What Investment articles from July 2003

What Investment archives from July 2003

Three cheers for ... (Comment).
July 1, 2003... When we first started to put together the What Investment Fund Management Awards this year, there were a few worried faces around the editorial office. After a three-year bear market, just what were the chances of giving out an award to a fund...

False hopes. (News Round-up).(Brief Article)
July 1, 2003... FSA projections on with-profits annuities are misleading retirees and should be revised in accordance with current market conditions, according to independent annuity specialist The Annuity Bureau. In line with FSA requirements, life...

The MVR reality. (News Round-up).(Market Value Reductions)(Brief Article)
July 1, 2003... Market Value Reductions (MVRs) on with-profits funds are here to stay according to a survey by Investment, Life & Pensions Moneyfacts. The survey, which has researched MVAs and early encashment charges on all with-profits funds, revealed that...

Fixing it. (News Round-up).(exchange-traded funds)(Brief Article)
July 1, 2003... The first UK fixed income exchange-traded funds (ETFs) have been listed on the London Stock Exchange. The iShares bond, launched by Barclays Global Investors, will give investors diversified and transparent access to highly liquid...

Multi-tie preparation. (News Round-up).(Brief Article)
July 1, 2003... HSBC has signed up to sell the funds of five top fund providers through its branches. The bank's qualified financial planning managers across 1,600 branches will now be able to offer investment advice on an extended range of funds from fund...

Give it structure. (News Round-up).(Nvesta)(Brief Article)
July 1, 2003... A guide to structured products has been launched by product provider Nvesta. The Thinking Behind Structured Investments aims to improve investor understanding of these products and highlights the factors investors should consider before...

Tax treatment. (News Round-up).(Brief Article)
July 1, 2003... The Investment Management Association has launched a free factsheet explaining the information that unit trust and OEIC investors are required to report to the Inland Revenue on their 2002-2003 tax return. Unit Trusts and Tax--Completing Your...

Pound stretcher. (News Round-up).(E*TRADE Financial)
July 1, 2003... E*Trade is offering 24-hour real-time currency trading to UK investors at www.etrade.com. The broker will pass on institutional spreads to retail investors rather than the traditional fixed spreads with built-in mark ups. In return, a flat rate...

Taking issue: Nic Cicutti reports on the latest issues rocking the world of finance. (July News).
July 1, 2003... It's time to make a confession: I'm a fan of guaranteed investment products. Now, I know that a financial journalist divulging such information can provoke the kind of scandalised reactions once seen only in H M Bateman cartoons, where social...

Top ten funds. (July News).
July 1, 2003... Unit Trusts One year 1 Deutsch GSpec Pass Euro Gov Bd B 127.59 2 Insight Inv GI Euro Bd A GBP Acc 120.99 3 Pall Mall High Yield Eur Plus 120.39 4 Threadneedle Euro Bd C1 Inc 119.99 5 UBS Global Bond Exempt ...

Standard Life. (New offers).(Standard Life Investments Ltd.)
July 1, 2003... Standard Life Investments has launched the Select Income fund. The fund will aim to provide a yield of between 6.5 and 7 per cent by investing in a mixture of investment-grade and sub-investment-grade bonds. A minimum of 80 per cent of the fund...

Star rating guide. (New offers).(Brief Article)
July 1, 2003... ***** Outstanding value for money **** Good value compared to other investments *** Reasonable value, but there may be better opportunities elsewhere ** Below average * Poor

Iimia. (New offers).
July 1, 2003... Independent investment company Iimia has launched the Accelerated Fund, a fund of investment trusts. The fund will invest in around 40 trusts listed in the UK and will cover global markets. The fund will be benchmarked against the FTSE...

Chartwell. (New offers).(Brief Article)
July 1, 2003... IFA Chartwell is offering the Capital Secure Plan in conjunction with Keydata. The plan provides 100 per cent capita] protection alongside an investment linked to the performance of the FTSE 100. There is a maximum term of six years, with...

JO Hambro. (Product of the month).
July 1, 2003... JO Hambro has launched two European investment funds: JOHCM European Select Values and JOHCM European fund. The Select Values fund will invest in 35 to 45 mid-cap stocks in developed European countries with the aim of achieving capital growth....

Witan Investment Trust. (Also launching this month ...).(Brief Article)
July 1, 2003... Witan Investment Trust is currently waiving the 1 per cent sharedealing charge on regular savings through its share plan until 30 September and is offering free transfers for all PEPs into Witan for the foreseeable future. Call 0800 082 81 80.

Nvesta. (Also launching this month ...).(Brief Article)
July 1, 2003... Nvesta has launched the FTSE Focus Secure Plan, a three-year plan offering 7 per cent annual income or 0.55 per cent per month. There is also a 21 per cent growth option. There will be a 100 per cent capital return if the FTSE 100 does not fall...

Britannia Building Society. (Also launching this month ...).(Brief Article)
July 1, 2003... Britannia Building Society has launched the Secured Growth Plan, offering 100 per cent capital guarantee and a return of up to 69 per cent over five years. There is a minimum return of 7.5 per cent even if the stock market falls. Returns are...

HSBC. (New offers).
July 1, 2003... HSBC has launched tranche two of its Capital & Growth Plan. The bond is linked to the performance of the FTSE 100 and will close after either three or five years if the index has risen by 21 per cent or 55 per cent respectively. If these levels...

Panel of experts. (July News).(Brief Article)
July 1, 2003... * Patrick Connolly is a director at Chartwell Investment Management * Philip Johnson is a director at Kenwood Associates * Milena Atanassova is a financial adviser at Rickman Tooze * Ben Yearsley is an investment manager at...

Managers on the move: should you stay or should you go? What Investment looks into the reasons behind recent fund manager moves. (Fund Managers).
July 1, 2003... Much of the movement of fund managers over the past month or so has been sparked off by the decision of Invesco Perpetual to concentrate its investment management teams in one location and deciding that the location should be Henley. Ever since...

Holes in the defence: when it comes to protection and guarantees, it pays to study the small print. (Focus: guaranteed products).
July 1, 2003... The last three years have been as turbulent a time for investing in the stock market as many can remember, but with interest rates so low, investors looking for reasonable returns have found themselves facing a real dilemma. The answer to...

What Investment Awards 2003: welcome to the What Investment Awards 2003, where we unveil the top performers in the world of fund management. (Fund awards: 2003 Awards).
July 1, 2003... It's been another tough year for investors and fund managers alike, but amidst the doom and gloom a number of fund managers have turned in a stellar performance. Now in their 19th year, the What Investment Awards aim to reward those managers...

Unit Trust Management Group of the Year: our main award goes to Fidelity Investments for displaying strong and consistent performance across its range of unit trusts. (Fund awards: 2003 Awards).
July 1, 2003... After knocking Jupiter Asset Management off the top spot last year, Fidelity Investments has returned once again to take the crown as Unit Trust Management Group of the Year. Since Fidelity's foundation in the US more than 50 years ago,...

Specialist Unit Trust Group of the Year: Fidelity Investments walks off with the winner's medal in the Specialist Unit Trust Group of the Year. (Fund awards: 2003 Awards).
July 1, 2003... The Specialist Unit Trust Group Award focuses on fund management companies with unit trusts invested in overseas markets and specific areas of the stock market. Congratulations this year go to Fidelity Investments. Since Fidelity's...

Unit Trust Manager of the Year: Hugh Hendry takes top spot on the podium in the Unit Trust Manager of the Year Award with the Odey Continental European fund. (Fund awards: 2003 Awards).
July 1, 2003... As with the group award, this category measures a fund's returns relative to similar objectives. This ensures that the results are not influenced by the success of the sectors in which they happen to be invested. And the prize this year goes to...

Most Consistent Unit Trust of the Year: despite a three-year bear market, Fidelity MoneyBuilder Global takes the prize this year for the most consistent unit trust performance. (Fund awards: 2003 Awards).
July 1, 2003... A new category in the What Investment Fund Management Awards, the Most Consistent Unit Trust Award focuses on the performance of funds over a five-year period. One-year performance figures were run on a three-month rolling basis over five...

Investment Trust Management Group of the Year: in our main investment trust award, Aberforth Partners takes the silverware. (Fund awards: 2003 Awards).
July 1, 2003... Scotland takes the spoils in the Investment Trust Management Group category, with both the winning group and the runner-up based in Edinburgh. It was a close-run thing, but Aberforth Partners emerged a clear winner, ranked first by one of our...

Generalist Investment Trust of the Year: runaway winner in the category for the Generalist Investment Trust of the Year is Fidelity Special Values. (Fund awards: 2003 Awards).
July 1, 2003... Fidelity Special Values was a clear winner in the Best Generalist Investment Trust category, coming top of the lists of two of our panel members and second in the third list. Fidelity Special Values is classified as a UK Growth trust, and has...

Specialist Investment Trust of the Year: top specialist investment trust this year is the Merrill Lynch World Mining trust. (Fund awards: 2003 Awards).
July 1, 2003... The Best Specialist Investment Trust category is a new one for the What Investment Awards, and it brings with it its own set of problems. First and foremost is the difficulty in trying to compare the performance of a number of different trusts,...

Most Consistent Investment Trust of the Year: fidelity European values shows that consistency is the name of the game. (Fund awards: 2003 Awards).
July 1, 2003... This another new category for the What Investment Awards, designed to reward those trusts that have achieved the most consistent returns over the past five years. These comparative records were very closely matched for all our shortlisted...

Best Unit Trust Provider: and the winner in the Best Unit Trust Provider Readership Award category is ... Marks & Spencer Unit Trusts. (Reader awards: 2003 Awards).
July 1, 2003... We now turn to the first of our Readership Awards 2003, the Best Unit Trust Provider. Times is tough in the world of fund management these days. A three-year bear market and an increasing number of fund management groups and fund offerings...

Best Investment Trust Provider: congratulations to The Alliance Trusts, which was voted Best Investment Trust Provider by What Investment readers. (Reader awards: 2003 Awards).
July 1, 2003... What is particularly noticeable about the top-placed companies in our Best Investment Trust Provider category is that they have all been key campaigners in the battle to bring investment trusts to a wider audience. They have emphasised the need...

Best Stockbroker: top of the pops in the Best Stockbroker award is Halifax Share Dealing. (Reader awards: 2003 Awards).
July 1, 2003... Simplicity is best when it comes to share-dealing services, according to voters in the Best Stockbroker category of our awards. As well as flat-rate trading fees, voters were also keen on services that allowed them to trade online and in real...

Best Independent Financial Adviser: romping home with the accolades in the Best IFA category this year is Chase de Vere. (Reader awards: 2003 Awards).
July 1, 2003... How much do you know about your independent financial adviser? The truth of the matter is that far too many of us know far too little about the firms we entrust our money to. But generally speaking, when it comes to judging our financial...

Best Pension Provider: Scottish Widows takes the award for the Best Pension Provider in 2003. (Reader awards: 2003 Awards).
July 1, 2003... The poor old pension industry has come in for a rough ride in the recent past, suffering as it has from industry scandal and stock market decline. In the light of calls from the government and industry alike for UK investors to increase their...

How to spot a recovery: there is a general air of gloom over equity markets, but how will small investors recognise the signs when the recovery begins? Ian McLeish, manager of the Scottish Investment Trust, reports. (Spotting a recovery).
July 1, 2003... For many people in the UK there has been no economic setback. Employment levels are high, wage growth is reasonable, consumer spending has continued to grow and house prices have remained strong. There has been no recession in the commonly...

Simply SIPPs: Ian Smith explains why SIPPs make a great alternative to traditional pension arrangements. (Q & A).(self-invested personal pension)
July 1, 2003... Ever had a problem getting clothes that fit? Find that off-the-peg outfits gape in all the wrong places? If you have then spare a thought for investors trapped in the one-size-fits-all world of pensions. Fifteen years ago, the only pension...

United Kingdom: the tempo increases. (World Markets).
July 1, 2003... A weak pound and low interest rates keep the UK economy on track Nicola Horlick, chief executive of SC Asset Management, is upbeat about the prospects for the UK stock market, arguing that, following the falls of the past couple of years,...

United States: lean but mean. (World Markets).
July 1, 2003... Cost-cutting and a weak dollar keep things moving, but the underlying news is not great "Optimism about a post-Iraq War recovery in earnings, allied with some strong results from the financial and pharmaceutical sectors, has seen equities...

Europe: staging a recovery. (World Markets).
July 1, 2003... Valuations are attractive, liquidity is being pumped up by central banks, and the process of balance sheet repair is underway "It is true that European equities have staged a remarkable recovery over the last two months, and now the...

Far East: opportunities galore. (World Markets).
July 1, 2003... Sars has provided fund managers with an opportunity to top up portfolios with quality companies at a discount "We are adopting a stance of cautious optimism in the Asian ex-Japan region for the medium term, with the future sustainability of...

Japan: plagued by problems. (World Markets).
July 1, 2003... Economic indicators were mixed this month but overall sentiment remains poor "On the economy, Japan has had a mixed bag of announcements--a neutral Bank of Japan 'Tankan' economic sentiment survey, declining personal bankruptcies on...

Emerging markets: mixed views. (World Markets).
July 1, 2003... Valuations continue to be attractive while stock markets have rallied on the back of strong regional currencies "On a 12-month view, we remain cautious on the global economic outlook and hence the outlook for emerging markets," says Jeff...

Market insider: Italy: continuing our series providing a fundamental analysis of a region from an economic and political perspective. This month, Michael Wilson considers the outlook for Italy. (World Markets).
July 1, 2003... It's a scene that Gilbert & Sullivan would have enjoyed. Right at the very moment when Italy is reaching for its highest political honour within the newly powerful European Community, its most powerful leader is having to fight off personal...

Market view. (UK Shares).
July 1, 2003... The old adage is "sell in May and go away until St Leger's Day". Anyone, who did that this year will have been kicking themselves--it seemed almost as if we were back in the heady days of 1999. The FTSE 100 Index jumped by 4.47 per cent between...

UK stock performance. (UK Shares).(Illustration)
July 1, 2003... UK STOCK PERFORMANCE Rank Company Weight in 1 Month Name Index Return TOP 20 FTSE All-Share 1 Ashtead Group 0.01% 109.68% 2 Pace Micro...

FTSE 100 Index. (UK Shares).
July 1, 2003... FTSE 100 INDEX Stock 1 month Rank 1 year Rank 3i Group Inv Tr 126.45 4 78.56 58 Abbey National 113.61 11 50.95 93 Alliance & Leicester ...

Index constituent rankings FTSE 100. (UK Shares).
July 1, 2003... INDEX CONSTITUENT RANKINGS FTSE 100 Dividend Divi- Yield dend Rank Stock Price (%)...

Small-caps sector view. (UK Shares).
July 1, 2003... The rationale behind buying smaller-company shares is clear; as Jim Slater put it: "Elephants don't gallop!" Which is more likely to rise in value by 1,000 per cent--Marks & Spencer or a tiny 'growth' company currently valued at 2 million...

Small-caps share view. (UK Shares).
July 1, 2003... The diversity in the small-cap universe makes it a fascinating area to work in. As an illustration, among my top picks on my small-cap website (www.t1ps.com) are an Egyptian gold explorer and a name from high streets across the Western world....

European sector review: Hilary Cook, director of investment strategy at Barclays Private Clients, examines the prospects for the European utilities sector. (Stock Market Review).
July 1, 2003... In view of the current weakness of economies across the world, investors are starting to favour stocks that are inherently safe, such as utilities. Utilities in Europe can be split broadly between traditional power companies and...

Unit trust best buys: What Investment asks three independent financial advisers to recommend their favourite unit trusts for a cautious, a balanced and an aggressive investment. (Unit trusts: monitor).
July 1, 2003... CAUTIOUS OPTION Martyn Ingram of investment consultancy, The Investors Partnership suggests Jupiter High Income for investors who want a reasonable return without taking too much risk. The fund is ranked fifth out of 34 funds in the UK...

Unit trust performance tables. (Unit trusts: OEICs).(Illustration)
July 1, 2003... What the tables show The figures show the value of 100 [pounds sterling] over six months, one, three, five and ten years to 30 May 2003, on an offer-to-bid basis with net income reinvested. Funds are listed by sector so that you can...

The art of caution: Keiron Root meets Chris Burvill, a fund manager whose every move is governed by risk (Fund manager: profile).(Gartmore Cautious Managed fund manager)
July 1, 2003... Given the way stock markets have been stubbornly refusing to perform for more than three years, it is understandable that investors have been looking for ways to spread their risk as widely as possible. One way of doing this is to use a managed...

Investment trust best buys: What Investment asks three independent financial advisers to recommend their favourite investment trusts for a cautious, a balanced and an aggressive investment. (Investment trusts: monitor).
July 1, 2003... CAUTIOUS OPTION Kenneth Harper, investment trust analyst at Bell Lawrie White, suggests a generalist investment trust with a strong track record as an option for investors who do not want to take too much risk. British Empire Securities &...

Investment trust performance tables. (Investment trusts).
July 1, 2003... What the tables show The figures show the value of 100 [pounds sterling] invested over six months, one, three, five and ten years to 30 May 2003, on a mid-market basis with net income reinvested. Funds are listed by sector so that you...

Money clinic: a panel of independent experts answer readers' financial planning and investment queries.
July 1, 2003... Gilt-edged investments Having lost the shirt off my back in the stock market falls of the last few years, I've decided to look for a safe haven. A friend has mentioned that index-linked gilts may be a good option, but I don't know a whole...

Best ways to save. (Reference).(Illustration)
July 1, 2003... NO-NOTICE ACCOUNTS Company Account Gross Interest Name Rate Freq. Balance of 500 [pounds sterling] ING Bank (0870 902 8888) Direct...

Personal pension annuity rates. (Reference).
July 1, 2003... An annuity is a financial product that converts capital into income. You can buy one with any lump sum of money or you can buy one with accrued pension funds. Currently, for money purchase pension funds, you must buy an annuity by the time you...

Top-performing unit-linked pensions. (Reference).(Illustration)
July 1, 2003... Top-performing unit-linked pensions Five years to 30 May 2003. Results of 100 [pounds sterling] invested on an offer-to-bid basis with gross income reinvested. Name Value Rank ...

Financial contacts ISA directory.(Directory)
July 1, 2003... ISA Directory NAME & ADDRESS NAME OF SCHEME TYPE Abbey National[R] Investments ISA Stocks & Shares Tel: 0800 30 20 30 Safety Plus Growth Cash ...