Investment Adviser articles from December 2002

Investment Adviser archives from December 2002

Online broker to offer advice service.(Charles Schwab Europe)(Brief Article)
December 2, 2002... Charles Schwab Europe, the online stockbroker and funds supermarket, is to launch an investment advisory service early next year. Will Kinsman, commercial director of Schwab, said: "Given current market conditions, were seeing increased...

With profits provider makes a smooth move; Scottish Mutual launch stokes fears that days of traditional bond are over.(Brief Article)
December 2, 2002... EXCLUSIVE by SIMONEY GIRARD Scottish Mutual will launch an onshore and offshore smoothed managed fund by January 2003. The company said it was enhancing its with profits range according to guidelines set out by the former head of...

Investec drops out of Rothschild race.(Investec Asset Mngt)(Brief Article)
December 2, 2002... by SIMONEY GIRARD Investec Asset Management has pulled out of its bid to buy Rothschild Asset Management. The South African-owned investment house, which had been touted as one of the most likely candidates to buy the troubled...

Appointments.(Merrill Lynch has announced the appointment of Christopher Garman)
December 2, 2002... Merrill Lynch has announced the appointment of Christopher Garman as head of high-yield bond strategy. Mr Garman replaces Marti Fridson, and was previously number two in the strategy team, responsible for providing analysis of market...

Sackings are good for the industry; Credit Suisse boss says it is healthy to dispose of managers who have not performed.(Brief Article)
December 2, 2002... BY Simoney Girard Fund manager sackings are good for the industry, according to Rob Burdett of Credit Suisse Asset Management. Mr Burdett, director of Credit Suisse and joint manager of the multi-manager range, said sacking managers...

Baby boom could help boost Asia.(Brief Article)
December 2, 2002... Demographic trends in Asia should lead to increased consumption and a dividend for shareholders, according to Legal & General. Andrew Clare, financial economist at the life office, pointed to a baby-boomer effect similar to that which...

Investors still flock to corporate bonds.(Brief Article)
December 2, 2002... Investors are still heading towards corporate bonds, according to the latest unit trust data from the Investment Management Association. The UK corporate bond sector accounted for 21 per cent of all retail gross sales, compared with 13 per...

Diary.(Column)
December 2, 2002... The trials of travelling When it comes to travelling, whether it be abroad or in the UK, members of the Winterthur Life team seem to encounter a few problems along the way. Prior to a work trip abroad, one employee of Winterthur Life could...

New classes for Barings hedge.(Baring Asset Mngt)(Brief Article)
December 2, 2002... Baring Asset Management has launched two new share classes for its Hedge Select fund. From 1 December, investors will be able to access the sterling and euro hedged share classes for the fund, allowing them to minimise the currency risk of...

Investor confidence is demolished by scandals; Survey finds cynicism and mistrust in accountants, auditors, directors and reports.
December 2, 2002... By Simon Falush Investors have become more cynical and less trusting of companies, according to research from ProShare. The organisation that promotes share ownership said waves of accounting standards and falling markets had led to...

Kreis industrial fund launch to invest in two warehouses; Gearing of 75 per cent will generate 9 per cent income for investors with GBP19,400 to spare.(Kreis Consulting, UK Industrial Income fund)
December 2, 2002... By Simoney Girard Kreis Consulting, an enterprise investment scheme specialist, has launched its UK Industrial Income fund. The new industrial property fund is banking on 75 per cent gearing to provide 9 per cent income for investors,...

Too many funds are chasing too few clients.(Brief Article)
December 2, 2002... There are too many European funds for too few clients, according to a survey from PriceWaterhouseCoopers. Poor market conditions and open product architecture have combined to limit the demand for funds at a time when there is an...

FSA changes will not avert PI crisis.(Personal indemnity)(Brief Article)
December 2, 2002... the FSAs modifications to professional indemnity insurance rules will have no significant effect, Compliance Consultants has claimed. In its latest Occasional Paper, the firm said: "Most firms obtaining cover under the new modified rules...

EIS based on sports management firm.(enterprise investment scheme, Essentially Sport)(Brief Article)
December 2, 2002... Hotbed, a private equity specialist, has raised GBP250,000 from investors for sports management company Essentially Sport. Despite wobbly stock markets and poor investor confidence, it was Hotbeds third round of equity funding for target...

BAM aims to spread its good news.(Baring Asset Managements funds; Hilary Denby-Jones )(Brief Article)
December 2, 2002... HILARY Denby-Jones has been given the job of shoring up IFA perception of Baring Asset Managements funds. It is hoped her promotion from head of UK product development to group head of marketing will help the company develop its range of UK...

Radical change needed by wealth managers; Research finds many firms offer a poor service and cannot justify fees.(Brief Article)
December 2, 2002... By Charlotte Wretman Many wealth managers provide poor services and find it difficult to justify their fees, according to IBM Financial Services. The survey, conducted by the consultants in conjunction with wealth management...

OWC fine wine fund aims to always be in the red.(OWC Asset Management's Vintage Wine Fund )(Brief Article)
December 2, 2002... OWC Asset Management has launched the first fine wine investment fund, The Vintage Wine Fund. Registered offshore in the Cayman Islands, the fund aims to raise GBP32m by January 2003, targeting high net worth individuals. Gary Boom,...

SRI funds holding up in tough times.(socially responsible investments)(Brief Article)
December 2, 2002... Investment in socially responsible funds is holding up despite poor market conditions, according to a report from Cerulli Associates. Stephen Irving, author of the report, put this down to the behaviour of SRI investors. He said: "Social...

GE Capital to raise GBP13bn with bonds.(GE Capital Bank GmbH)(Brief Article)
December 2, 2002... GE Capital bank has announced a sale of up to GBP13bn of bonds. The bank is targeting retail investors in a bid to boost interest in the company rather than selling debt to institutional investors. The news follows Allianzs two-part...

IFDS adds weight to Cofunds.(International Financial Data Services)
December 2, 2002... A FIFTH group has added its financial muscle and fund expertise to Cofunds, the IFA-only fund supermarket. International Financial Data Services, the UK and US fund administrator, has joined original shareholders Gartmore, Jupiter, M&G and...

Shake-up is planned for offshore tax regulations.(Brief Article)
December 2, 2002... The chancellor has announced plans to bring offshore fund taxation into line with that for collectives based onshore. This followed the first review of offshore funds legislation for 20 years announced in the last Budget. The review paper...

UK bond prices under threat by borrowing; Chancellors pre-Budget report announces extra borrowing of GBP20bn over two years.
December 2, 2002... By Jason Corcoran Economic experts have warned that the chancellors additional borrowing for next year could push UK bond prices downwards. In his pre-Budget report, Gordon Brown announced that he would borrow GBP9bn more than forecast...

Baby bond plans are outlined.(Brief Article)
December 2, 2002... The government has fleshed out its plans for baby bonds in its pre-Budget report. Gordon Brown, the chancellor, has opted for distributing the proposed child trust funds via the open market. There are plans for additional government...

Chancellor missed an opportunity, says Apcims.(Association of Private Client Investment Managers and Stockbrokers )(Brief Article)
December 2, 2002... Apcims has accused the chancellor of winding up the savings timebomb with measures in his pre-Budget report. The Association of Private Client Investment Managers and Stockbrokers said the chancellor had missed an opportunity to raise...

CSAM prepares for big push in Europe; Three new funds will pave the way for expansion following rule changes.(Credit Suisse Asset Management )
December 2, 2002... Exclusive By Simoney Girard Credit Suisse Asset Management is planning three fund launches to prepare for a pan-European drive in 2004. Subject to regulatory approval, the three funds will be a global balanced, a European equity...

15 funds are added by Sterling.(Sterling Assets Corp.)(Brief Article)
December 2, 2002... Sterling, Zurichs IFA brand, has added 15 new funds to its investment bond and Isa and Pep transfers. There are now 102 funds available through the fund and 87 through Pep and Isa transfers. The new funds come from eight managers, including...

Growth in continental fund market has slowed.(Brief Article)
December 2, 2002... Growth in the size of the European fund management market has slowed, according to Datamonitor. Oliver Guirdham, financial services analyst at Datamonitor, said that growth had fallen to 8.6 per cent in 2000 compared with an average of...

UK and US tipped to out-do Europe.(Brief Article)
December 2, 2002... The fiscal policies of the US and UK will help them outperform their European counterparts, according to Standard Life Investments. The firm said the UK performed admirably during the recent period of global instability, with the investment...

Share trading volumes hit a low.(Brief Article)
December 2, 2002... Share trading has fallen to its lowest level since 1998 and internet trading is failing to take off, according to Compeer. Data collected by Compeer, a market analyst, showed the overall number of trades for the third quarter of 2002 was...

Manduca returns to run new Oeic at UBS; Star manager to run new smaller companies fund after success in sector at Gartmore.(UBS Asset Management; Frank Manduca)(Brief Article)
December 2, 2002... By Simoney Girard UBS Asset Management will launch a UK smaller companies Oeic next year. The "plain vanilla" UBS Smaller Companies fund will be available in February 2003, pending authorisation from the Financial Services Authority....

SRI funds added by Friends.(Friends Provident has added two socially responsible investment funds)(Brief Article)
December 2, 2002... Friends Provident has added two socially responsible investment funds to its Investment Portfolio Bond. The Friends Provident Stewardship International fund applies rigorous screening against stocks with unethical businesses or poor...

Schroders sticks to the basics to hit the top 10.(Brief Article)
December 2, 2002... BRITAINS housing shortage has helped lift the Schroder UK Mid250 fund into the sectors top 10 funds over three years. The GBP311m fund run by Andy Brough has marked its third anniversary with a performance that places it within the top 3...

Glynn quits Jupiter after seven years.(Steve Glynn)(Brief Article)
December 2, 2002... Steve Glynn, joint managing director of Jupiter, has left after seven years at the fund manager. He said he had no idea what he was going to do next, and would be replaced straight away by Gordon Davidson, currently northern sales...

Cavendish in rebate challenge.
December 2, 2002... Cavendish Online, a discount broker, has thrown down the gauntlet to rivals by launching a fee-based renewal commission cashback service. IFAs and discount brokers advising on Isas, Peps, Oeics and bonds receive a renewal commission from...

Gartmores new star to head cautious fund; Chris Burvill, poached from Investec, will manage product being launched in New Year.
December 2, 2002... By Simoney Girard Gartmore Investment Management is planning to launch a cautious managed fund in January. The fund, called the Gartmore Cautious Managed fund, will be the first of the fund managers offerings in the sector. Chris...

Lazards hire pair to boost fixed income.(LAZARD Asset Management)(Brief Article)
December 2, 2002... LAZARD Asset Management has moved to boost its fixed income division with two appointments. It has recruited Steven Blitz to run its global fixed income business and J William Charlton to be head of US high-yield fixed income, both joining...

Irons returns as investment chief.(Karen Irons, John Scott & Partners)(Brief Article)
December 2, 2002... John Scott & Partners, the discretionary portfolio manager, has recruited an ex-Rothschild fund manager as an investment director. Karen Irons replaces Clive Hale, who was recently poached by Skandia to work on its new manager of manager...

Fear of big payouts hits splits profits; Broker Brewin Dolphin has announced a GBP2.5m charge to profit and loss account.
December 2, 2002... By Sam Dunn THE spectre of multi-million pound splits compensation payouts has begun to bite into the sectors profitability. Last week, stockbroker Brewin Dolphin unveiled a GBP2.5m charge to its profit and loss account in anticipation...

EFM asks chief exec to quit.(Ian Watt; Edinburgh Fund Managers)(Brief Article)
December 2, 2002... Ian Watt, chief executive of Edinburgh Fund Managers, has quit suddenly after being asked to leave. In addition, non-executive directors John Wright, chairman; Sir Angus Grossart, deputy chairman; Donald MacDonald, director; and Johnnie...

Brown gives kids a boost.
December 2, 2002... By Jason Corcoran Chancellor Gordon Brown last week revealed plans for a universal account for children boosted by an endowment from the government. Early plans envisage the child trust fund would start at GBP250 for each baby, and...

Budget deficit hits gilts market hard; The need for extra gilt issuance to cover spending plans is taking a toll, says Helen Delaney.
December 2, 2002... The markets fears were confirmed last week when, in his Pre-Budget Report, Chancellor Gordon Brown cut forecasts for UK economic growth for 2002 from 2.5 per cent to 1.6 per cent. He also announced that government borrowing for 2002 would...

Gilts seen as a safe haven.
December 2, 2002... The UK Gilt sector consists of funds that invest at least 90 per cent of their assets in UK government securities. There are 38 funds in the conventional UK Gilt sector, which was created in May this year, when the former UK Gilt sector was...

HSBC Gilt & Fixed Interest Fund: Taking a defensive approach to 2003.
December 2, 2002... The GBP80.3m HSBC Gilt and Fixed Interest fund was launched in October 1980. Andrew Cope has been at the helm since the third quarter of 1998. In terms of performance, the fund registered relatively good returns over the long-term and...

HSBC Gilt & Fixed Interest Fund: Manager Comment; Andrew Cope.(Brief Article)
December 2, 2002... The first thing to say about the UK Gilt sector is that it is made up of diverse funds. In particular there are different funds in terms of index linked ones and more traditional funds with very different benchmarks. Over the short-term...

Gilts price in the economic gloom.
December 2, 2002... Helen Delaney The UK Gilt Fund sector is typically one of the less popular ones. However, in times of volatility in equity markets government treasuries look more attractive as investors look for less risky funds. While gilt funds are...

FT Fund Ratings: UK Gilt funds.(table introduction)(Brief Article)
December 2, 2002... Investment Advisers Fund Ratings service provides detailed RCP (Risk, Charge, Performance, Ratings on authorised UK unit trusts, investment trusts and Oeics). We show Risk, Charge and Performance ratings where available for all funds. Where no...

DEWHIRSTS VIEW: Gilts: now is the time to sell; Nick Dewhirst.(Column)
December 2, 2002... This segment of the funds market is offering a once-in-a-lifetime opportunity to sell. What can possibly be better? On the one hand the competition from equities has been slaughtered by a triple whammy. Over the past two years there has...

Taming the bear; While most funds have struggled over the past year, a handful have fared better.
December 2, 2002... Helen Delaney With markets still suffering from volatility and the economic outlook uncertain, investors are placing more emphasis than ever before on the performance of individual funds. While the markets have proven challenging, to...

Bonds growing pains; The sterling bond market has appeared to be doing well, but it is in fact highly inefficient and illiquid and does not yet match the transparency of equities.
December 2, 2002... JOHN ANDERSON As equity markets continue to struggle, in what many now believe to be a permanent environment of low inflation and low investment returns, bond markets receive increasing attention as alternative investments. As an asset...

Amateur movie moghuls; The high costs and high risks of movie-making mean there are few good opportunities for retail investors.
December 2, 2002... John Kelly The phenomenon of a blockbuster film is not new, but it is an increasingly important part of the business and social calendars. The events have glamour and generate huge amounts of money, but from the investors perspective,...

US has a long way to go before reaching fair value; Andrew Smithers, chief executive of Smithers & Co, talks to Investment Advisers Ayse Ferliel about the prospects for global stock markets.(Interview)
December 2, 2002... Investment Adviser: Have we replaced "irrational exuberance" the term first coined by Professor Robert Shiller of Yale University and the Fed chairman Alan Greenspan with excessive pessimism? Andrew Smithers: No, not yet. The American...

Taking the time to offer a quality global unit trust; Peligrin Fund takes sector seriously which is more than can be said for others.
December 2, 2002... Mark D, Head of Research, Hargreaves Lansdown Within the unit trust industry it is difficult to find quality global funds. Unlike the investment trust sector, which generally treats these types of funds as flagship funds and here you...

Property faces the prospect of a big crash; Property has at last responded to the laws of economic gravity at least in London.
December 2, 2002... Philip Coggan, Investment Editor Financial Times The cracks are starting to appear. Nationwides and Halifaxs house price indices may still be climbing at more than 20 per cent a year, but the London market, hit by City layoffs and lower...

Flying by economy class.(Brief Article)
December 2, 2002... Chancellor Gordon Brown signalled a big rise in government borrowing last week as he told MPs he was downgrading his hopes for UK economic growth. Delivering his pre-Budget report, he said borrowing would rise to GBP20bn this financial...

Things set to get better in 2003; The UK economy is poised for an upturn next year, with a corresponding rise in equities.(Brief Article)
December 2, 2002... Richard Buxton As 2002 draws to a close, investors will be hoping that a change of year will also bring about a change of fortune. The past year has been an especially challenging one. Expectations of a sustainable global economic...

Class counts, not funds.
December 2, 2002... Tom Baigrie What do IFAs who swear by active funds have in common with thosee who choose index trackers? Moreover, what do benchmarkers have in common with the buy-and-hold squad? We IFAs miss the main point. You know the one: it...

OFFSHORE FUNDS; TOP 10 OVER THREE YEARS.(Brief Article)
December 2, 2002... Top 10 funds by sector, figures up to 18 November 2002, sell to sell, gross income reinvested

Barclays sells debt arm; Bermuda-based Alcentra buys three collateralised debt obligation funds.
December 2, 2002... By James Mawson Barclays has sold its European collateralised debt obligation fund arm to Alcentra, the Bermuda-based leveraged debt asset management boutique. Alcentra bought Barclays Capital Asset Management (BCAM) from Barclays...

Getting around Isa regulations.(investment savings account)(Brief Article)
December 2, 2002... Although investors have been keen to invest in property, current Isa rules do not allow investment in property unit trusts. However, some fund providers are getting around the rules by operating the funds outside the UK. The new property...

Caution needed over property; Property and property funds are popular, but the boom may not last.
December 2, 2002... Shaista Ahmed As an asset class, property has significantly outperformed all others in the past three, five and nine years. Figures from the Investment Property Database show it outperformed equities, gilts and cash for these periods. ...

PENSION FUNDS; Top 10 PENSIONS OVER 10 years.(Brief Article)
December 2, 2002... Top 10 pension funds by sector, figures up to 25 November 2002, buy to sell, gross income reinvested

Pensions are vital leak; Green Paper expected to promote retirement planning as essential to industry.(Brief Article)
December 2, 2002... By Holly Thomas The long-awaited pensions green paper to be published in two weeks should boost pensions as "vital" to financial planning. The green paper, out on 17 December, will outline a series of reforms aimed at reducing the...

Merrill shuts two UK funds of funds.(Brief Article)
December 9, 2002... Merrill Lynch Investment Managers has closed two fund of funds. Both the Merrill Lynch Managed Growth fund and the Merrill Lynch Managed Income fund invested in MLIM funds. They were launched in the early 1990s and each had about GBP5m...

Rothschild two leave after fire sale buyout; Insights acquisition will lead to about 100 jobs being axed at fund manager.(Rothschilds European manager Gary Clarke and retail head Nick Hodgson)(Brief Article)
December 9, 2002... by Gabriela Pomeroy and Hayley Frain Rothschilds European manager Gary Clarke and retail head Nick Hodgson have left after Insights "bargain" acquisition of the firm. Mr Clarke has now re-surfaced at Gartmore. He will join the asset...

Aegon appoints European managers.(Alastair Duffy)(Brief Article)
December 9, 2002... by Gabriela Pomeroy and Simoney Girard Aegon plans to end instability on its UK desk by appointing two internal European fund managers. During the past year, three different managers have run the UK Tactical fund and UK Equity Growth...

Appointments.(Invesco Perpetual has announced the appointment of Julian Hopkin)
December 9, 2002... Invesco Perpetual has announced the appointment of Julian Hopkin as regional sales manager. Joining the UK sales team in January 2003, Mr Hopkin will cover the north of England, Scotland and Northern Ireland. He joins Invesco Perpetual from...

Diary.(Column)
December 9, 2002... Bite the head off a fund manager Fancy biting Margaret Barff, senior team co-ordinator of Isis Equity Partners? What about nibbling at fund accountant Neil Marais? Does the idea of eating Gareth Banks, venture capital trust fund...

Hamilton ups holding in life company bonds; Manager of Jupiter Corporate Bond fund eases risk-averse stance of past year.(John Hamilton, manager of Jupiters Corporate Bond fund)(Brief Article)
December 9, 2002... by Gabriela Pomeroy John Hamilton, manager of Jupiters Corporate Bond fund, increased his positions in life insurance bonds in the past two months. He said he "moved down in quality as spreads widened quite sharply" in October,...

Tradinglab increases its covered warrants range.(Brief Article)
December 9, 2002... Tradinglab has added 17 underlying securities to its covered warrants offerings. The investment banking arm of UniCredito Italiano has boosted its range of securities on the new covered warrants market to 29. The new warrantscover...

Nasdaq stocks to be offered through ETF.(exchange traded funds)(Brief Article)
December 9, 2002... HIGH-tech companies listed on the Nasdaq index are now available for exchange-traded fund investors in Europe and the UK. The Nasdaq-100 European Tracker ETF will offer investors access to companies such as Microsoft, Oracle and Dell, and...

Govett scraps US Index fund to rationalise product range; Investors offered chance to cash out or join better-performing Govett US Opportunities fund.(Govett Strategic Investment Trust PLC)
December 9, 2002... BY Ashutosh kumar Govett Investments has dissolved its fledgling US Index fund and moved investors into its flagship American fund Govett US Opportunities. The company gave investors an option to cash out of the GBP9m tracker fund if...

Hedge funds start to slide while fees go up for bosses.(Brief Article)
December 9, 2002... Hedge fund indices are scrabbling to remain in positive territory after a year of poor returns. The MSCI Hedge Fund Composite index (equal weighted) was marginally positive at 0.07 per cent for the end of October, bringing the average...

Fowler buys stocks with good dividends.(AXA UK Opportunities fund manager Stuart Fowler)(Brief Article)
December 9, 2002... AXA UK Opportunities fund manager Stuart Fowler has increased his holdings in British Land and Novar. Mr Fowler initially invested in these stocks at the end of November and now each stock represents a 2 per cent holding. At the end of last...

Rising university costs warning from Inscape.(Brief Article)
December 9, 2002... Inscape has said that a lump-sum of GBP19,000 investment is the minimum required to finance university education. According to research by Inscape, the wealth management arm of Abbey National, the alternative to a lump sum investment is...

Isis Smaller Markets fund moves away from mid-caps.(Brief Article)
December 9, 2002... THE Isis UK Smaller Markets fund has switched from mid-cap stocks and improved its ranking in the smaller companies sector. Chris St John, manager of the fund, said that in mid-January about 70 per cent of the fund was invested in FTSE 250...

BWD small-cap fund will stay below GBP20m; Firm will limit investment into fund to make managers best ideas count.(Brief Article)
December 9, 2002... by Ashutosh Kumar BWD Rensburg is to cap its new UK Micro-Cap Growth fund at GBP20m. No new money will be accepted into the fund when it reaches that limit. Since launch in October, the fund has generated an estimated GBP3.5m. The...

SRI standard to ensure funds really are ethical.(Socially responsible funds)(Brief Article)
December 9, 2002... A PAN-Europe accreditation standard for socially responsible investment funds aims to filter out "ethics-lite" fund managers. Pressure for such a standard has grown during the past year amid SRI industry concerns that new entrants to SRI...

Emerging markets added to portfolio.(Brief Article)
December 9, 2002... INVESTMENT manager Mellon has added a global emerging markets portfolio as a sub-fund to its Mellon Global Funds range. The Mellon Global Emerging Markets portfolio, managed by value specialist Boston Company Asset Management, hunts...

7IM wrap account will carry advisers names; Brokers will be able to offer wrap accounts under their own brand name.(Seven Investment Management to launch own brand wrap account in UK)
December 9, 2002... BY SAM DUNN SEVEN Investment Management is first to launch an own brand wrap account into the UK market. 7IM, a division of stockbroker Killik, said its new white label product allows stockbrokers and financial advisers to offer their...

Friends Prov adds pair of funds to Portfolio Bond.(Brief Article)
December 9, 2002... Friends Provident has added Isiss Monthly Distribution and High Yield Distribution funds to its Investment Portfolio Bond. The Monthly Distribution fund offers a low to medium-risk profile, with investments spread across higher-yield...

Stewart takes over top job at Britannic.(Britannic Asset Management has appointed Gavin Stewart)(Brief Article)
December 9, 2002... Britannic Asset Management has appointed Gavin Stewart to the post of chief operating officer. Previously a group development director at Aegon UK, Mr Stewart will join the company in January 2003. He will report to Leslie McIntosh, chief...

Artemis Dodd buys EFM and Aberdeen; Respected manager sees inherent strength in the troubled investment companies.(John Dodd, manager of the GBP206m Artemis Smaller Companies fund)(Brief Article)
December 9, 2002... By Ashutosh Kumar John Dodd, manager of the GBP206m Artemis Smaller Companies fund, has bought holdings in troubled Aberdeen and Edinburgh Fund Managers. Mr Dodd, who bought the two stakes in October, has 1.5 per cent of his fund in...

Smiles in US as Dow rises in time for Christmas.(Brief Article)
December 9, 2002... The US is on course for a merry Christmas, following an eight-week gain on the Dow Jones. By the end of November, the Dow Jones Industrial Average posted a 5.39 per cent return, closing at 8849.40. This is the first two-month successive...

New faces on AITC excutive committee.(Association of Investment Trust Companies; George Kershaw)(Brief Article)
December 9, 2002... GEORGE Kershaw, author of a recent investment trust corporate governance report, is one of four new members on the AITC executive committee. Mr Kershaw won his place, voted for by members of the Association of Investment Trust Companies,...