Investment Adviser articles from February 2003

Investment Adviser archives from February 2003

Invesco Isas lose cash-holding ability.(Brief Article)
February 3, 2003... By Simoney Girard Isa and Pep investors with Invesco Perpetual have lost the ability to remain in cash. The manager is moving its unit trust range to a global fund administration system, converting its unit trust range to investment...

Terror fears spark spat over tips for hotels.(Brief Article)
February 3, 2003... Jones Lang Lasalle is advocating hotels as a mainstream property class, despite other managers expressing concern over the leisure sector. In its latest topics report, Arthur de Haast, chief executive for Jones Lang Lasalle Hotels, said...

Isosceles US fund to use performance charging; America Fund to charge 1.25 per cent plus 15 per cent for outperformance.
February 3, 2003... By Ashutosh Kumar Isosceles Asset Management is planning a performance-related charging structure on its proposed US fund. The Isosceles America fund, to be launched on 3 March, will charge a 1.25 per cent annual management fee plus a...

Diary.(market forecast)(Brief Article)
February 3, 2003... Just 8 per cent of fund managers believe 2003 is going to be another gloomy year for the markets, according to the latest Merrill Lynch survey of 300 money managers controlling more than GBP500bn of assets. These guys obviously subscribe...

War divides US funds on defence stock issue; Govetts Knight ups his defence stocks, but Aegons Crichton says it is too late.(Brief Article)
February 3, 2003... By Gabriela Pomeroy Gil Knight, manager of the Govett US Opportunities fund, has increased his exposure to defence stocks in anticipation of war with Iraq. The Govett fund already owns United Technologies and CACI International which...

Parents warned over rising university fees.(Brief Article)
February 3, 2003... Parents could face a bill of at least GBP31,000 to send a child to university, according to Gill Cardy, principal of IFA Professional Partnerships. Ms Cardy has warned that parents will be forced into serious financial planning and will...

Charter outlines service standards.(Brief Article)
February 3, 2003... Canada Life has launched a service charter for its Select Investment bond. The charter said if levels of service fell below set standards for the bond, Canada Life would compensate the IFA and/or the client directly with a cash payment....

London property levels wilt as Europes bloom; Leasing activity in the City drops to a 10 year low, says Jones Lang Lasalle.(Brief Article)
February 3, 2003... BY SIMONEY GIRARD The allure of UK property investment has dimmed over the past month, according to Jones Lang Lasalle. The property services and investment management firm revealed leasing activity was at its worst levels for 10 years...

Economic climate could aid portfolio, says Cholwill.(Brief Article)
February 3, 2003... Martin Cholwill, Axa Equity Income fund manager, has said his sector could be one of the best performing this year. This was because income stocks could be the best positioned for the current economic climate, he added. Mr Cholwill...

Property info goes online for investment.(Brief Article)
February 3, 2003... Property analysts and investment advisers interested in cross-border residential investment can now access data online to help in their search. The Investment Property Databank and Experian Business Strategies have launched a property...

F&C managers accept equity deal; One hundred executives will trade a 10th of their salary for equities under the new arrangement.(Foreign & Colonial)(Brief Article)
February 3, 2003... BY SAM DUNN COST-CUTTING has forced Foreign & Colonial fund managers to trade a 10th of their salary for equity. About 100 top executives at the investment house, including head of investment trusts Jeremy Tigue and Robert Jenkins,...

Portfolio changes for Orient fund.(Brief Article)
February 3, 2003... The Credit Suisse Orient fund has been repositioned. This has led to a change in country and stock positions. Peter Sartori, manager of the GBP15m fund, said the repositioning of the portfolio was meant to "take advantage of growth...

Insight promises a fund range increase.(Brief Article)
February 3, 2003... Insight Investments is looking to launch specialist and offshore funds by the end of 2003. Following a raft of senior appointments across the equity, retail sales and fixed income teams last week, the new asset manager is ramping up its...

Investors place faith in property.(Brief Article)
February 3, 2003... The Association of Investment Trust Companies has found 52 per cent of private investors thought property would outperform equities during 2003. This lack of confidence in equities has made property the private investors choice of...

Thames River hires staff as it prepares for fund launches; Company takes on five managers and analysts to boost its existing emerging European team.
February 3, 2003... By Sam Dunn THAMES River Capital is to launch a brace of global emerging market hedge funds. The new funds, one long/ short and the other long-only, will run on a best ideas strategy from Asia, Latin America and emerging Europe, with...

Scottish Widow secures S&P A rating for its Strategic fund.(Scottish Widows Investment Partnership)(Brief Article)
February 3, 2003... BY GABRIELA POMEROY SWIP has won an A rating from Standard & Poors for its Strategic Income fund despite IFAs remaining unconvinced about performance. Over one year, the GBP145m fund grew by 1.48 per cent (offer to bid), compared with...

Axa boosts alternative investments.(Brief Article)
February 3, 2003... AXA is to devote greater resources to alternative investments as it banishes prospects of bullish equities in the future. The investment arms of the French insurer stand firmly behind hedge funds as a principal driver of future growth. ...

Gem joins the hedge fund line up for FP&P.(Brief Article)
February 3, 2003... Fabien Pictet & Partners has launched an emerging markets bond hedge fund for fund of funds and small pension schemes. Called the Global Emerging Markets bond fund (Gems), it is the latest in a raft of fixed income hedge funds from the...

Managers remain confident on Russia.(Brief Article)
February 3, 2003... Funds with hefty holdings in Russia will not suffer from a fall in oil prices, according to JPMF manager Mark Robinson. The manager of the JPMorgan Fleming Russian Securities fund said: "While the Russian economy does remain heavily...

Eastern Europe frenzy unlikely, warns Baring; John-Paul Smith says region wont see a pre-EU convergence speculative frenzy.
February 3, 2003... By Gabriela POMEROY Eastern European funds may not benefit from the same pre-EU convergence frenzy that gripped other pre-convergence stock markets. John-Paul Smith, manager of the Baring Eastern European trust, has warned that the...

Funds win out over direct equity.(Datamonitor forecast)(Brief Article)
February 3, 2003... Market research specialist Datamonitor has said households in Europe are expected to increase their investments in equities through mutual funds. This investment increase through funds was instead of direct equity investment, Datamonitor...

Rathbones optimistic for next 12 months; Income & Growth at stocks that will benefit from government spending.(Brief Article)
February 3, 2003... By Cassie Zachariou RATHBONE has an optimistic market outlook for 2003 and favours stocks that will benefit from an expected increase in government spending. Julian Chillingworth, chief investment officer at Rathbone, said: "We are...

Hewitt creates regulator to prevent another Enron.(Patricia Hewitt)(Brief Article)
February 3, 2003... An independent regulator responsible for setting accounting and auditing standards will be created to protect against business malpractice. This comes as part of the measures announced last week by Patricia Hewitt, trade and industry...

Hedge funds increase while markets tumble; Safe haven hedge funds returned, on average, 3.73 per cent over the past year.
February 3, 2003... BY SAM DUNN THE value of hedge funds as a safe haven for investors in falling markets has been cemented by new figures. MSCIs Hedge Fund Composite index has revealed that the average hedge fund returned 3.73 per cent in 2002. It...

IMA finds aligning problems in system.(Investment Management Association )(Brief Article)
February 3, 2003... The Investment Management Association is experiencing a few glitches in its sector classification programme. According to Dorian Carrell, head of statistics for the IMA, there are technical difficulties in aligning data analyst Lippers...

IMA figures show fall in sales of GBP1.5bn for year; Gross Isa sales for last year show a drop to GBP6.5bn from GBP8bn in 2001.(Investment Management Association )
February 3, 2003... By Simoney Girard The Isa season is under way although nobody would know it, if statistics from the Investment Management Association are any indication. Figures for Isa and Pep sales and repurchases at the end of 2002 showed a marked...

FTSE Isa aimed at student debt.(Homeowners Investment Fund Managers)(Brief Article)
February 3, 2003... Homeowners Investment Fund Managers is promoting its Education Isa. The company, a subsidiary of the Homeowners Friendly Society, said the Isa was aimed at encouraging parents to save for their childrens further/higher education while the...

DWS pushes property in IFA presentations; Latest roadshow from the company focuses on surviving in a difficult Isa season.(DWS Investments)
February 3, 2003... BY SIMONEY GIRARD DWS Investments is the latest manager to entice advisers towards property as an option for the Isa season. Following an announcement by Norwich Union that its Property Isa would be one of three key funds promoted this...

Gifford cuts Oeic charge to 4 per cent.(Baillie Gifford, sub-funds)(Brief Article)
February 3, 2003... Baillie Gifford has reduced initial charges on all Oeic sub-funds. The existing charge, which will drop by 1 percentage point to 4 per cent, will run from to 30 April. It will be available to lump-sum investors taking out Isas, transfering...

Managers confident despite gloomy data; Managers believe European stock markets could yield returns of 15 per cent.(Mercer Investment Consulting report)
February 3, 2003... BY SAM DUNN UPBEAT fund manager confidence on European equities contradicts gloomy statistics, a survey has found. According to Mercer Investment Consulting, managers believe European stock markets are likely to yield average returns...

Close turns to Vontobel for North American fund.(Close Finsbury, Vontobel Asset Management)(Brief Article)
February 3, 2003... Close Finsbury has hired New York-based fund manager Vontobel Asset Management to run its North American Equity fund. The GBP3.3m Dublin-based Oeic will be managed by Ed Walczak, senior vice-president at Vontobel. He has been at Vontobel...

Insight queries BATs Burma operations.(Insight Investment, British American Tobacco)(Brief Article)
February 3, 2003... By Simoney Girard Insight Investment is putting pressure on British American Tobacco over its operations in Burma. Across its entire fund range, Insight has a 1.5 per cent stake in BAT. However, the fund house said there would have to...

Good yields from Cautious model; Equities return 6.5% and bonds yield 6.5% in trial.(Brief Article)
February 3, 2003... BY ASHUTOSH KUMAR The model portfolio of Chris Burvills Gartmore Cautious Managed fund is running a 5.5 per cent yield. The fund, whose portfolio is split between equities (60 per cent) and bonds (40 per cent), was launched on 31...

UK equity income funds are best investment, says CSAM.(Credit Suisse Asset Management)(Brief Article)
February 3, 2003... CSAM has said at present, UK equity income funds will be the best investment "for the foreseeable future". Credit Suisse Asset Managements rationale is based on anaemic UK growth and unimpressive corporate profits and earnings per share,...

Mixed reactions to Bush's fuel cell move.(George W. Bush)(Brief Article)
February 3, 2003... UK fund managers have expressed mixed reactions to President Bushs state of the union address on fuel cell technology. The address called for GBP730m in funding for developing alternative oil replacements such as fuel cell technology. Fund...

Large cap funds suffer most from FTSE drop; BT, Vodafone and Tesco were among the worst hit stocks in 12-day slump.
February 3, 2003... By GABRIELA pomeroy As the FTSE fell until Wednesday for 12 consecutive days last week, the winners were funds with little large cap exposure. BT, Royal & SunAlliance, Vodafone, Tesco and Abbey National were among the stocks that were...

Investors are still out there, says IMA boss.(Investment Management Association, Richard Saunders)(Brief Article)
February 3, 2003... Pessimism may be the markets enemy, but investors are still trickling in, according to the Investment Management Association. Despite a slowdown in the amount of funds sold since 2001, the IMA believes the market is at the beginning of the...

Managers stick to stock to stop panic.(fund managers)(Brief Article)
February 3, 2003... UK fund managers held on tight during the white-knuckle stock market ride of the past fortnight. Managers might once have reacted to such turmoil created by mass outflows of equities by large institutions and growing geopolitical unrest by...

Analysts forecast more gloom ahead for markets.(Brief Article)
February 3, 2003... By Simoney Girard Market commentators are predicting further falls as mass withdrawals from the equity markets dragged the FTSE 100 to new lows. By midday on Tuesday, the FTSE 100 had fallen below the 3500 barrier and further gloom was...

Fears grow over herd instinct.(commentators on market slide)(Brief Article)
February 3, 2003... Economists have railed against commentators whose gloomy prophecies helped to foster fears over the recent market slide. Jim Wood-Smith, chief analyst at Gerrard Securities, said the market was caught up in a "very black mood" and it was...

Jupiter places fifth of assets in in-house funds; Chatfeild-Roberts invests GBP42m out of GBP225m in Jupiter funds a total of 18.6%.
February 3, 2003... By Gabriela Pomeroy Jupiters fund of funds portfolios have invested nearly a fifth of assets in in-house funds. John Chatfeild-Roberts, manager of the Jupiter portfolios, said GBP42m of the total GBP225m held in multi-managers were...

Chatfeild- Roberts ditches gilt.(John Chatfeild-Roberts, Scottish Widows fund)(Brief Article)
February 3, 2003... John Chatfeild-Roberts has ditched the 11 per cent weighting in the Scottish Widows gilt tracker. The fund has been replaced in the Merlin Growth portfolio by the Merrill Lynch UK Dynamic fund run by Steve Thompson. Mr...

Ehrmann replaces Gadow as China fund manager.(Philip Ehrmann, Margaret Gadow)(Brief Article)
February 3, 2003... By ashutosh kumar Margaret Gadow, manager of Gartmore China Growth fund, has left the company. Ms Gadow, according to Gartmore, is not joining a rival fund management company. Philip Ehrmann, head of Pacific and emerging markets at...

Catalyst's cash goes to bangers and mash.(Brief Article)
February 3, 2003... BANGERS and mash and teeth whitening have provided the latest investment opportunities for Catalyst, the enterprise investment scheme investment manager. It has ploughed more than GBP2m into four companies in the healthcare and leisure...

US bear fund tops unit trust league; The succes of Govetts US Bear fund has been put down to taking out derivative contracts to sell the S&P index.
February 3, 2003... By Dan Bloch Classic defensive plays have won out over all periods since markets fell, according to S&P data. This was true for individual funds and sectors (see below). The Govett US Bear fund was last weeks top performer in Standard...

Bonds benefit from persistent bear market.(Brief Article)
February 3, 2003... The long bear market in equities has meant that the strongest-performing sectors have consistently been bonds and gilts. According to research from S&P, gilts and bonds have been in the top five performing sectors in the week to 24 January,...

Royal London set to revamp range; Mid and small cap funds are designed to plug the gap in the company's range.(Brief Article)
February 3, 2003... By ashutosh kumar Royal London Asset Management is considering launching mid, small cap and specialist funds. The proposed small and mid cap funds will invest in UK and US equities. The new funds, according to David Hughson, head of...

Three bond funds suck up GBP31m in January.(Brief Article)
February 3, 2003... Threadneedle Investments three bond funds took GBP31m out of the GBP50m inflow during January. A majority of the GBP31m (institutional share class GBP16m and retail share class GBP15m) went into the AAA-rated, GBP534m Threadneedle...

Britannic focuses on UK.(Brief Article)
February 3, 2003... By Dan Bloch Britannic Asset Management has released more details of its UK Focus fund, due to be marketed soon. The fund, available to investors on 1 July, is to be marketed in spring or summer, once it has established performance...

Dividends bear up despite volatility; Funds in the sector should still perform well despite companies paying off debt, writes Helen Delaney.
February 3, 2003... The FTSE 100 has endured a highly volatile two weeks, reacting to fears that military action in Iraq is imminent. The FTSE 100 index hit a seven-year low on 27 January, losing 123 points, to finish at 3480. It had fallen as low as 3460 earlier...

Popular, but little growth.(equity markets)
February 3, 2003... The continuing erosion of the equity markets over the past 18 months has hit the performance of the UK Equity Income sector. The sector fell 19.32 per cent over the 12 months to 2 December 2002 (offer to bid, net income reinvested, UK...

Liontrust First Income fund: Sector sees sharp falls in the past half year.
February 3, 2003... The UK Equity Income sector has, like the rest of the market, had a turbulent time over the past 12 months. In this period, none of the 65 funds monitored by Standard & Poors managed to make any inroads into positive territory. The falls have...

Liontrust First Income fund: Manager Comment; JEREMY LANG.
February 3, 2003... I have a deputy fund manager, William Pattisson, and three others that work alongside myself. The fund aims to exploit overreaction in the gilt market. It manifests itself in the share price and consequently with rising yields. The fund looks...

Tough year forecast for equity prospects.
February 3, 2003... Helen Delaney The UK is experiencing a prolonged period of economic slowdown. House prices are forecasted to fall, with consumer spending on the decline, not to mention the growing likelihood of a war with Iraq. So 2003 is likely to be yet...

DEWHIRSTS VIEW: The old uns are the best uns; Nick Dewhirst.(Column)
February 3, 2003... Equity income funds are now the most attractive liquid investment available for those who need income. Cash yields 3.4 per cent at Libor rates, gilts yield a bit more at 4.2 per cent at the long end of the market, but the FTSE High Yield index...

FT fund ratings: Equity income sector.(Investment Advisers Fund Ratings; table introduction)(Brief Article)
February 3, 2003... 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...

Fidelitys Global is a job for the specialists; Fund will focus mainly on mid to large caps, but will remain style neutral.
February 3, 2003... Shaista Ahmed Fidelity Investments Global fund, which was launched on 14 January, and aims to achieve absolute returns with its specialist stock picking approach. Adam Smears, senior fund analyst at Fidelity Investments, said the fund...

2002/2003 calendar.(Calendar)
February 3, 2003... December/January Funds launched Dexion Absolute Dealings in the ordinary shares of Dexion Absolute, a new fund of hedge funds, commenced on the London Stock Exchange (19 December). Thames River Capital Thames River...

A year ago this month: Global Theme fund bullish after defensive 12 months.(Morley Global Theme fund)(Brief Article)
February 3, 2003... The GBP17m Morley Global Theme fund, managed by Michael Jennings, was launched on 11 February last year. It is a focused fund with a maximum of 60 stocks at any one time. Mr Jennings, formerly manager at Sarasin, said the fund, which...

Waking up to a groundhog year.(United States stock market)(Column)
February 3, 2003... Ayse Ferliel Last year marked the first time in decades that the US stock market had logged three losing years in a row. Yet, several analysts, fund management houses, economists and investors appeared to start 2003 with similar hopes to...

Hunting high and low; Declining share prices may favour high yielding equities, but will investors take the risk?
February 3, 2003... Richard Hughes Few equity investors have emerged unscathed from the turbulence of the past three years. Since peaking at 6930 on New Years Eve 1999, the FTSE 100 Index has suffered a decline of about 50 per cent, with many sectors faring...

Biting the equities bullet; UK equities are now looking very cheap and income rates from them are looking favourable against bonds.
February 3, 2003... John Cornes Investors should never forget the higher the income return, the higher the risk. At the beginning of last year British Energy shares stood at 50p yielding 16 per cent and anyone who invested in the hope of getting their money...

Government bonds begin to run out of steam; The success story of government bonds may be over, but the demand for high quality bonds looks set to remain.
February 3, 2003... BENJAMIN WALKER The past three years have been a torrid time for many investors, with most of the major equity indices delivering negative returns. The story has been somewhat different for investors in government bonds, particularly gilts...

The need for balance in a portfolio; In spite of the falling equity markets, the past three years have witnessed a well-diversified portfolio could have actually accrued money.
February 3, 2003... JAMES DALBY When building an income portfolio, IFAs need to implement a well thought out strategy. With the current low level of interest rates the thirst for income is ever present and there are an increasing number of income solutions at...

Hubble, bubble, toil and trouble; The concern that a bond bubble is inflating has led some to consider whether some allocation into high yield bonds can mitigate the problem for investors.
February 3, 2003... Joanna Howley After three years of negative equity market performance and the resulting popularity of bonds, only time can tell if this trend is to be reversed in 2003. Talk of the so-called bond bubble bursting this year is leading...

Not waving, but drowning; Mountains of paper are piling up on pensions, but there are no guarantees new proposals will get more people to save.
February 3, 2003... Mike Morrison The long awaited Green Paper from the Department for Work and Pensions was finally presented on 17 December. Entitled Simplicity, security and choice: working and saving for retirement, this tome of government intelligence is...

Insights Pegrum has a knack for finding undervalued stocks; Manager hoping to replicate success at M&G for his new employer.(Neil Pegrum)
February 3, 2003... Mark Dampier, Head of Research, Hargreaves Lansdown If you dont know who Insight is by now you must have been on Mars, as it has become impossible not to see its adverts in all the trade and national papers.Insight has spent some time...

Opportunity knocks for the bold investors; World markets have fallen so far that equity valuations are looking attractive.
February 3, 2003... Philip Coggan, Investment Editor, Financial Times There is a whiff of panic in the air. As I write, the FTSE 100 index has fallen for 10 sessions in a row and markets in the US, UK, France and Germany have all given up their New Year gains....

The future is not ours to see.(investment industry forecast)
February 3, 2003... For the markets, at least, the problem is not so much war, but uncertainty over war. Trawling through indices historically, a pattern emerges where markets drop before a conflict but head northwards upon the first shot being fired, and recover...

Bespoke advice is the key to success; Advisers will need to demonstrate knowledge and expertise to survive 2003.
February 3, 2003... John Porteous Advisers across the country are likely to be reviewing their clients portfolios and considering what action, if any, to take in the current stock market climate. This is a challenging prospect when one considers an...

Letters.
February 3, 2003... Questions raised over methodology I was interested to see the Top 50 investment advisers survey in 20 Januarys IA, and upon examination was a little bemused at a couple of things, not least the exclusion of Torquil Clark. To produce a...

Standing out from the rest with the tortoise strategy; Helen Delaney talks to Theo Zemek, manager of New Stars Managed Distribution fund, about life after M&G and the benefits of the tortoise strategy.
February 3, 2003... Investment Adviser: How do you see your role at New Star compared with your role at M&G as manager of the M&G Corporate Bond fund and High Yield fund? Theo Zemek: My role at M&G changed considerably after the take-over by the Prudential. I...

Industry calls for a spoonful of sugar; IFAs believe tax breaks will help SRIs to become more appetising to investors.
February 3, 2003... SHAISTA AHMED Investment with a conscience is quite likely the least of most investors worries, considering a large proportion have seen their investments tumble over the past three years. The increased risk aversion among investors...

SRIs suffer at the paws of the bear.(investment funds)(Brief Article)
February 3, 2003... Friends Provident launched the first ethical fund in 1984. It has since ballooned into a GBP3.8bn industry with an estimated 62 ethical funds serving about 470,000 investors, according to the Ethical Investment Research Service. However,...

FSA adds to budget in the face of rising legislation.(Brief Article)
February 3, 2003... The FSA is increasing its resources partly to deal with the flood of legislation affecting offshore funds from the EU. The FSAs plan and budget for 2003-04 has made provision for an increase in expenditure next year of 3.1 per cent to...

Prudence goes offshore; International Prudence Bond is tax-efficient version of Prudence Portfolio bond.(Brief Article)
February 3, 2003... BY SIMONEY GIRARD Prudential has launched a tax-efficient offshore version of its popular Prudence Portfolio bond. Called the International Prudence Bond, it offers greater protection to investors through capital redemption, as well as...

OFFSHORE FUNDS; TOP 10 OVER THREE YEARS.(Brief Article)
February 3, 2003... Top 10 funds by sector, figures up to 20 January 2003, sell to sell, gross income reinvested

With profits fears grow; FTSEs plummet last week to below 3500 pushes life offices towards insolvency.(Brief Article)
February 3, 2003... By Holly Thomas With profits investment is under threat as life offices edged towards insolvency, following the FTSE 100s plunge below 3500. Three weeks ago, Sir Howard Davies, chairman of the FSA, said companies would be able to...

Retail investors stick with corporate bonds.(Brief Article)
February 3, 2003... Corporate bonds are still favoured by retail investors and small pension schemes as equity markets continue to tumble. Figures released from the Investment Management Association revealed 25 per cent of December 2002s retail unit trust...

PENSION FUNDS; Top 10 PENSIONS OVER 10 years.(Brief Article)
February 3, 2003... Top 10 pension funds by sector, figures up to 27 January 2003, buy to sell, gross income reinvested

Quick pay out unlikely in wake of splits fiasco.(Brief Article)
February 10, 2003... PLANS for swift splits compensation to retail savers could be scuppered by insurers reluctance to pay out, it has emerged. Splits firms professional indemnity insurers were likely to put up "stiff opposition" according to insurance law firm...

Breedon brought in to boost Investec team; Timely move for South African asset manager as emerging markets tipped.
February 10, 2003... by Simoney Girard Investec Asset Management has expanded its emerging markets management capability with a senior appointment. The South African-owned asset house, which has made its name with its UK equity, balanced products and UK...

Sway ditches property fund launch.(Brief Article)
February 10, 2003... By Ashutosh Kumar Sway Consulting has ditched its plan to launch one of the UKs first residential property funds. The company said it could not secure commitment for the seed money needed to launch the fund. FSA regulations require new...

Appointments.
February 10, 2003... SEI Investments has promoted Teresa Smith to business development director on its wealth team. Ms Smith will be responsible for extending and developing SEIs existing adviser partnerships as well as taking the brand out to new adviser contacts....