Investment Adviser back issues from April 2008:
L&G consults IFAs on retail overhaul.
Apr 07, 2008 ... Investment house keen to sound out new vehicles for fund manager David North. Nick Rice Legal and General Investment Management is consulting IFAs on a comprehensive overhaul of its retail fund range. The most active changes would be in the managed sectors, where L&G ...
Hang 'em high.
Apr 07, 2008 ... Ever wanted to kill an economist? Well, now's your chance. Encouraging data released recently from the Office of National. Statistics suggesting the economy might be about to rebound was scorned by economists who insist we should not take succour: the worst is yet to come.. Hugo Greenhalgh ...
Seeking global growth.
Apr 07, 2008 ... Not all sectors are growing equally - despite the so-called global village - but there are still key areas worth looking out for across the planet . Nick Rice In the so-called "global village", where development is supposed to be coupled and coordinated, not all sectors are ...
Keeping things simple and forward-looking.
Apr 07, 2008 ... Aberdeen Asset Management's Peter Hames talks to Jim Robinson about taking a common sense, team approach. Jim Robinson The extensive team behind the GBP153.9m Aberdeen Asia Pacific and Japan fund pride themselves on a collegiate, commonsense approach to investment. As such, ...
Fidelity expands global vista.
Apr 07, 2008 ... Fidelity International has confirmed plans to launch a global credit offering within the coming months.. Oliver Good A spokesperson for the firm said the new vehicle will seek to invest in both investment grade and high-yield debt on a global basis. It will aim to give ...
IA p3 070408 Axa.
Apr 07, 2008 ... OS Axa 300. Oliver Shah - NEEDS TO BE DOUBLE SOURCED BEFORE PUBLICATION Axa Investment Managers is understood to be the latest group mulling an Africa fund, following hot on the heels of New Star Asset Management and Cru Investment Management. Although an Axa ...
Latest edition of FoHF directory out now.
Apr 07, 2008 ... Standard & Poor's Fund Services has released the latest edition of its fund of hedge funds directory, a six-monthly review of the FoHF sector.. Oliver Shah The report covers more than 50 funds, which S&P said made it the industry's most comprehensive qualitative assessment to ...
Irish Growth is looking good, says analyst firm.
Apr 07, 2008 ... Due to the slowdown in the Irish market, Gartmore's GBP113.4m Irish Growth fund is priced attractively, Wins Research has said.. Oliver Good The analyst firm said the fund had a strong long-term performance record and experienced ...
New Star manager repositions portfolio.
Apr 07, 2008 ... Fund manager purges unwanted stocks in spring clean after underperformance. James Kenny After a disappointing performance in 2007, Richard Pease, manager of the GBP1.1bn New Star European Growth fund has repositioned his portfolio. Mr Pease said after the period of ...
Resilient economy in Mexico wows market.
Apr 07, 2008 ... Mexico's resilience to the US slowdown has surprised the market, the manager of F&C's GBP7m Latin America Equity fund said.. Oliver Good The economy has been one of the best performers year to date, up 9.9 per cent despite its exposure ...
New Star lines up Tim Steer.
Apr 07, 2008 ... New Star Asset Management is understood to have lined up UK equity manager Tim Steer to run its first long/short retail fund. The firm is also due to unveil three new appointments this week.. Oliver Good In February, the investment house announced plans to launch two long/short ...
Fund Isas sales suffer lowest year on record.
Apr 07, 2008 ... IMA confirms Isa sales down but attempts to pump up case for longer-term funds. Helen Burggraf Investors resumed buying UK-domiciled investment fund Isas in February, but at the lowest level for the month since Individual Savings Accounts were first introduced in 1999, according ...
Resolution head hunts 'dynamic' Lazard man.
Apr 07, 2008 ... Resolution Asset Management has poached Lazard Asset Management's Austin McBride as head of retail sales.. Oliver Shah He replaces Alistair Hall, who has been appointed to the new position of head of UK client proposition and service. Both he and Mr McBride will ...
Fine violins aim for high performance.
Apr 07, 2008 ... A fund investing solely in fine violins has been set up, with its manager calling stringed instruments "the most stable asset class in history".. Oliver Good The Fine Violins fund, set up by a syndicate, is aimed at high net worth clients and will aim to generate returns by ...
All aboard for the great cash dash.
Apr 07, 2008 ... Are fund managers who move into high cash positions being smart when markets fall?. Jim Robinson When markets are as volatile as they are these days, a timely move into cash can be quite a boon for a fund manager. As we reported in last week's Investment Adviser, the GBP5m ...
That's entertainment... not.
Apr 07, 2008 ... Most people picture corporate entertainment as time out with drinks, potentially with a relaxing meal or event to accompany them.. Oliver Good Like every other fund company, Fidelity has been sticking to this principle - except it seems to find the relaxation bit less essential ...
Phne a celeb friend, quick!
Apr 07, 2008 ... It's usually taken for granted that most fund managers and investors would quite like to be millionaires, so it was no surprise to see Legg Mason's conference borrow themes from ITV's gameshow last week.. Oliver Good Attendees were given electronic pads and polled on various ...
Flutter your eyelids, you beautiful beast...
Apr 07, 2008 ... Stock market volatility has caused many an investor to tap new markets in search of returns. Perhaps the money-spinner they have been searching for can be found deep in the deserts of the United Arab Emirates. . Oliver Good A $9m cash prize and hundreds of top-notch cars ...
Ministry of stupid walks?
Apr 07, 2008 ... Legg Mason are a philosophical bunch. Their affiliate Brandywine even has a finely judged motto, but at first glance it is not one to inspire investors with confidence.. Oliver Good "We walk in stupid every day" is not the kind of phrase you associate with super-boffins ...
Have central banks done the right thing?
Apr 07, 2008 ... By bailing out troubled banks like Northern Rock central banks may be provoking more risk. Xavier Vives The present financial crisis poses two main questions: whether it is similar to past crises and how central banks should intervene to preserve the stability of the ...
Multi-strategy is the answer.
Apr 07, 2008 ... Vivid illustrations of the current economic and stock market turmoil surround us so it's unsurprising to see investors searching en masse for less risky investments. . John Ions The complications in the market simply reinforce the need for investors to have well-diversified ...
Times are hard, but this is ridiculous.
Apr 07, 2008 ... Rollercoasters, global casinos and bumpy roads, the papers have been awash with cliches in recent weeks.. Hugo Greenhalgh Market turbulence has meant desperate times for both fund managers and sub-editors keen to find new ways of expressing old ...
Ingenious to open UK fund.
Apr 07, 2008 ... Ingenious Asset Management has confirmed its intention to open its GBP20.9m UK Equity fund to the retail market, with a provisional launch date of 1 May.. Oliver Shah Guy Bowles, chief executive of Ingenious, said paperwork for a new share class was sitting with the FSA for ...
Marines top fantasy fund league table.
Apr 07, 2008 ... Congratulations go to Mark Roughley and The Marines from MGM Assurance, Worthing, who topped the table for March in the JPM Fantasy Fund Manager competition.. Oliver Shah JPMorgan Asset Management applauded The Marines for carefully navigating their way through turbulent ...
Aifa gets Positive's Jim Reeve on board.
Apr 07, 2008 ... The Association of Independent Financial Advisers has appointed Positive Solutions chief Jim Reeve to the Aifa Council.. Oliver Good Mr Reeve is chief executive of Positive Solutions and previously worked for Zurich and Barclays. Chris ...
Market fears driving up insomnia levels.
Apr 07, 2008 ... Equity market turmoil has caused nearly one in three middle-aged and older adults to lose sleep or feel greater levels of stress, a YouGov survey sponsored by The Hartford has shown.. Oliver Good Those aged 55 and older expressed the most ...
Co-operative offers one per cent extra to IFAs.
Apr 07, 2008 ... Co-operative Investments is offering IFAs an extra 1 per cent commission on all investments made by 30 April 2008. . Oliver Good The offer will be available through the FundsNetwork and Cofunds platforms on its core UK fund range until the end ...
Would a pure Asia fund be best bet?
Apr 07, 2008 ... Over the last year, investors in Asia Pacific ex Japan were the winners . Laura Mossman An Asia Pacific including Japan fund is by its very nature a strange beast, trying to tie down the might of the second-largest and most influential global market with some of the most ...
HSBC offers investment range for the cautious.
Apr 07, 2008 ... HSBC Investments has launched a capital protected structured product, available either as a plan or an Isa.. Oliver Good The Capital Protected Plan and Capital Protected Isa are designed to appeal to investors seeking tax-efficient exposure to the UK stock market without putting ...
Vox Pop - Ethical investing.
Apr 07, 2008 ... With Jupiter's GBP289m Ecology fund reaching its landmark 20th birthday last week, socially responsible investing has become more popular than ever. Oliver Good and James Kenny asked seven leading IFAs their thoughts.. Oliver Good Nick McBreen, Worldwide Financial Planning ...
C-share issue fundraiser.
Apr 07, 2008 ... HSBC Specialist Fund Management plans to raise up to GBP145m of new capital with a share issuance for its closed-end GBP298.2m Infrastructure trust.. Oliver Good The board of HICL said the proceeds of the issue would enable the company to repay debt, borrowed for exisiting ...
India is New Star target.
Apr 07, 2008 ... New Star Asset Management has finally confirmed it will launch an India fund with Mumbai-based group Tata Asset Management in the second quarter.. Oliver Good The firm said its plan to launch an Indian equity fund, as revealed by Investment Adviser in December 2007, was the next ...
Thames River rises to meet overseas interest.
Apr 07, 2008 ... Multi-managers plan Dublin umbrella range of funds plus offshore version. Stephen Wilmot Thames River Capital is poised to launch a new raft of Dublin-domiciled funds of funds in a bid to capitalise on strong interest from overseas investors. Multi-manager Robert ...
Swip ests 130/30 product.
Apr 07, 2008 ... Scottish Widows Investment Partnership has announced it is testing a UK equity 130/30 product for launch to the retail market later this year.. Nick Rice Peter Cockburn, UK equity investment director, said fellow UK equity investment director James Clunie had been running a ...
Abate goes shopping for consumer stocks.
Apr 07, 2008 ... Fund manager confident consumer discretionary stocks will recover in third quarter. Oliver Shah Select consumer discretionary stocks are on the shopping list for James Abate, manager of the GBP3.5m PSigma American Growth fund. In February, Mr Abate upped his ...
New blood for global team.
Apr 07, 2008 ... First State Investments has reinforced its global resources team with two key appointments.. Oliver Shah Darko Kuzmanovic has joined as senior portfolio manager, and will assist in the overall management of First State's long/short global resources equity portfolios. John Ellis ...
BNP extends its UK reach in multi-manager strategy.
Apr 07, 2008 ... European asset giant BNP Paribas Investment Management has scooped up UK multi-manager IMS, which runs funds on behalf of Way Group and Seven Investment Management among others.. Oliver Shah For an undisclosed sum IMS will be amalgamated into BNP's fund of funds arm, FundQuest ....
Investec appoints head for new hub.
Apr 07, 2008 ... Invesetec Capital Markets has named Gary Dale to head up its structured product sales operation across the intermediary market, as it prepares to launch its first collection of products over the next few weeks.. Helen Burggraf The new post being assumed by Mr Dale, who will be ...
Credit Suisse gets a new chief officer.
Apr 07, 2008 ... Credit Suisse has appointed Rob Shafir as chief investment officer of its asset management division. . James Kenny Mr Shafir will assume his new responsibilities with immediate effect and will also continue in his current role as chief executive of the Americas region. He will ...
Portfolio is 'food and drink' to Focus fund.
Apr 07, 2008 ... Manager will search out companies that resist bad times and grow in good climates. James Kenny Collins Stewart has revealed further details of the portfolio of its new UK Focus fund . The fund, which was launched on 1 February, takes the form of a ...
Legg Mason lines up three funds.
Apr 07, 2008 ... Legg Mason Investments is set to launch a trio of funds targeting emerging markets, Japanese equity and Asian bonds.. Oliver Good The new vehicles will be part of the firm's Legg Mason Global Funds range, based in Dublin. They have yet to receive regulatory approval but their ...
Ethical fund poised for launch.
Apr 07, 2008 ... Brandywine's Paul Ehrlichman points up growing demand for socially responsible screening of global investment funds. Oliver Good Legg Mason Investments is poised to launch a socially responsible global equity income fund. The new offering will go live in the second ...
Aifa seeks clarity on FSA advice for intermediaries.
Apr 07, 2008 ... The Association of Independent Financial Advisers last week called on the FSA to provide greater clarity to intermediary firms on the increased use of guidance, as called for by the FSA, in place of rules-based regulation. . Helen Burggraf Aifa also called on the FSA not to ...
Watchdog warns of carbon trading risks.
Apr 07, 2008 ... FSA report claims emissions market risk could spill over into other derivatives. Helen Burggraf The fast-growing carbon trading industry involves risks that have the potential to spill over into other derivatives markets as well as such related commodities sectors as gas and ...
A tough case to make.
Apr 07, 2008 ... Japanese equities have had a rough go of it lately, and the small-cap end of the spectrum has suffered the most. . Chris Traulsen The average fund had fallen 26.2 per cent over a year to 29 February, compared with a 16.7 per cent loss for the average fund in the Morningstar ...
Consumer prices rise in OECD countries.
Apr 07, 2008 ... Consumer prices in the OECD area rose by 3.4 per cent in the year to February 2008, including a 13.9 per cent rise in energy prices.. Oliver Good Prices for food were up by 4.9 ...
FSA to conduct review to assess IFA's platform use.
Apr 07, 2008 ... Regulator set to contact providers in a bid to improve the industry's disclosure of costs and services . Catherine Neilan The FSA is to conduct a "thematic review" of IFA firms in the second quarter, to assess their use of platforms and the impact the products have on ...
Fitch rolls out ratings system to measure FoHF managers.
Apr 07, 2008 ... Fitch Ratings last week launched a new rating system measuring the performance of funds of hedge funds managers, citing recent growth in the number of organisations offering FoHF investment products. . Helen Burggraf The company said it expected to unveil its first rating of an ...
Getting the timing right can prove difficult.
Apr 07, 2008 ... A contrarian investor should look to buy at this time of negative sentiment and falling prices. Philip Coggan The numbers aren't out as yet but it's safe to guess we have just had a very disappointing Isa season. That is hardly suprising, given the state of the markets. As of ...
Lawrence builds Investec stake.
Apr 07, 2008 ... Lawrence House Fund Managers has built a stake in Investec's GBP12.9m Global Dynamic Resources fund through its GBP11m Balanced Managed portfolio.. Oliver Shah Manager Alan Stokes decided the time was right to plough cash into commodities, and took a 5 per cent bite of the ...
Aberdeen hires duo for its Glasgow trust.
Apr 07, 2008 ... Co-manager says trust is well-positioned to begin adding to housebuilders and financials. Oliver Shah Susan Anderson and David Boyle have replaced Iain Lynn as co-managers of Aberdeen Asset Management's GBP96.6m Glasgow Income trust. Ms Anderson has worked on the ...
Barclays rolls out second issue of Optimiser product.
Apr 07, 2008 ... Barclays Wealth is coming out with a second issue of its Emerging Markets Optimiser structured product in response to demand for investments with lower risk exposure to high-growth areas amid ongoing market turbulence.. Helen Burggraf The product is linked to the iShares MSCI ...
Veritas turns daily to increase marketability.
Apr 07, 2008 ... Veritas Asset Management has moved its GBP32.9m Global Income and GBP40.7m Global Focus funds from weekly to daily dealing in a bid to attract more retail investment.. Oliver Shah From 2 February the products, both managed by Charles Richardson and Andy Headley, have been priced ...
Schroders stands by trusts despite widening discounts.
Apr 07, 2008 ... Manager confident of underlying trusts' intrinsic value as they have plenty of money to invest in bargains. Oliver Shah Schroder Investment Management's funds of funds have been buffeted by widening discounts on underlying investment trusts, but head of multi-manager Andrew ...
Predicting the next swing.
Apr 07, 2008 ... Opinion is divided over whether equity income is set for recovery or if there is worse to come. Jim Robinson No question, income investors have had a rough time of it lately. As a whole, the IMA UK Equity Income sector has lost 17.1 per cent over the year to 25 March, according ...
7IM launches value passive multi-manager products.
Apr 07, 2008 ... Seven Investment Management's suite of passive multi-manager funds has gone live, offering investors exposure to the same asset allocation positions as 7IM's active funds but at a cheaper cost.. Oliver Shah The four Asset Allocated Portfolios - AAP Balanced, AAP Moderately ...
Eisa welcomes new consultation paper.
Apr 07, 2008 ... The Enterprise Investment Scheme Association has welcomed the Treasury's consultation paper, aimed at making the product type more accessible to both investors and companies seeking finance.. Oliver Good Eisa said it was consulting directly with its members with a view to ...
Dalton rebrands Indian product.
Apr 07, 2008 ... Company rejigs fund as wholly owned subsidiary of flagship Melchior Selected Trust to provide Ucits III appeal to investors. James Kenny Dalton Strategic Partnership is rebranding its $76m (GBP38m) Melchior Indian Opportunities fund in order to reflect changes within its ...
F&C stands by solar stocks.
Apr 07, 2008 ... The managers of F&C Investments' GBP239m Stewardship International fund are standing by their decision to invest in solar stocks, despite the sector's underperformance damaging recent returns.. James Kenny Terry Coles, co-manager of the fund, admitted the fund had been hit when ...
Wine appreciation.
Apr 07, 2008 ... For anyone looking to get into wine without the hassle of a five-week course, there are a number of tutorials available on CD-Rom or online. Beginners can even test out two online courses for free on a website from Taste of the Vine entitled www.freewinecourse.com.. Nick Rice ...
Stenham opens up FoHF to retail clients.
Apr 07, 2008 ... Water, agricluture and soft commodities will be at the heart of Guernsey-based fund. Helen Burggraf Guernsey-based Stenham Asset Management is opening up a fund of hedge funds to retail investors, which is focused on the international water, agriculture and soft commodities ...
Hargreave Hale tips agribusiness options.
Apr 07, 2008 ... Company prepares to ride out turbulent times in global equity and financial markets. Helen Burggraf Agribusiness companies are less likely to be affected by a global slowdown than others, such as consumer-facing sectors like retailing and leisure, according to the manager of the ...
Merrill Lynch expands its exposure to silicon stocks.
Apr 07, 2008 ... The GBP157.7m Merrill Lynch New Energy Technology trust has ramped up its exposure to silicon-producing solar companies, helping it beat world markets in February.. Oliver Shah Fund managers Robin Batchelor and Poppy Allonby generated 3.3 per cent NAV return for the month, ...
Investing success at the right price.
Apr 07, 2008 ... Managers need patience to be value investors and not give in to peer pressure over market sentiment. Stephen Wilmot, features writer Readers may be familiar with the concept of value investing from the "stock bets" and "snail trail" matrices in our Analyst pages or on the ...
Masterclass shows Guernsey benefits.
Apr 07, 2008 ... Guernsey's fund association is to hold a private equity masterclass in London, featuring a keynote speech from Jon Moulton, founder and managing partner of Alchemy Partners.. Oliver Good Horace Camp, executive director of the Guernsey Investment Funds Association, said the ...