Investment Adviser back issues from June 2007:
UBS looks set to launch 130/30 fund this summer.
Jun 04, 2007 ... UBS Global Asset Management will be launching its 130/30 fund by this summer. The fund, which is set to be launched on 6 July, will be officially called the UBS 130/30 equity fund and will be run by Tom Digenan. It is still subject to approval from the Financial Services ...
Threesixty plans to host TCF seminars.
Jun 04, 2007 ... Threesixty, the IFA support provider, has announced that it will be hosting a number of Treating Customers Fairly workshops open to all intermediaries, in June and July 2007. This follows the FSA's recent revelation that only 41 per cent of intermediaries met the March deadline ...
Economic slowdown.
Jun 04, 2007 ... Quarterly GDP figures have provided stark testament to the fact that the US economy has slowed sharply over the past 12 months, with year on year growth falling from 3.7 per cent in Q1 2006 to 2.1 per cent in Q1 2007. Indeed, the recently published Q1 2007 figures showed that the economy ...
The collaborative method that brings in results.
Jun 04, 2007 ... Byline: UBS US Equity fund manager Tom Digenan talks to Vanessa Walters about a strong team and fundamental research approach The UBS house style takes a price to intrinsic value approach to investments, seeking undervalued stocks. This fund, which has outperformed its ...
Have the trackers lost out completely to the multi-managers?
Jun 04, 2007 ... Byline: The ethos is now on adding value through active management rather than sticking with low-risk style Investment products quite rapidly fall in and out of favour, with companies always keen to market the shiny new idea that looks set to push some of the more long-standing ...
Fund flows and the influence of returns.
Jun 04, 2007 ... Byline: Returns have been fluctuating greatly but money is still pouring in Last week we looked at the rollercoaster ride that has been returns from the North America sector, as well as the outlook for future returns. This week we turn our attention to the fund flows of the ...
Having what it takes.
Jun 04, 2007 ... Many of the highest-returning funds within the IMA's North America sector have emphasised mid-cap and small-cap companies to a greater degree than their less successful rivals. But that does not mean that the situation is likely to continue ad infinitum. Valuation levels and market ...
Seeing value in the unappreciated and undervalued.
Jun 04, 2007 ... Byline: M&G American fund manager Aled Smith talks to Rebecca Wearn about the importance of having a solid investment process TThe M&G North American fund aims to deliver outperformance of the sector consistently over the longer term. Indeed, it is second in its peer group over ...
The benefits of reduced risk over higher ranking.
Jun 04, 2007 ... Byline: Schroder US Small and Mid Cap fund manager Jenny Jones talks to Laura Mossman about the safety net steady stocks offer The Schroder US Small and Mid Cap fund is a fund for both optimistic and pessimistic investors. Manager Jenny Jones is confident the strategy she is ...
An investment process that has served very well.
Jun 04, 2007 ... Byline: Legg Mason US Equity fund manager Mary Chris Gay talks to Vanessa Walters about how she runs a more contrarian fund The Legg Mason US Equity fund is a mirror of the famous $50bn Legg Mason Value Trust mutual fund managed by Bill Miller, who has achieved legendary status ...
Why all these cooks are not spoiling the broth.
Jun 04, 2007 ... Byline: Threadneedle American deputy fund manager Andrew Holliman talks to Rebecca Wearn about their team's dual approach The Threadneedle American Equities team consider themselves to be one of the best teams working in the market. And the emphasis here really is on team, with ...
Walking on the wild side of fund management.
Jun 04, 2007 ... Byline: Neptune US Opportunities fund manager Felix Wintle talks to Laura Mossman about not being afraid to take a bit of risk The Neptune US Opportunities fund is the perfect example of a fund that is prepared to take the gamble of heightened risk for the potential of higher ...
Fixed Income commentary by Morningstar.
Jun 04, 2007 ... Not surprisingly, given the strength of equity markets in recent months, the IMA fixed income sectors performed at the bottom of IMA league tables for the three months ended 28 May 2007. They continued, though, their one-year trend of trumping Japanese equity market returns (Japan and ...
Owning a bit of royal history.
Jun 04, 2007 ... Byline: There is a growing trend among investors who are interested in possessing relics of royalty Over the centuries, war and revolution have swept most monarchies away (with the honourable exception of our own). Yet, the lure to possess relics of royalty is a growing trend ...
Exchange traded funds growing in popularity.
Jun 04, 2007 ... Byline: ETFs listed in Europe saw assets under management climb 10 per cent to AGBP49.9m ETFs Fund managers seeking beta and new Ucits III rules are helping to drive a strong growth in exchange traded funds, according to a report by Morgan Stanley. ETFs ...
Small caps trust on top.
Jun 04, 2007 ... Byline: AIC figures reveal top-five trusts were outside most popular Global Growth sector Investment trusts The top-five performing investment trusts over the past decade were outside the most popular global growth sector, latest statistics show. According ...
F&C hits out at Wal-Mart.
Jun 04, 2007 ... Shareholder proposal F&C have co-filed a shareholder proposal at Wal-Mart's AGM over whether the supermarket giant is complying with its own government standards. The supermarket chain has come under criticism recently and F&C state that, despite strong policies on ...
Olim to launch fund aimed at IFAs advising charities.
Jun 04, 2007 ... Boutique firm Olim is to launch a charity fund, aimed at IFAs advising charities. The three-strong team, based in London's West End have specialised in investment for charities for over 20 years and have a combined investment experience of over 70 years. The Olim Charity Value ...
Equity Income funds failing to meet target.
Jun 04, 2007 ... Byline: One-third of the sector is not delivering target returns of 110 per cent of FTSE All-Share performance Some 40 funds in the IMA Equity Income sector are failing to deliver their target level of 110 per cent of the FTSE All-Share. The number ...
Managers see risk ahead in the Pacific.
Jun 04, 2007 ... Pacific and South East Asia funds have experienced healthy returns over the past six months but fund managers now see risks to stocks in the region, according to Standard & Poor's. According to S&P, Millicent Lai, manager of the Schroder AGBP182.6m Pacific fund has identified a ...
Performance is not key to sell discipline.
Jun 04, 2007 ... Performance is not a key driver of the sell discipline at HSBC Investments. "The last thing we would sell on is performance," head of multi-manager at HSBC Investments James Hughes said. "Generally we are out of there before performance takes a down turn." He ...
FundsNetwork expands its fund choice in Equity Income.
Jun 04, 2007 ... Funds platform FundsNetwork has broadened the choice of funds it offers within the popular Equity Income sector. Income-seeking investors can now access well-respected manager Bill Mott's new PSigma AGBP130m Income fund, as well as three income funds investing outside the UK. ...
HSBC's Open funds seek absolute returns.
Jun 04, 2007 ... Byline: The Global Return and Global Distribution funds aim to achieve Libor plus returns absolute returns The two multi-manager offerings under the HSBC Investments Open banner, borne in November last year, operate on an absolute return philosophy. Open ...
In-house simulation model helps HSBC protect capital.
Jun 04, 2007 ... HSBC deploys an in-house model that simulates the behaviour of different market events against multiple business environments. James Hughes, head of multi-manager for HSBC Investments, said the model enabled the team to work out what the worst possible scenario was for markets ...
HSBC trains its focus on capital preservation.
Jun 04, 2007 ... Capital preservation is the main objective of the relatively new multi-manager funds on offer at HSBC Investments through IFA distribution, and as such, they are run in a "truly" multi-asset class way. This means, according to the firm's head of multi-manager, James Hughes, ...
Aberdeen's American Growth fund bleeds AGBP100m.
Jun 04, 2007 ... performance Nearly AGBP100m has haemorrhaged out of the Aberdeen American Growth fund, according to fund flows data from Morningstar. This has resulted in the fund size dropping dramatically from AGBP216m in April 2006, to AGBP113m in April 2007. Zurich, a ...
IMA figures show property popular.
Jun 04, 2007 ... Property funds continued to be a firm favourite with retail investors in April, as investors ploughed AGBP399m into them, according to statistics from the Investment Management Association. The strong net inflows made the specialist sector, which includes property funds, the top ...
Investors undeterred by China duty.
Jun 04, 2007 ... Emerging markets China's raising of the stamp duty last week will do little to discourage investors, despite the possibility of losses, experts have said. The Chinese government announced that it would be trebling the stamp duty from 0.1 per cent to 0.3 per cent in ...
Fidelity launches its 'tax-efficient' bond.
Jun 04, 2007 ... Byline: Company rolls out what it says is first open-architecture international product Fund launch Fidelity FundsNetwork has launched what it believes is the first truly open-architecture international bond, aimed at improving the tax-efficiency of off-shore ...
Barrett looking likely to be moved up into FTSE100.
Jun 04, 2007 ... The UK's largest house builder Barrett Developments is the firm most likely to be moved up to the FTSE100 index while Drax and Tate & Lyle are in danger of losing their places, according to the Edinburgh tracker review. The next quarterly review of the FTSE takes place on 6 June ...
New funds added to James Hay wrap.
Jun 04, 2007 ... James Hay has added a further five new funds to its wrap platform. The funds that will be provided are Jupiter's recently launched European Income fund, Legal & General's fixed interest trust, Royal London sterling extra yield bond, Schroders global equity income and Standard ...
Metlife unveils investment bond with capital guarantee.
Jun 04, 2007 ... MetLife has unveiled an investment bond offering a capital protection guarantee facility to ensure investors get back at least the amount they invested. The tax-efficient wrapper, which will have a minimum investment threshold of AGBP20,000, will hold a range of "best of breed" ...
Invesco buys up Euro properties.
Jun 04, 2007 ... Byline: Purchases follow company's revision of investment objective REITS The Invesco Property Income Trust has expanded its holdings in European property by purchasing a portfolio consisting of five properties. The properties, which spread across France, ...
Resolution makes Capita deal.
Jun 04, 2007 ... Resolution asset management has announced a new deal which will invest AGBP140m into Capita Group Plc's separate customer service processes and information technology. Two thousand staff will transfer to Capita. Customer service and IT positions will remain in the UK but "back ...
Henderson is set to unveil a new fettered fund of funds with a multi-asset mandate.
Jun 04, 2007 ... Henderson Global Investors is to unveil a new fettered income fund of funds this summer with a multi-asset mandate. The fund, which will be biased towards fixed income, will be managed by Chris Wozniak, global bonds and currencies chief, who used to be chief investment officer ...
Close ends Life Science fund.
Jun 04, 2007 ... fund closure The Close Finsbury Universal Life Science fund has been closed after its assets dwindled. The retail specialist fund, which had been running for about 10 years, was AGBP500,000 in size at the time of closure, according to Close Investments. A ...
City gets a new man.(Company overview)
Jun 04, 2007 ... Byline: City Financial awards John Husselbee the mandate to run a UK multi-manager fund Fund launch Boutique firm City Financial announced last week that John Husselbee of North Investment Partners had won the mandate to run a focused UK multi-manager fund. ...
Scottish Widows reopens PL fund.
Jun 04, 2007 ... Scottish Widows has scrapped its 15 per cent cap on investment in its Property Life fund and will reopen access to investors from 1 June. George Andrew, head of market relations at Scottish Widows, said: "Taking account the volume of quality property, our fund managers are able ...
US fluctuations should not concern equity investors.
Jun 04, 2007 ... Investors should stick with equities despite the recent high levels of volatility in the US and European markets, according to Forsyth Partners. The firm said it still has confidence in equities amid mounting concerns over the likely impact of the stronger euro and the ...
Germany and Japan look good, says M&G.
Jun 04, 2007 ... Investment opportunities remain in Germany and Japan among companies that are benefiting from internal change, M&G said. In the 1990s, both nations suffered due to inefficient industrial structures, cross-holdings and lack of management focus on shareholder value, but times have ...
Insight seeks adviser opinion.
Jun 04, 2007 ... multi-manager Insight Investment is gauging the opinions of financial advisers with a view to expanding its multi-manager absolute return range later this year. The firm, which sold its offshore multi-manager arm to Syndicate Asset Management recently, is looking to ...
Good satellite fund selection is key to success: T Bailey.
Jun 04, 2007 ... Prudent satellite fund selection is the key to the success of T Bailey's AGBP12m Equity Income fund. The fund, which was launched in 2004, has returned a yield of 3.4 per cent net, the equivalent of 120 per cent of the FTSE All-Share index yield, outperforming the sector average ...
EIB rolls out pan-European Climate Awareness Bond.
Jun 04, 2007 ... Byline: Bond to offer retail investors in the UK and Europe exposure to projects addressing climate protection launch The first ever pan-European Climate Awareness Bond has been launched, offering retail investors in the UK and on the Continent exposure to projects ...
UK investors offered access to investment in a US hotel.
Jun 04, 2007 ... property UK specialist property company Movewithus is offering investors the opportunity to invest in the construction of a US hotel. Movewithus, in partnership with BridgePoint Ventures, is offering UK investors the chance to invest in the Mandarian Oriental Hotel ...
Norwich Special Situations sees good one-year returns.
Jun 04, 2007 ... Investing in the themes of infrastructure spending and capital goods has paid out handsomely for the AGBP264m Norwich UK Special Situations fund. The fund, which recently celebrated its one-year anniversary, has achieved returns of 31.52 per cent compared to the sector average ...
CAAM still upbeat on Eurozone.
Jun 04, 2007 ... European equities The team at Credit Agricole Asset Management remain upbeat on prospects for European equities, with cost discipline and corporate restructuring continuing to drive earnings on the Continent. Even though shares in European firms have recovered from ...
Fidelity to offer pensions.
Jun 04, 2007 ... pensions Fidelity FundsNetwork will most likely be offering company pension schemes in the next year or so as investment platforms continue to overhaul the retirement market. Executive director David Dalton-Brown said the traditional life and pensions market, which ...
Standard Life Investments.
Jun 04, 2007 ... Byline: Asset allocation view The outlook for UK larger FTSE100 companies relative to their medium-sized FTSE250 counterparts has been hotly debated in recent years. There has been considerable interest in the 60 per cent performance differential that has opened up between the ...
Octopus to roll out its first Oeic.
Jun 04, 2007 ... Byline: Fund aims to hit growth by investing in UK smaller companies OEICs Venture capital trust specialist Octopus Investments is to launch its first Oeic, which is able to go short as well as hold unlimited amounts of cash. The CF Octopus Opportunities ...
Old Mutual beats FTSE All-Share for five years.
Jun 04, 2007 ... The Old Mutual Ethical fund has outperformed the FTSE All-Share Index over the one, two, three, four and five-year periods to the end of April, according to data from Morningstar. The fund has a broad ethical remit and aims to generate long-term capital growth by investing in ...
New company launched to create family of ETFs.
Jun 04, 2007 ... ETF launch A new firm has been established to launch a family of ETFs based on fundamental indices. Spa ETF International will introduce a suite of ETFs in Europe during the next 12 months covering North American-listed companies. The ETFs will track the ...
S&P to start rating new fund launches.
Jun 04, 2007 ... Fund ratings Standard & Poor's Fund Services is to expand its qualitative fund management ratings by rating new fund launches, the group has said. It said the move would enable the fund service to provide detailed analysis of funds not covered by quantitative-based ...
SVM ahead of FTSE.
Jun 04, 2007 ... Byline: focusing on under-developed areas, funds manage to get ahead of the market Emerging markets A strong focus on emerging markets underpins the success of the AGBP33m SVM Global Opportunities fund, which outperformed the FTSE World Index by 8 per cent in its ...
Price of SIT stocks at an all-time high.
Jun 04, 2007 ... Scottish Investment Trust's net asset value rose by 7.7 per cent in the first six months of 2007, with the stock price ending the period at an all-time high of 498.5p. Douglas McDougall, chairman of Scottish Investment Trust, attributed the performance to good results from the ...
Forsyth turns to Islam.
Jun 04, 2007 ... Byline: Company launches new category to its rating services on back of growth in Islamic sector fund ratings Fund analysis and research group Forsyth Partners has added an Islamic equity fund category to its ratings service, following rapid growth in the Islamic ...
Lessons on how to outperform best.
Jun 04, 2007 ... Byline: The North Atlantic Smaller Companies investment trust is doing the right thing Two things strike me when I read the annual accounts of the North Atlantic Smaller Companies investment trust. First, it has massively outperformed its peers. Over the past five ...
HSBC plans global fund launch.
Jun 04, 2007 ... fund launch HSBC is planning to shore up its global multi-asset fund-of-funds range investments with a fund that offers investors exposure to a single asset class. Although the group would not reveal the specific asset class of the fund, a portfolio focusing on ...
Industry criticises plan to drop menu and IDD.
Jun 04, 2007 ... Byline: Trade bodies express concern over FSA's move to scrap consumer protection rules Regulation Plans to drop the menu and initial disclosure document as a hard-and-fast rule have come under fire from industry bodies. Last week the Financial Services ...
Hay widens scope of wrap platform.
Jun 04, 2007 ... James Hay has added five new funds to its wrap platform. They are: Jupiter Unit Trust Manager's newly launched European Income fund, Legal & General's AGBP1.65bn Fixed Interest trust, Royal London Asset Management's AGBP391.6m Sterling Extra Yield Bond fund, Schroder's new ...
Appointments.
Jun 04, 2007 ... - Morley has appointed John Botham as head of European equities. Mr Botham joins Morley from Henderson Global Investors where he was director of pan-European equities. Mr Botham will be running a team responsible for 15 funds with AGBP2.8bn under management. Mr Botham was previously a ...
IMA changes its sector definition.
Jun 04, 2007 ... Byline: Cautious Managed funds to have 30 per cent in cash, fixed interest funds of funds The IMA has altered its Cautious Managed sector definition to take into account the growing use of multi-asset classes within funds of funds. Under the change, which ...
Midas buys Hungarian real estate firm Pactolus.
Jun 04, 2007 ... Midas Investment Management, the Manchester-based investment management company, has purchased Hungarian real estate company Pactolus. The company, which has AGBP11.7m in assets, invests in the residential freehold market and affluent districts of Budapest, was bought by the ...
Investors can not avoid tax on offshore accounts: PKF.
Jun 04, 2007 ... tax Investors hoping to avoid paying unpaid tax on their offshore accounts because their bank or building society has not had to reveal their details should think again, PKF has warned David Jenkins, tax investigations partner for accountants PKF, said: "Even though ...
Global Reits - is now the right time?
Jun 04, 2007 ... They say that home is where the heart is. To most of us as individual investors, our homes also make up a large part of our assets. Property has long been a recognised investment vehicle and its characteristics are familiar to us. However, as an investment opportunity, its ...
Gartmore Focus cuts minimum holdings.
Jun 04, 2007 ... performance Gartmore is hoping to boost the performance of its AGBP224.4m UK Focus fund by reducing the minimum number of holdings in which it can invest to 25. The fund had 28 holdings at the end of April, but typically invests in 30 to 40 stocks. Rod ...