(warns ISIS Asset Management)(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... ISIS Asset Management has warned investors to avoid gilts, claiming they are a "dinosaur" of the investment world. Robert Talbut, chief investment officer at Isis, wrote in an Isis update, When Dinosaurs Ruled the Earth, that government bonds returned on average only 1 per cent ...
Aberdeen is bottom of equity income sector over five years; Exeter High Income fund and Lincoln Income fund runners up in the underperfomance stakes.(Brief Article)
Oct 07, 2002 ... By Ashutosh Kumar THE Aberdeen Fund of Investment Trusts has emerged as the worst-performing equity income fund in the UK. Aberdeens name emerged following a review of the UK Equity Income sector over five years by IFA Hargreaves Lansdown. The Exeter High ...
Smaller fund houses fare better in profit stakes.(Brief Article)
Oct 07, 2002 ... THE UKs larger fund managers are in a struggle for "sustainable profitability", according to accountant PricewaterhouseCoopers. Its 2002 survey of investment management found the "heavyweights of the fund management industry are on the ropes" as revenue as a percentage of funds ...
Britannic ups share holdings, sheds bonds.(Brief Article)
Oct 07, 2002 ... Britannic Asset Management trimmed its bond exposure in favour of equities during August 2002. The groups exposure to bonds is now 15 per cent. Equities are 80 per cent and the balance is in property and cash. Graeme Johnston, investment director at Britannic, said ...
Freebies dangled to lure jittery investors.(Premier Asset Management, IFA Millfield Partnership)(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... PREMIER Asset Management and IFA Millfield Partnership are offering discounts on the high street to tempt nervous investors. The Shareholder Perks Guide 2002 from Premier and Millfield details perks from 76 companies. Most of the offers are available from general ...
Compulsory Isa lock-in laws ditched.(individual savings accounts)(Brief Article)
Oct 07, 2002 ... COMPULSORY lock-ins for investors on certain Isas are no longer enforceable under amendments to the Isa rules. The amendments will give investors greater flexibility to withdraw or transfer money, as well as ensuring compliance costs will be clear and negligible. ...
Call for control of buy, sell recommendations; AIMR drafts guidelines over concerns about analysts share recommendations.(Association for Investment Management and Research looks for new guidelines)
Oct 07, 2002; ... By Simon Falush Analysts recommending the buying and selling of shares should be subject to new guidelines to ensure probity. This is according to the Association for Investment Management and Research, which has issued proposals to save the reputation of analysts ...
Bonds looking riskier than equities, says BAM.(Brief Article)
Oct 07, 2002 ... BARING Asset Management has said bonds were starting to look risky relative to equities. Michael Hughes, chief investment officer, said the investment environment now favoured higher alpha funds and that government bond yields are at levels as low as the 1950s. This meant the ...
Currie trust to cover larger companies.(Martin Currie Enhanced Income able to invest in larger companies)(Brief Article)
Oct 07, 2002 ... The Martin Currie Enhanced Income trust has widened its remit to cover a larger universe of companies. The investment trust, which was set up three years ago and invested heavily in split capital investment trusts, has been granted shareholder approval to invest in FTSE 350 ...
Christows multi-manager portfolio service offers ETFs; Christows new portfolio service aimed at growing market of people with GBP25,000 plus to invest.(new services)
Oct 07, 2002; ... By Simoney Girard Christows will be using a high proportion of exchange-traded funds in its new multi-manager portfolio service. The Christows portfolio service is aimed at the growing mass affluent market. It offers five core portfolio strategies for ...
S&P data available on web platform.(Brief Article)
Oct 07, 2002 ... Standard & Poors has made its complete range of data and analytics available across one integrated web platform. The platform integrates 10 existing marketing sites and has a host of new features. Users can access and view data including mutual funds, indices, credit ...
L&G offers portfolio wrapper for trackers.(Brief Article)
Oct 07, 2002 ... Legal & General has launched a portfolio wrapper in which it will sell its index trackers and corporate bond fund. The Select Isa allows investment across four L&G vehicles; the UK Index, the US Index, the European Index and the Fixed Interest trusts. Clients can ...
Wind-up package for Jos Holdings investors.(Brief Article)
Oct 07, 2002 ... Investors in Jos Holdings, a split cap investment trust, have been offered a wind-up package. The first option available to investors will be to roll over some or all of their investment into the existing British Portfolio trust, giving an opportunity to defer capital gains tax ....
Regulator burdened with reviews.(Brief Article)
Oct 07, 2002 ... THE FSA is being burdened with too many reviews and reports, according to the Association of Private Client Investment Managers and Stockbrokers. Angela Knight, chief executive of the trade body, voiced her concerns while addressing business chiefs at the Scottish Financial ...
S&P awards ratings to four new Insight funds.(Standard and Poors)(Brief Article)
Oct 07, 2002 ... FOUR of the new funds launched last week by Insight Investment have been rated by Standard & Poors. Insight, the asset manager of HBOS, has launched nine funds in a move to establish itself as a leading player in the UK retail market. The new UK Select Opportunities ...
Split cap committee to ease sector woes; Fund managers meet to discuss idea of split cap investors hardship fund.(Brief Article)
Oct 07, 2002; ... By Sam Dunn A newly-formed committee of split cap fund providers is to meet regularly to try to ease sector woes. Last week, senior executives from Aberdeen Asset Managers, BFS, Govett and Framlington mooted a split cap investors hardship fund and the idea of ...
Gartmore Global Focus locks in gains.(Brief Article)
Oct 07, 2002 ... The Gartmore Global Focus fund moved closer to a neutral weighting to lock in its gains in September. Neil Rogan, fund manager, said the decision was taken because of fears of an upturn in the markets. He said: "I have been successful so far this year by taking a ...
Britannic pours GBP14m into poor performer; Britannic Balanced Growth and Higher Yield funds invest in Smaller Cos fund.(Britannic Asset Managements)(Brief Article)
Oct 07, 2002; ... By Ashutosh Kumar TWO of Britannic Asset Managements UK funds have invested in an underperforming internal fund. The underperforming fund, Britannic Smaller Companies, is a top 10 holdings in the Britannic Balanced Growth and the Britannic Higher Yield funds. ...
JPMorgan gives James Elliot more funds to run.(JPMorgan Fleming)(Brief Article)
Oct 07, 2002 ... THE manager of JPMorgan Flemings Pan-European fund will have his responsibilities increased six-fold. This follows reshuffles on the European desk. James Elliot, manager of the Pan-European Sicav has become head of European retail funds after Andrew Spencer was ...
Dexias fund days of wine and roses.(Dexia Asset Management wine fund)(Brief Article)
Oct 07, 2002 ... DEXIA Asset Management, the Geneva-based investment house, has launched a wine fund. Appealing to clients with, perhaps, a more discerning palate, the Global Wine fund invests in wine industry companies around the world. One such company is Robert Mondavi, based in ...
Invesco lays off two managers.(Invesco Perpetual lays off Richard Beggs, Steve Chamberlain)(Brief Article)
Oct 07, 2002 ... INVESCO Perpetual is the latest house to swoop on its UK and US managers in a month of industry-wide culling. The asset manager has cut two UK retail fund managers, Richard Beggs, manager of the International Growth fund and joint manager of the international core fund, and ...
Multi manager for 1 per cent world from Canada; Canada Life launches select investment bond and manager of managers service.(Brief Article)
Oct 07, 2002; ... by Simoney Girard Canada Life has launched a two new products: the Select Investment Bond and a manager of managers service. The Select Investment Bond will complete Canada Lifes onshore range of wealth management solutions for IFAs, providing more than 40 fund links ...
Customers appreciate honesty.(effect of economy on investments)(Brief Article)
Oct 07, 2002 ... investors have welcomed manager letters explaining how the slump might continue to affect investments. Barclays Global Investors has written to investors in its BGI endowment fund III about the companys "depressed" share price and the effect it is having on the fund. ...
Warning over structure of guaranteed products.(Brief Article)
Oct 07, 2002 ... Misys has warned 7000 IFAs to tread carefully before recommending guaranteed products with "cliquet" structures. The structure is becoming increasingly commonplace, Misys said. It splits the investment period into segments (for example, quarterly, six-monthly), and imposes a cap ...
Government could extend baby bond.(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... TREASURY Minister Ruth Kelly is considering extending the Child Trust fund to allow all providers to offer them. At a fringe meeting at the Labour Conference in Blackpool, Ms Kelly said the finer points of the tax-free savings account, known as the "baby bond", would be ...
Liontrust unveils offshore subfunds.(Brief Article)
Oct 07, 2002 ... Boutique Liontrust Asset Management will add three subfunds to its offshore fund range next month. The new subfunds will be the Active 350, which will invest in the onshore GBP30m First Large Cap fund; the Dynamic Income, which will buy units in the GBP190m First Income unit ...
Top performing Korea funds hit by bad loans; High returning Korean funds over 12 months now hit by global growth woes.(Brief Article)
Oct 07, 2002; ... by SAM DUNN ECONOMIC anxieties in Korea have stymied surging growth in many specialist UK funds investing in the country. After a year of stellar performance, investments in three leading unit trusts have slumped by at least 10 per cent over the past three months. ...
Investec to issue covered warrants from Ireland.(Brief Article)
Oct 07, 2002 ... LONDON-based Investec Bank has pipped rivals to the post by issuing covered warrants on the Irish Stock Exchange. Investec decided against issuing on the London Stock Exchange, in favour of the ISE, having been put off the LSE by a series of delays. This means ...
Zurich to warn IFAs of price war.(Brief Article)
Oct 07, 2002 ... by james mawson ZURICH Financial Services will warn of a potential IFA price war at next weeks Financial Adviser Expo 2002. Simon Chamberlain, national recruitment director at Zurich, will present a seminar entitled Is Multi-Tied the Answer? It will look at ways for ...
Zurich offers multi manager portfolios; Zurich network teams up with 7im to launch manager of manager service.(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... EXCLUSIVE By Ashutosh Kumar ZURICH Advice Network and Seven Investment Management have launched a multi-manager service. The service, also offers access to single-managed Threadneedle funds. Apart from regular unit trust investors, the product is open to ...
1500+ IFAs enlist for Expo 2002.
Oct 07, 2002 ... MORE than 1500 IFAs have signed up for the Financial Adviser Expo 2002. The industrys number one event begins with keynote addresses from some of its leading lights. Dewi John, editor of Investment Adviser, will chair a series of debates covering ...
Managers clash on Wal-Mart.(Brief Article)
Oct 07, 2002 ... By Sam Dunn FAVOURED companies such as Wal-Mart are pitting US manager Gil Knight against rivals who say mega shares destabilise markets. The clash of fund manager views comes as the worlds biggest retailer bears a price to earnings ratio of nearly 31. In ...
It takes all sorts of specialists; UK investors have yet to develop a taste for funds in the Specialist sector, says Helen Delaney.(Brief Article)
Oct 07, 2002 ... The Specialist sector is the most diverse IMA fund sector. It contains unit trusts and Oeic sub-funds with completely different focuses. These include funds investing in a single region, such as the GBP10.8m JPMF New Europe fund or those with a single sector theme, such as the ...
Ups and downs of specialists.(fund investing)(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... The Specialist sector contains funds with a single country (expect the UK, the US or Japan) or a single sector theme. In May 2001, the Investment Management Association changed its sector classifications and funds investing at least 80 per cent of their assets in technology and ...
Jupiter Financial Opportunities Fund: Emphasis on selling and stock picks wins.(Brief Article)
Oct 07, 2002 ... The Jupiter Financial Opportunities fund has been managed by Phillip Gibbs since its launch in 1997. There are no other personnel that work solely on this fund. It aims to achieve long-term capital growth through investing in financial sector equities on an international basis. ...
Jupiter Financial Opportunities Fund: Manager Comment; Phillip Gibbs.(Brief Article)
Oct 07, 2002 ... The performance within the specialist sector will always be volatile as there is so much variation and many differences between the funds within this sector. One of the key things for me is that I look at the benchmark, the FTSE Financials index and I also look at the ...
A mixed fund bag; Ayse Ferliel.(Brief Article)
Oct 07, 2002 ... The world markets went into a tailspin earlier this month and the losing trend is expected to continue after the worst quarter for the S&P 500 index and the Dow Jones Industrial index in 15 years. Against this background it is difficult to predict how the specialist sector will ...
DEWHIRSTS VIEW: M&G Basics fund looks good; Nick Dewhirst.(Brief Article)
Oct 07, 2002 ... The Specialist Funds sector is for investors who want to place bets themselves. It carries the greatest rewards, but also the greatest risks as specialist funds are for switching. Sectors go in and out of fashion, so the usual file-and-forget strategy is a recipe for ...
FT fund ratings: SPECIALIST.(Brief Article)
Oct 07, 2002 ... Investment Advisers Fund Ratings service provides detailed RCP (Risk, Charge, Performance Ratings on authorised UK unit trusts, investment trusts and Oeics). We show Risk, Charge and Performance ratings where available for all funds. Where no rating is available for a particular fund or ...
Diversified holdings the key to New Star fund; High Yield Bond fund aims to provide a headline yield of 7% with a potential for growth.(corporate bonds)(Brief Article)
Oct 07, 2002 ... Shaista Ahmed With global equity markets gripped by volatility and uncertainty, investors are looking to bonds for some respite. But the recent rush to government bonds has prompted some to suggest they may have reached their peak and there is little further growth ...
2002 calendar.
Oct 07, 2002 ... SEPTEMBER Funds launched HSBC Republic Investments HSBC Republic Investments, private banking arm of HSBC, launched a capital guaranteed fund of hedge funds, the HSBC Republic Alternative Wealth Protector. Schroder Schroder has ...
A year ago this month...Tough times take toll on Solus fund.(Solus US Select Opportunities fund)(Brief Article)
Oct 07, 2002 ... By Shaista Ahmed The GBP2.67m Solus US Select Opportunities fund was launched on 21 October 2001. The fund is managed by Chris Berteisen, who is based in the US. The fund was launched in the aftermath of the 11 September terrorist attacks on the US and has faced a ...
Technology takeover fails to materialise; Technology has not reduced the role of IFAs but highlighted the value of face-to-face advice.(Brief Article)(Statistical Data Included)
Oct 07, 2002 ... Shaista Ahmed The supposed threat of technology to the financial advisers has never materialised. These days, the question is how technology is being used by IFAs and whether or not face-to-face advice has changed. Fund supermarkets and portals, in particular, play an ...
The industry needs you; As the IFA industry continues to suffer from an image problem, how can firms attract new recruits?(Brief Article)
Oct 07, 2002 ... HELEN DELANEY For many people, the term IFA conjures up images of a suited grey haired gentleman. As the average age of the IFA has hit 50 and the industry continues to be dominated by men, this image appears to convey reality. In essence the IFA industry has a time ...
Time is ticking away on savings; The ideal of people taking a more active role in their financial planning has been sacrificed on the altar of spending more on public services than we raise in taxes.(Brief Article)
Oct 07, 2002 ... Andrew Watson There are a number of factors that have combined to set a pensions time bomb ticking under the government. This latter-day Guy Fawkes consists of the imminent retirement of the post-war baby-boomers, increased longevity and a general trend towards ...
Banana republic blues; Observers could be forgiven for mistaking the once proud US as the worlds largest emerging market.
Oct 07, 2002; ... Richard Boardman The US stock market is exhibiting many of the characteristics we have come to associate with emerging markets. For one thing, it is wracked by concerns over endemic corruption. US authorities have been quick to offer the appearance of firm action, ...
Cash funds blossom; With equity markets suffering, cash funds appear to be a fairly sunny alternative during these dark days.
Oct 07, 2002 ... Bruce McWilliams Money market funds, otherwise known as cash or liquidity funds, are cocking a snoot at equity funds these days. For so many years, low-yielding cash funds were forced to take a back seat to tech-injected equity funds. But now, with their ...
How to win clients and influence people; A positive profile and perception are essential for building IFA business.(Brief Article)
Oct 07, 2002 ... Charles Ansdell It may be a cliche, but is no less valid for it: opinions are formed within minutes of meeting someone, if not sooner. The way that people present themselves, the clothes they wear, the strength of handshake all send subliminal messages to would-be ...
Seminar programme; The Financial Adviser Expo 2002 seminar programme will address recent and proposed changes to legislation and industry practices. It will provide a forum where speakers and advisers can lead discussions on the future of the financial servises industry.
Oct 07, 2002 ... 9:30-10:00 Key Note Address: Our New Industry The Way Forward Track One Practice Management Distribution Models of the Future 9:30 10:15 Straight-Through Processing in the IFA market Miriam Leach, The Exchange How do new ...