Investment Adviser back issues from August 2008:
Lyxor rolls out first Gulf equity ETF.
Aug 04, 2008 ... Byline: Nick Rice Lyxor Asset Management has launched the first Gulf equity ETF in response to investor demand. The Societe Generale subsidiary will link Lyxor ETF Kuwait to the FTSE Coast Kuwait 40 index. The AMC on the vehicle will be 0.65 per cent. ...
High GDP equals olympic triumph.
Aug 04, 2008 ... Byline: Laura Mossman The Beijing Olympics could be a watershed for the Chinese economy As excitement mounts among competitors and spectators during the final preparations for the Beijing Olympics, economists at PricewaterhouseCoopers have released a report stating ...
Argonaut plans absolute return fund.
Aug 04, 2008 ... Byline: Jim Robinson Argonaut Capital Partners plans to launch a European Absolute Return fund later this year with its joint-venture partner Resolution Asset Management. The fund will be managed by Argonaut founding partners Barry Norris and Oliver Russ, who ...
BNP Paribas and Insinger create new company.
Aug 04, 2008 ... Byline: Gail Moss France-based BNP Paribas Private Bank has joined forces with Insinger de Beaufort, an Anglo-Dutch banking group offering private banking and asset management, to create a new wealth manager. The new company, yet to be named, will be formally set up ...
SLI's Matthews joins Friends Provident.
Aug 04, 2008 ... Byline: Gail Moss Trevor Matthews, the former chief executive of Standard Life, has joined Friends Provident in the same role. Mr Matthews left Standard Life Assurance last January, but has spent the last six months on gardening leave. He replaces Philip ...
M&G launches Pan European Dividend fund.
Aug 04, 2008 ... Byline: James Kenny M&G Investments is enhancing its presence in the equity income fund market with the launch of the Pan European Dividend fund. The new vehicle, which was launched last week, will invest in European equities with a dividend yield bias and aim to ...
Gait takes reins of India fund after Tohani quits.
Aug 04, 2008 ... Byline: James Kenny David Gait will be joined by Angus Tulloch to manage GBP30m Indian Subcoontinent fund Vijay Tohani, manager of First State Investment's GBP30m Indian Subcontinent fund, has left the company, handing control of the fund over to David Gait. ...
BlackRock Greater Europe names Devlin as co-manager.
Aug 04, 2008 ... Byline: Nick Rice The BlackRock Greater Europe investment trust has named Vincent Devlin as its new co-manager. Mr Devlin currently heads up the GBP281.4m BlackRock Continental European fund. James Macmillan, his ...
Collins Stewart appoints Brown as head of fund sales.
Aug 04, 2008 ... Byline: Jim Robinson Collins Stewart Fund Management has appointed Mike Brown as head of fund sales. Mr Brown, who has more than 22 years' experience, will lead sales of the multi-asset, multi-manager funds and specialist equity, fixed interest and hedge funds. He ...
S&P's fund ratings now available on TrustNet.
Aug 04, 2008 ... Byline: Jim Robinson Standard & Poor's fund management ratings are now available on TrustNet, joining the likes of OBSR and Financial Express. All three systems provide quantitative and qualitative ratings and allow users to sort by preferred rating or ...
Dundee to distribute Sicav.
Aug 04, 2008 ... Byline: Nick Rice Dundee Wealth Management is looking to distribute its Dynamic Investment fund Sicav into the UK later this year. The Canadian financial services company said it would be looking to make all six of the Sicav's sub-funds available to UK retail ...
L&G looks to global equity fund.
Aug 04, 2008 ... Byline: Nick Rice Legal & General Group is looking at developing a global equity fund next year to expand its multi-manager range. Alan Thein and Tim Gardner, managers for L&G's retail fund of funds business, said they would examine the possibilities for a product ...
'wrap-up' comments could boost German rag-trade.
Aug 04, 2008 ... Byline: Nick Rice It looks like soaring inflation could boost the market for sweaters after comments by German finance minister Thilo Sarrazin. Fund managers will doubtlessly be buying up sewing machines, wool dyes and sheep after Herr Sarrazin apparently told a ...
Barings appoints Tim Lord as head of client service.
Aug 04, 2008 ... Byline: Jim Robinson Baring Asset Management announced that it has appointed Tim Lord as head of client service and relationship development in London, effective immediately. Mr Lord joins Barings from Threadneedle Asset Management, where he was head of UK ...
Baer appoints Stephen Moore as head of UK sales.
Aug 04, 2008 ... Byline: Jim Robinson Julius Baer announced that it has appointed Stephen Moore as head of sales for the UK, where he will focus on expanding client relationships with multi-managers, fund of funds and insurance companies. Mr Moore joins Julius Baer from ...
First State hires two to Transactions and Capital projects group.
Aug 04, 2008 ... Byline: Jim Robinson First State Investments has made two new appointments to its infrastructure investment team in London. Stephen O'Shea has been hired as an associate director, while Hamish Lea-Wilson has been hired as an executive. Both will join the ...
Henderson announces name change for Enhanced Sterling Liquidity fund.
Aug 04, 2008 ... Byline: Jim Robinson Henderson Global Investors announced it will change the name of its GBP313m Enhanced Sterling Liquidity fund to the Cash fund on 1 August to better reflect its investment strategy. The fund's objective will remain the same, focusing on ...
RLAM appoints Lawton-Browne.
Aug 04, 2008 ... Byline: Jim Robinson Royal London Asset Management has appointed Carola Lawton-Browne to the newly created position of portfolio risk manager within the firm's investment team. Ms Lawton-Browne joins RLAM from Insight Investment, where she spent 12 years - starting ...
Flight delays fatal for Chinese computers.
Aug 04, 2008 ... Byline: Stephen Wilmot Emerging market equity managers are prone to waxing financial on the subject of Chinese infrastructure. But they will have to think twice before praising the airline industry, however powerful the growth drivers. Passengers at Kunming airport ...
One year on.
Aug 04, 2008 ... Byline: Hugo Greenhalgh Well, happy birthday global economic crisis. One year old this week. It's been a bumpy old year, what with the teething, the constant burping and the odd bank failure or two. But it's a sickly child, despite bearish pundits, that might not make it to its ...
Russian bears turn to debtors.
Aug 04, 2008 ... Byline: Hugo Greenhalgh It was Nietzsche who said debt was the most soul-destroying thing - something Diary can only recognise too well. Yet in Russia they have found a solution - not to debt - but for late-payers. Not content with following the British version of ...
IMA rings changes for bond sector.
Aug 04, 2008 ... Byline: James Kenny Firms will have until 29 August to agree on the sector into which their funds will be classified Following a recent review of the IMA Bond sector, the Investment Management Association has made a raft of changes to define the differences between a ...
Treasury announces asset management consultation.
Aug 04, 2008 ... Byline: James Kenny HM Treasury has pushed ahead with its intention to enhance the competitiveness of the UK's asset management industry through the introduction of three consultation papers. The papers were announced by Kitty Ussher MP, economic secretary to the ...
Newton announces move of Absolute Intrepid into new sector.
Aug 04, 2008 ... Byline: James Kenny Newton Investment Management announced it has moved its GBP365m Absolute Intrepid fund into the new IMA Absolute Return sector as it is better suited to the fund. The fund had previously been in the Active Managed sector. By shifting ...
Artemis paints bleak picture for banks.
Aug 04, 2008 ... Byline: Nick Rice Strategic Bond manager still sees retail opportunities amid financial crisis Banks could be hit by billions of pounds of future liabilities adding to the woes of the financial sector, Artemis Fund Managers has warned. James Foster, ...
Gas guzzler.
Aug 04, 2008 ... Byline: Jim Robinson If soaring petrol prices have got you down, take heart - a solution may have been found. One enterprising gentleman from the state of Texas has developed a clever, if slightly unscrupulous, technique for keeping the tank filled on the cheap. ...
NDFA launches two Plans.
Aug 04, 2008 ... Byline: Jim Robinson NDFA announced that it has launched two new structured products, the Regular Fixed Income Plan July 08 and the Fixed Income Plan July 08. The structured product specialist said both Plans would take advantage of new and more favourable rules ...
Henderson warns on low confidence.
Aug 04, 2008 ... Byline: Nick Rice Tony Dolphin predicts Europe and the UK could fall into recession in a few quarters Tony Dolphin, director of economics and asset allocation at Henderson, said the eurozone had increasingly recoupled to troubles in the US housing market, which he ...
Close announces new team after departures.
Aug 04, 2008 ... Byline: Nick Rice Close sales and marketing director declines to comment on whether firm will be seeking new Aim VCTs Close Investments has announced a new team for its UK smaller companies funds after Octopus Investments poached its UK smaller companies managers and ...
The ways UK IFAs are shaping the industry.
Aug 04, 2008 ... Byline: Jim Robinson A recent Lipper Feri report highlights differing investment attitudes between the UK and Europe In Lipper Feri's most recent assessment of the UK fund market, released a fortnight ago, the fund analysis firm addresses most of the topics expected ...
Handle emerging market bonds with care.
Aug 04, 2008 ... Byline: Jim Leaviss is head of retail fixed income at M&G Emerging market bonds have had a great run, but that could change overnight Emerging market sovereign bonds have had, until recently, a fantastic run. From the beginning of 2003 to the end of May this year, ...
Neptune Investment Management.
Aug 04, 2008 ... Byline: Nick Rice On page 1 of last week's Investment Adviser, the article "City Financial in talks for UK retail business" said the owners of City Financial in 2007 acquired ...
A downturn or something apocalyptic?
Aug 04, 2008 ... Byline: Phil Coggan However bad things get, a diversified portfolio is key to riding out recession Perhaps we are already in recession. The second quarter GDP figure showed just a 0.2 per cent quarterly gain and Royal Bank of Scotland reckons that, on a monthly ...
Survival of the fittest assets.
Aug 04, 2008 ... Byline: Tony Lanning is head of multi-manager at Gartmore Investment Management Amid a sharp divergence in performance, asset classes appear to be experiencing their own version of the Darwinian survival of the fittest, with the emergence of "winners" and "losers". ...
A flight away from quality.
Aug 04, 2008 ... Byline: Hugo Greenhalgh It started bad and, as I type this at 36,000 feet, it's getting worse. The car - or as Virgin insisted on calling what turned out to be a rather grotty grey Volvo, the limo - turned up 20 minutes late, its GPS system having broken down. Now ...
Arc looks to branch out.
Aug 04, 2008 ... Byline: James Kenny Arc Capital & Income is mooting the possibility of a number of new products as it looks to market its business to a broader client base. The structured product specialist, which recently launched a new version of its Fixed Income and Bull & Bear ...
AIC welcomes Customs' VAT back claim move.
Aug 04, 2008 ... Byline: James Kenny The Association of Investment Companies has welcomed the decision by HM Revenue & Customs to meet back claims of VAT for venture capital trusts. In the last budget in March, chancellor Alistair Darling announced VCTs would benefit from an ...
Hexam talks Turkey over European returns.
Aug 04, 2008 ... Byline: James Kenny Turkey will be the country that offers investors the best returns in Europe for the rest of 2008, according to Stuart Richards, manager of Hexam's GBP24m Emerging Europe fund. Although the country had a dismal beginning of the year due to a ...
OBSR awards A-rating to Fidelity funds.
Aug 04, 2008 ... Byline: James Kenny Fund ratings agency OBSR has awarded an A-rating to four different Fidelity Investments funds. Following meetings with the managers, the agency awarded Fidelity new ratings on its GBP2.4bn Special Situations, GBP2.3bn Global Special Situations, ...
Factoring in the risk.
Aug 04, 2008 ... Byline: Chris Traulsen The chart-topper in the Global Growth sector is Robin Geffen's Neptune Global Equity. The fund is up 23.5 per cent annualised over the five years to 25 July 2008, and has started to attract a serious level of assets: it had swelled to GBP639m ...
"As a group, we are saying we can change this market entirely - absolutely 100 per cent from the way it operated in the past".(Interview)
Aug 04, 2008 ... Byline: Hugo Greenhalgh Nucleus chief executive David Ferguson talks to Hugo Greenhalgh about giving power back to the IFA and the unsustainability of the current financial model Nucleus has been a long time coming for David Ferguson. When he first pitched the idea ...
Structured products back in fashion.
Aug 04, 2008 ... Byline: Tony Collins, managing director of Opal The liquidity crisis has led to demand for structured products, greatly increasing the range of products available Almost a decade has passed since the heyday of structured products but, since then, they have been ...
Edinburgh Dragon sees interest beyond Olympics.
Aug 04, 2008 ... Byline: James Kenny Survey reveals managers confident Chinese growth will continue after Games The increasing number of investors interested in China is not due to the Olympics, but to the massive growth the economy has achieved, according to Peter Hames, manager of ...
HICL completes aqcuisition of PFI interests.
Aug 04, 2008 ... Byline: James Kenny HSBC Infrastructure Company, the London Stock Exchange-listed infrastructure investment company, announced that it has completed the acquisition of additional interests in three Private Finance Initiative projects for GBP8.3m. In a statement, the ...
Jupiter sees valuation gaps as opportunities.
Aug 04, 2008 ... Byline: Nick Rice Manager predicts Europe still has strong growth characteristics and could latch onto emerging markets Valuation gaps have created opportunities in Europe excluding the UK, according to Cedric de Fonclare, manager of the GBP381m Jupiter ...
Skandia refutes T Bailiey's claims over MoMs.
Aug 04, 2008 ... Byline: Nick Rice Skandia Investment Group has rebuffed claims from T Bailey Asset Management about the disadvantages of managers of managers. Elliot Farley, analyst at T Bailey, has said funds of funds can move faster among a wider range of vehicles than managers of ...
Maia will continue to include emerging market debt, says partner.
Aug 04, 2008 ... Byline: Nick Rice Maia Capital has defended its use of emerging market debt following rampant inflation in the developing world. Jason Collins, partner at Resolution Asset Management's multi-manager boutique, said Maia would still include emerging market debt across ...
SVM in talent hunt to profit from upswing.
Aug 04, 2008 ... Byline: Nick Rice Managing director claims chances were missed to find managers who could take advantage of any lift Colin McLean, managing director, said when valuations in the US got to their lowest points, he wanted funds that could take advantage of any ...
It may be time for new investment tools.
Aug 04, 2008 ... Byline: Daniel Briggs is head of balanced funds at Sarasin & Partners Cautious managed funds are not immune from the threat of inflation, so an alternative approach might be necessary The credit crisis did not descend into the systemic financial crisis predicted by ...
db x-trackers looks to ETF market with Shariah product launch.
Aug 04, 2008 ... Byline: James Kenny Db x-trackers is hoping to break new ground in the ETF market with the launch of regional, Shariah-compliant ETFs on the London Stock Exchange. The three funds include the db x-trackers S&P 500 Shariah ETF, the db x-trackers S&P Europe ...
IMF sees no end in sight for credit crunch.
Aug 04, 2008 ... Byline: James Kenny There is no immediate end in sight for the credit crunch, and the current economic malaise will last well into 2009, according to the International Monetary Fund. In its latest quarterly world economic report, the IMF said it expected the current ...
Exposure to healthcare boosts Fidelity fund.
Aug 04, 2008 ... Byline: James Kenny Manager underweight in financials while taking advantage of opportunities in health A predilection for healthcare stocks has bolstered the performance of the GBP4bn Fidelity European fund during the global downturn, according to manager Tim ...
How the credit crisis is lingering on.
Aug 04, 2008 ... Byline: Owen Murfin is a fund manager on the fixed income team at BlackRock Macro problems such as inflation have shifted the focus from credit, but aftershocks are still being felt Credit markets have been in the eye of the storm since the collapse of the US ...
Are life's little luxuries at risk?
Aug 04, 2008 ... Byline: Peter Thomson is chief executive and chief investment officer at Taylor Young Investment Management Despite consumers tightening their belts recently, luxury goods could still prove resilient Is demand for luxury goods correlated with GDP growth? As a ...
Change in green attitudes will drive success.
Aug 04, 2008 ... Byline: Rob Griffin Jupiter fund manager Charlie Thomas talks to Rob Griffin about achieving capital appreciation under a policy of protecting the environment Charlie Thomas, the manager of the GBP307m Jupiter Ecology fund, believes the step change in the way people ...
JPMorgan positive on multinationals.
Aug 04, 2008 ... Byline: Nick Rice JPMorgan Asset Management has said the long-term outlook for US and European multinational consumer companies is strong despite worsening economic forecasts. Peter Kirkman, portfolio manager of the GBP6m JPMorgan Global Consumer Trends fund, said ...
Henderson launches onshore clone of Horizon fund.
Aug 04, 2008 ... Byline: Nick Rice Manager can use Ucits III powers to produce annualised return of Libor plus 250 basis points Henderson Global Investors has launched an onshore clone of its 480.3m (GBP379.1m) Horizon Absolute Return Fixed Income fund. The ...
Nucleus predicts raft of wraps for the UK.
Aug 04, 2008 ... Byline: Nick Rice Chief executive maintains consolidation will follow in sector following wraps proliferation Nucleus Financial Group has said the UK will see 10 new wrap platforms by 2010, but predicted consolidation would follow in the sector. David ...
Hanging on in during challenging times.(Interview)
Aug 04, 2008 ... Byline: Rob Griffin Henderson fund manager Manraj Sekhon talks to Rob Griffin about investing in any sector, anywhere in the world Manraj Sekhon, manager of the GBP49.9m Henderson International fund, believes the secret to running money is being able to keep your ...
VCTs a victim of their own success.
Aug 04, 2008 ... Byline: Nick Rice A year ago private equity was providing excellent returns, but now UK venture capital looks a little less rosy Campaigning for the private equity and venture capital industry now compared with a year ago is like abandoning King Midas for one of his ...
Valuation gaps offer opportunities in Europe: Jupiter.
Aug 04, 2008 ... Byline: Nick Rice Valuation gaps have created opportunities in Europe excluding the UK, according to Jupiter Unit Trust Managers. Cedric de Fonclare, manager of the GBP381m Jupiter European Special Situations fund, said valuations of blue-chip continental companies ...
SVM seeks US value talent in view of market rally.
Aug 04, 2008 ... Byline: Nick Rice SVM Asset Management's multi-manager team has said it is looking for US value talent in anticipation of a market rally. Colin McLean, managing director, said when valuations in the US got to their lowest points, he wanted funds that could take ...
Skandia defends managers of managers.
Aug 04, 2008 ... Byline: Nick Rice Skandia Investment Group has rebuffed claims from T Bailey Asset Management about the disadvantages of managers of managers. Elliot Farley, analyst at T Bailey, has said funds of funds can move faster among a wider range of vehicles than managers of ...
Maia Capital defends use of emerging market debt.
Aug 04, 2008 ... Byline: Nick Rice Maia Capital has defended its use of emerging market debt following rampant inflation in the developing world. Jason Collins, partner at Resolution Asset Management's multi-manager boutique, said Maia would still include emerging market debt across ...
Credit crunch to continue into 2009, IMF warns.
Aug 04, 2008 ... Byline: James Kenny There is no immediate end in sight for the credit crunch, according to the International Monetary Fund (IMF). In its latest quarterly world economic report, the IMF said it expected the current economic malaise to last well into next year, adding ...