Investment Adviser back issues from January 2008:
LV= launches 12-fund blitz on retail market.
Jan 07, 2008 ... Byline: Products to be available through several distribution channels in a range of tax wrappers LV= Asset Management is to blitz the retail markets with the launch of 12 open-ended funds this year. Four fixed interest vehicles, four global funds and two ...
Japan equities to rally.
Jan 07, 2008 ... Byline: S&P Fund Services survey highlights strong belief in attractiveness of Japanese equities Japanese equities could be set for a significant rally, according to the latest sector update from Standard & Poor's Fund Services. Lead analyst Alison Cratchley ...
Blue Sky adds structured product to its arsenal.
Jan 07, 2008 ... Blue Sky Asset Management has released its inaugural structured product, which offers 10 per cent yearly income and 100 per cent capital protection over a six-year term. The Protected Income plan is available until 8 February, and will be based on a portfolio of shares from HSBC ...
Gartmore managers plan to train eyes on UK property.
Jan 07, 2008 ... Managers at Gartmore Investment could bring UK property back to its AGBP376.8m Balanced and AGBP75m Cautious multi-manager funds this year. The Balanced fund holds roughly 2 per cent in the asset class, while the Cautious fund holds just over 3 per cent. Three years ago levels ...
Norwich Union opts to value funds fortnightly.
Jan 07, 2008 ... Norwich Union has switched from monthly to fortnightly valuations for two of its property funds, as outflows from the asset class industry-wide continue to snowball. Both Norwich Union's AGBP3.6bn Property Trust and its AGBP397m Property Investment fund have changed the ...
Gledhill sole head of New Star fixed income.
Jan 07, 2008 ... Byline: Company decides against replacing co-head Theodora Zemek after departure for Axa James Gledhill has taken over as the sole head of New Star Asset Management's fixed income division following the departure of Theodora Zemek to Axa Investment Managers. Ms ...
Santander launches multi-manager fund.
Jan 07, 2008 ... Santander Asset Management has kicked off the new year with the launch of a developing economies multi-manager fund. Santander Emerging Markets will sit in the firm's new Global Equity Growth portfolio, and will predominantly invest in South Korea, Taiwan, China and Brazil. ...
Fidelity Special Value ups its exposure to financials.
Jan 07, 2008 ... The AGBP392m Fidelity Special Value investment trust has significantly increased its exposure to financials, after underperforming its benchmark for 2007. Fund manager Anthony Bolton increased his financial holdings in the four months to 30 November, raising total exposure from ...
CFA Institute calls for single hedge standard.
Jan 07, 2008 ... Byline: CFA says current, competing standards do not provide enough consumer protection The CFA Institute Centre for Financial Market Integrity has called for the introduction of a single global hedge fund standard with a greater focus on investor protection. The ...
Distressed assets have silver lining.
Jan 07, 2008 ... Hedge funds could capitalise on investing in distressed assets, despite November being the "bloodiest" month for the vehicles, according to F&C. Francois Barthelemy, head of the F&C Balanced Alpha Fund of Hedge Funds, said the sub-prime crisis had generated a number of ...
New Pimco closed-end fund aims to raise AGBP198m capital.
Jan 07, 2008 ... US fund manager Pimco is hoping to raise AGBP198m in the launch of a closed-end fund that invests in mortgage-backed securities. The Pimco Income Opportunity fund is expected to list 16m shares on the New York Stock Exchange, at approximately AGBP12 each ....
IFAs slam poor Reits performance.
Jan 07, 2008 ... The performance of real estate investment trusts has been blasted by IFAs, as the vehicles celebrate their first year anniversary. The trusts, which have seen their share prices plummet 37 per cent on average since last January, have failed to attract significant inflows, as ...
S&P warns of falling returns from Europe.
Jan 07, 2008 ... Byline: Research group says large proportion of banks' credit-related losses still undisclosed European equity markets are expected to generate negative or single-digit returns in 2008, as they suffer a slight slowdown, Standard & Poor's has warned. The company said ...
Wins predicts tough year to raise capital.
Jan 07, 2008 ... Byline: Widening discounts and market volatility will mean fewer launches or issuances This year is likely to be far tougher for mainstream investment companies seeking to list or raise new capital, according to Winterflood Securities. Wins estimated that 2007 saw ...
Arbuthnot forsees growth due to infrastructure needs.
Jan 07, 2008 ... Emerging markets' need for better infrastructure will offer investors attractive growth prospects in 2008, according to analyst firm Arbuthnot Securities. Rupert Stevenson, head of closed-end funds at Arbuthnot Securities, oversaw last year's AGBP85m share issuance for the ...
AIC thumbs up for more flexible rules.
Jan 07, 2008 ... Investment companies will become more commercially attractive and flexible thanks to new FSA rules, the Association of Investment Companies has said. Daniel Godfrey, director general of AIC, welcomed the FSA's final listing rules for investment companies following the conclusion ...
Multi-managers need to get tactical in 2008: Potter.
Jan 07, 2008 ... Byline: Thames River co-head of multi-manager claims first six months will be difficult before mid-year turnaround The ability to make quick tactical asset allocation calls will separate the multi-manager winners from the losers in 2008, according to Thames River Capital. ...
Miton sees long-term potential in property investment trusts.
Jan 07, 2008 ... Property investment trusts could prove an attractive long-term bet for multi-managers in the near future, according to Miton Asset Management. Steve Brann, manager of the AGBP41m Arcturus fund, said the level of discounts property trusts were trading at meant a sizeable return ...
Midas tips use of structured products to tackle headwinds.
Jan 07, 2008 ... Midas Capital is touting structured product exposure as an intelligent multi-manager strategy for the first half of 2008. Alan Borrows, chief investment director at the Liverpool-based boutique, said the team was battening down the hatches for strong headwinds in the six months ...
Newbies face tough times.
Jan 07, 2008 ... New entrants to the multi-manager arena will find the going tough in 2008, according to T Bailey. Jason Britton, fund manager at T Bailey, said unpredictable markets and shaky investor confidence meant fledgling groups and freshly launched funds would have trouble attracting ...
Fidelity warns over retail equity exodus.
Jan 07, 2008 ... Byline: Head of IFA channel fears long-term implications of moving money from equities to cash The mass exodus of retail investors from equity sectors in November could have worrying implications, Fidelity International has warned. IMA figures put total equity unit ...
JPMAM rollover set to go.
Jan 07, 2008 ... JPMorgan Asset Management is readying a closed-end UK Equity fund that will serve as a rollover vehicle for investors in the company's AGBP187m Fleming Income and Capital trust. Like the Fleming fund, which will be wound-up at the end of February 2008, the new company will have ...
Panic hits City jobs market.
Jan 07, 2008 ... The fund management industry could shed up to 10 per cent of its workforce as the UK job market faces its worst year for a decade, a leading industry figure has warned. Justin Urquhart Stewart, director of Seven Investment Management, warned a mass cull within the sector could ...
Martin Currie appoints Chidambaram.
Jan 07, 2008 ... Martin Currie Investment Management has brought in a new European equity specialist for its AGBP200m Pan-European Opportunities fund. Palaniappan Chidambaram joins from Rabobank in London, and will work alongside lead manager Eric Woehrling in running the portfolio. ...
Diary falls off detox wagon at Pink Floyd beach party...rats!!
Jan 07, 2008 ... When times are good, people drink, smoke and gamble. What do they do when times are bad? Drink, smoke and gamble, of course. The US-based Vice fund, which invests only in tobacco, alcohol, gambling and defence, has done an excellent job of turning a profit from ...
There's definitely life after 60.
Jan 07, 2008 ... For those of you who still remember the former Liberal Democrat leader Sir Menzies Campbell, you will be interested to hear he has a new job. The former Olympic sprinter, who was an MP for 20 years, has been appointed director of the Scottish American Investment Company ....
Time to break out the board shorts.
Jan 07, 2008 ... Schroders displayed few scruples about plying journalists with booze as it trumpeted its upcoming beach party, dubbed Retox 08. That's correct readers - Schroders is holding a beach party in January. As if the title wasn't enough ...
We don't need no education.
Jan 07, 2008 ... Diary was pleased to learn that under even the sharpest suit and best kept hair is the burning passion of a teenage rebel. During a morning meeting with a top JPMorgan economist, the conversation moved on to a topic discussed on the previous ...
Get in the Chinese rat race.
Jan 07, 2008 ... There seems to be no shortage of economists predicting Russia will have an outstanding year in 2008, but few could have predicted the region's current commodity of choice - the common rat. Russian pet shops are reporting a shortage of domestic rats, as eager shoppers have been snapping ...
Gadget: Review - The perfect extreme companion.
Jan 07, 2008 ... Remember when you were young, you'd learnt to ride your bike with sufficient skill to let go of the handlebars and let out the proud cry of "look mum, no hands" as you whizzed by? Chances are you've moved on to more extreme sports and need your hands a little more, but the need ...
Andy Creak.(Company overview)
Jan 07, 2008 ... Since it was founded in 2001, UK wrapper platform Cofunds has been grabbing an ever greater share of the UK platform market. On 30 June 2007, Cofunds announced it was the second largest provider with 19 per cent of an estimated AGBP70bn industry, just ahead of FundsNetwork with 17 per ...
Plenty of reasons to be cheerful in future.
Jan 07, 2008 ... Byline: History suggests the next 20 years could turn out rather well for the global economy Some people accuse me of being too pessimistic so I wanted to start 2008 with a suggestion of why things might work out rather well for the global economy and financial markets over the ...
Will creative bankers avert the crisis?
Jan 07, 2008 ... Byline: The financial crisis of 2007 forced even the most conservative of people to improvise The financial crisis of 2007 brought out the creative side of the world's central bankers. Finding traditional instruments wanting, they spent the last month or so fashioning new tools ...
SGAM to revamp Pacific fund.
Jan 07, 2008 ... Byline: Plans to expand investment remit to India and Indonesia following impressive performance by manager Shaun Giacomo Societe Generale Asset Management is to revamp its AGBP32.6m SG Pacific fund, expanding the investment remit to include India and Indonesia. SGAM ...
Foot in mouth.
Jan 07, 2008 ... Byline: A slowdown may well be about to hit the UK, but all the evidence suggests a soft landing "We are all wrong so often it amazes me we can have any conviction at all over the direction of things to come. But we must." So said hedge fund manager and investment writer Jim ...
2008 need not be tough time to invest.
Jan 07, 2008 ... Byline: Although uncertainty is on the cards this year, the stock-picking options still look good Investors heading into 2007 may have thought they knew what the year had in store for them, but as it turned out of course, they did not. Going into the Chinese Year of the Rat, ...
Walking on eggshells.
Jan 07, 2008 ... Byline: After a difficult year, many advisers are restructuring portfolios, but 2008 is set to be just as challenging Last year was challenging for everyone involved in the investment management industry and 2008 is unlikely to be any different. The sub-prime crisis, market ...
Prepare to enter a market minefield.
Jan 07, 2008 ... Byline: Last year's turmoil has shocked even the hardiest investors and 2008 will be just as dangerous Overall, 2007 will be remembered as a watershed in investors' perceptions of risk and views of the world at large. This time last year, some commentators rightly identified a ...
Lessons learned in 2007.
Jan 07, 2008 ... Byline: The last year has taught property investors the value of portfolio diversity and the limitations of Reits Looking back on the commercial property market during 2007, a number of developments were predictable, but equally a number were not. It was clear from the outset ...
Catch Japan on the latest upswing.
Jan 07, 2008 ... Byline: While the Japanese market is unlikely to return to its 1980s highs any time soon, it is worth a closer look In the 1980s Japan was in the ascendancy. Its economic model of a government working with industry to promote economic growth was viewed with some awe around the ...
Heading to market in Europe.
Jan 07, 2008 ... Byline: The European high yield universe is often ignored, despite its advantages over the UK market The universe of European stocks paying high dividends is an area of the market often neglected by equity funds. Investors looking for yield are typically UK-centric, despite the ...
Getting the facts on fund management.
Jan 07, 2008 ... Byline: The model offers a more comprehensive review of the factors driving fund performance Private investors are likely to have had one of two reactions to the recent market turmoil - either significant disquiet about how their fund portfolios are performing or excitement at ...
Sub-prime crisis is a time for reflection.
Jan 07, 2008 ... Byline: Now is the right time for a rigorous review of funding and investments What does the sub-prime lending storm mean for venture capital and private equity funders and the companies they invest in? Are we are headed for a global meltdown or simply a well-needed market ...
Is the IMA barking up the wrong tree?
Jan 07, 2008 ... Byline: The sector's new classification may fail to ensure funds are cautious and exclude the ones that are The IMA has recently tightened the qualification requirements for funds within the IMA Cautious Managed sector. Bearing in mind the increasing confusion surrounding funds ...
Tenet Group to unveil range of fund of funds.
Jan 07, 2008 ... Byline: Specialist branch Sinfonia to join BNP Paribas, which will take care of admin side Independent IFA service provider The Tenet Group is preparing to launch six fund of funds this spring under its recently-founded specialist arm Sinfonia Asset Management. The ...
Bleak expectations of industry figures.
Jan 07, 2008 ... Byline: Talking heads foresee doom and gloom, but diversification will be key As could have been expected, the first week of 2008 has seen a plethora of predictions from industry figures. Unperturbed by the fact that the majority of these will range from being slightly off to ...
Expect to see changes to industry weightings.
Jan 07, 2008 ... Byline: Resolution fund manager Barry Norris and Neptune fund manager Rob Burnett talk to Russell Parsons about 2008 For fund managers in the IMA Europe ex UK sector, 2007 was a particularly challenging year. The sub-prime crisis, the subsequent global credit crunch and slowing ...
Emerging markets are big enough to matter.
Jan 07, 2008 ... Byline: Allianz fund manager Michael Konstantinov and Schroder fund manager Robert Davey talk to Russell Parsons about 2008 The IMA Global Emerging Markets sector had a good 2007. The average return for the 12 months to 26 November was 29.5 per cent, according to Morningstar ....
Seeking the calm waters of Treasuries and gilts.
Jan 07, 2008 ... The volatile equity markets have proved far from ideal for investors over the last year. Yet even their rollercoaster ride has been somewhat more rewarding than that of the bond market, which has born the brunt of a crisis in asset-backed and bank-issued securities and now faces a wave of ...
BlackRock: 24-month moratorium.
Jan 07, 2008 ... BlackRock is the latest company to impose a moratorium on its AGBP2.1bn institutional UK Property fund, potentially freezing redemptions for up to two years. It said the decision had been taken to maintain liquidity in its offshore fund. This follows ...
Barings seeks China A-shares.
Jan 07, 2008 ... Baring Asset Management has applied to the Chinese authorities for allocation to A-shares, opening up the local market to retail investors in the UK. Although the company has not yet received confirmation of the allocation, or how much Barings will obtain, it is expected in the ...
Pre-X rolls out second enterprise investment.
Jan 07, 2008 ... Pre-X Capital Management is launching its second enterprise investment scheme that invests in pre-IPO companies, with a barrier to entry less than half that of its first vehicle. The new fund, which takes a socially responsible approach to investing in companies planning to list ...
Swip launch steps up multi-manager presence.
Jan 07, 2008 ... Scottish Widows Investment Partnership has stepped up its multi-manager presence by launching two funds of funds. Joint heads of multi-manager Mark Harries and Simon Wood have virtually recreated two of their former Cazenove funds under the Swip badge, with almost identical ...
Santander hybrids to enter UK market.
Jan 14, 2008 ... Byline: New funds will comprise concentrated portfolios of five to 10 underlying holdings Santander Asset Management is to enter the multi-manager arena with two fresh hybrid manager of managers/fund of funds vehicles. John Bearman, chief investment officer at ...
Clean energy, agricultural commodities top for Skerrit.
Jan 14, 2008 ... Clean energy and agricultural commodities funds have proven beneficial for investors over the past quarter, according to Skerrit Consultants. Andrew Merricks, head of investments at Skerrit, said adding funds such as AGBP37.2m Eclectica Agriculture, AGBP177.4m Merrill Lynch New ...
Gilts outshine corporate bonds as investors seek a safe haven.
Jan 14, 2008 ... Gilts are poised to make a come-back this year, as investors shy away from higher-yielding paper for fear of defaults, Close Investment Managers has said. Mark Parry, manager of the AGBP40m Enhanced Gilt fund, said the deteriorating economic environment, combined with interest ...
Fauchier trust in bid to raise AGBP100m.
Jan 14, 2008 ... The AGBP133m Absolute Return fund of hedge funds trust is hoping to raise up to AGBP100m with a C-share issuance, following investor demand. Managed by London-based alternative investment specialist Fauchier Partners, the investment company will place an offer for subscription ...
Premier Oeic swaps its zeros for equities.
Jan 14, 2008 ... Byline: Sell off of zero dividend shares allows Absolute Growth Oeic to raise equity exposure Premier Asset Management has almost completed the overhaul of its AGBP55.4m Absolute Growth Oeic, cutting back on zero dividend preference shares in favour of equities. Paul ...
Fidelity set to launch aggressive Asia fund.
Jan 14, 2008 ... Fidelity International is launching an aggressive Asian fund with a concentrated portfolio and a focus on investing in smaller Asian economies. Set to go live at the end of March, the fund will be run by institutional manager David Urquhart. The portfolio will hold ...
Axa Elevate wrap with dual pricing structure goes live.
Jan 14, 2008 ... Axa Distribution Service's new wrap proposition Elevate has gone live, with six consultative partners as the first advisers to have access to the platform. The platform, which will be marketed to the wider public later in the year, offers a dual pricing structure with bundled ...
Latest FSCS reform 'unclear' for advisers.
Jan 14, 2008 ... Byline: Apcims claims FSA's proposals increased confusion among advisory community The FSA's latest proposals for reforming the compensation scheme have muddied the waters for advisers, Apcims has claimed. The second set of proposals, published in November, outlined ...
Towry Law aquires Hazlems Financial.
Jan 14, 2008 ... IFA firm Towry Law has acquired London-based intermediary Hazlems Financial. This is the latest acquisition for the Bracknell-based company after it recently bought Scottish financial advisory firm McGowans and Northern Ireland-based group Analysis. Hazlems has 1200 ...
New Star to merge Special Situations and UK Alpha.
Jan 14, 2008 ... New Star Asset Management is planning to merge its AGBP54m Special Situations and AGBP424m UK Alpha funds. The fund house confirmed the move had been proposed because of consistent underperformance on the Special Situations fund, which is currently managed by James Ridgewell. ...
Bamberry takes Swip UK Real Estate helm.
Jan 14, 2008 ... Byline: Chris Bamberry, in role left by Nigel Bolton, is confident of performance turnaround Scottish Widows Investment Partnership has formally handed the management of its AGBP11.5m UK Real Estate fund to Chris Bamberry. Mr Bamberry began managing the fund in ...
Gairola takes on manager role.
Jan 14, 2008 ... Atlantis Investment Management has appointed a new manager for its open-ended AGBP123.9m India Opportunities fund. The outgoing manager, BP Singh, departed mid-December to pursue other interests outside the firm. Vinay Gairola assumed the role immediately, having already worked ...