Investment Adviser articles from January 2008

Investment Adviser archives from January 2008

LV= launches 12-fund blitz on retail market.
January 7, 2008... Byline: Products to be available through several distribution channels in a range of tax wrappers LV= Asset Management is to blitz the retail markets with the launch of 12 open-ended funds this year. Four fixed interest vehicles, four...

Japan equities to rally.
January 7, 2008... Byline: S&P Fund Services survey highlights strong belief in attractiveness of Japanese equities Japanese equities could be set for a significant rally, according to the latest sector update from Standard & Poor's Fund Services. Lead...

Blue Sky adds structured product to its arsenal.
January 7, 2008... Blue Sky Asset Management has released its inaugural structured product, which offers 10 per cent yearly income and 100 per cent capital protection over a six-year term. The Protected Income plan is available until 8 February, and will be...

Gartmore managers plan to train eyes on UK property.
January 7, 2008... Managers at Gartmore Investment could bring UK property back to its AGBP376.8m Balanced and AGBP75m Cautious multi-manager funds this year. The Balanced fund holds roughly 2 per cent in the asset class, while the Cautious fund holds just...

Norwich Union opts to value funds fortnightly.
January 7, 2008... Norwich Union has switched from monthly to fortnightly valuations for two of its property funds, as outflows from the asset class industry-wide continue to snowball. Both Norwich Union's AGBP3.6bn Property Trust and its AGBP397m Property...

Gledhill sole head of New Star fixed income.
January 7, 2008... Byline: Company decides against replacing co-head Theodora Zemek after departure for Axa James Gledhill has taken over as the sole head of New Star Asset Management's fixed income division following the departure of Theodora Zemek to Axa...

Santander launches multi-manager fund.
January 7, 2008... Santander Asset Management has kicked off the new year with the launch of a developing economies multi-manager fund. Santander Emerging Markets will sit in the firm's new Global Equity Growth portfolio, and will predominantly invest in...

Fidelity Special Value ups its exposure to financials.
January 7, 2008... The AGBP392m Fidelity Special Value investment trust has significantly increased its exposure to financials, after underperforming its benchmark for 2007. Fund manager Anthony Bolton increased his financial holdings in the four months to...

CFA Institute calls for single hedge standard.
January 7, 2008... Byline: CFA says current, competing standards do not provide enough consumer protection The CFA Institute Centre for Financial Market Integrity has called for the introduction of a single global hedge fund standard with a greater focus on...

Distressed assets have silver lining.
January 7, 2008... Hedge funds could capitalise on investing in distressed assets, despite November being the "bloodiest" month for the vehicles, according to F&C. Francois Barthelemy, head of the F&C Balanced Alpha Fund of Hedge Funds, said the sub-prime...

New Pimco closed-end fund aims to raise AGBP198m capital.
January 7, 2008... US fund manager Pimco is hoping to raise AGBP198m in the launch of a closed-end fund that invests in mortgage-backed securities. The Pimco Income Opportunity fund is expected to list 16m shares on the New York Stock Exchange, at...

IFAs slam poor Reits performance.
January 7, 2008... The performance of real estate investment trusts has been blasted by IFAs, as the vehicles celebrate their first year anniversary. The trusts, which have seen their share prices plummet 37 per cent on average since last January, have failed...

S&P warns of falling returns from Europe.
January 7, 2008... Byline: Research group says large proportion of banks' credit-related losses still undisclosed European equity markets are expected to generate negative or single-digit returns in 2008, as they suffer a slight slowdown, Standard & Poor's...

Wins predicts tough year to raise capital.
January 7, 2008... Byline: Widening discounts and market volatility will mean fewer launches or issuances This year is likely to be far tougher for mainstream investment companies seeking to list or raise new capital, according to Winterflood Securities. ...

Arbuthnot forsees growth due to infrastructure needs.
January 7, 2008... Emerging markets' need for better infrastructure will offer investors attractive growth prospects in 2008, according to analyst firm Arbuthnot Securities. Rupert Stevenson, head of closed-end funds at Arbuthnot Securities, oversaw last...

AIC thumbs up for more flexible rules.
January 7, 2008... Investment companies will become more commercially attractive and flexible thanks to new FSA rules, the Association of Investment Companies has said. Daniel Godfrey, director general of AIC, welcomed the FSA's final listing rules for...

Multi-managers need to get tactical in 2008: Potter.
January 7, 2008... Byline: Thames River co-head of multi-manager claims first six months will be difficult before mid-year turnaround The ability to make quick tactical asset allocation calls will separate the multi-manager winners from the losers in 2008,...

Miton sees long-term potential in property investment trusts.
January 7, 2008... Property investment trusts could prove an attractive long-term bet for multi-managers in the near future, according to Miton Asset Management. Steve Brann, manager of the AGBP41m Arcturus fund, said the level of discounts property trusts...

Midas tips use of structured products to tackle headwinds.
January 7, 2008... Midas Capital is touting structured product exposure as an intelligent multi-manager strategy for the first half of 2008. Alan Borrows, chief investment director at the Liverpool-based boutique, said the team was battening down the hatches...

Newbies face tough times.
January 7, 2008... New entrants to the multi-manager arena will find the going tough in 2008, according to T Bailey. Jason Britton, fund manager at T Bailey, said unpredictable markets and shaky investor confidence meant fledgling groups and freshly launched...

Fidelity warns over retail equity exodus.
January 7, 2008... Byline: Head of IFA channel fears long-term implications of moving money from equities to cash The mass exodus of retail investors from equity sectors in November could have worrying implications, Fidelity International has warned. IMA...

JPMAM rollover set to go.
January 7, 2008... JPMorgan Asset Management is readying a closed-end UK Equity fund that will serve as a rollover vehicle for investors in the company's AGBP187m Fleming Income and Capital trust. Like the Fleming fund, which will be wound-up at the end of...

Panic hits City jobs market.
January 7, 2008... The fund management industry could shed up to 10 per cent of its workforce as the UK job market faces its worst year for a decade, a leading industry figure has warned. Justin Urquhart Stewart, director of Seven Investment Management,...

Martin Currie appoints Chidambaram.
January 7, 2008... Martin Currie Investment Management has brought in a new European equity specialist for its AGBP200m Pan-European Opportunities fund. Palaniappan Chidambaram joins from Rabobank in London, and will work alongside lead manager Eric Woehrling...

Diary falls off detox wagon at Pink Floyd beach party...rats!!
January 7, 2008... When times are good, people drink, smoke and gamble. What do they do when times are bad? Drink, smoke and gamble, of course. The US-based Vice fund, which invests only in tobacco, alcohol, gambling and defence, has done an excellent job of...

There's definitely life after 60.
January 7, 2008... For those of you who still remember the former Liberal Democrat leader Sir Menzies Campbell, you will be interested to hear he has a new job. The former Olympic sprinter, who was an MP for 20 years, has been appointed director of the Scottish...

Time to break out the board shorts.
January 7, 2008... Schroders displayed few scruples about plying journalists with booze as it trumpeted its upcoming beach party, dubbed Retox 08. That's correct readers - Schroders is holding a beach party in January. As if the title wasn't enough of a hint, the...

We don't need no education.
January 7, 2008... Diary was pleased to learn that under even the sharpest suit and best kept hair is the burning passion of a teenage rebel. During a morning meeting with a top JPMorgan economist, the conversation moved on to a topic discussed on the previous...

Get in the Chinese rat race.
January 7, 2008... There seems to be no shortage of economists predicting Russia will have an outstanding year in 2008, but few could have predicted the region's current commodity of choice - the common rat. Russian pet shops are reporting a shortage of domestic...

Gadget: Review - The perfect extreme companion.
January 7, 2008... Remember when you were young, you'd learnt to ride your bike with sufficient skill to let go of the handlebars and let out the proud cry of "look mum, no hands" as you whizzed by? Chances are you've moved on to more extreme sports and need...

Andy Creak.(Company overview)
January 7, 2008... Since it was founded in 2001, UK wrapper platform Cofunds has been grabbing an ever greater share of the UK platform market. On 30 June 2007, Cofunds announced it was the second largest provider with 19 per cent of an estimated AGBP70bn...

Plenty of reasons to be cheerful in future.
January 7, 2008... Byline: History suggests the next 20 years could turn out rather well for the global economy Some people accuse me of being too pessimistic so I wanted to start 2008 with a suggestion of why things might work out rather well for the global...

Will creative bankers avert the crisis?
January 7, 2008... Byline: The financial crisis of 2007 forced even the most conservative of people to improvise The financial crisis of 2007 brought out the creative side of the world's central bankers. Finding traditional instruments wanting, they spent...

SGAM to revamp Pacific fund.
January 7, 2008... Byline: Plans to expand investment remit to India and Indonesia following impressive performance by manager Shaun Giacomo Societe Generale Asset Management is to revamp its AGBP32.6m SG Pacific fund, expanding the investment remit to...

Foot in mouth.
January 7, 2008... Byline: A slowdown may well be about to hit the UK, but all the evidence suggests a soft landing "We are all wrong so often it amazes me we can have any conviction at all over the direction of things to come. But we must." So said hedge...

2008 need not be tough time to invest.
January 7, 2008... Byline: Although uncertainty is on the cards this year, the stock-picking options still look good Investors heading into 2007 may have thought they knew what the year had in store for them, but as it turned out of course, they did not....

Walking on eggshells.
January 7, 2008... Byline: After a difficult year, many advisers are restructuring portfolios, but 2008 is set to be just as challenging Last year was challenging for everyone involved in the investment management industry and 2008 is unlikely to be any...

Prepare to enter a market minefield.
January 7, 2008... Byline: Last year's turmoil has shocked even the hardiest investors and 2008 will be just as dangerous Overall, 2007 will be remembered as a watershed in investors' perceptions of risk and views of the world at large. This time last year,...

Lessons learned in 2007.
January 7, 2008... Byline: The last year has taught property investors the value of portfolio diversity and the limitations of Reits Looking back on the commercial property market during 2007, a number of developments were predictable, but equally a number...

Catch Japan on the latest upswing.
January 7, 2008... Byline: While the Japanese market is unlikely to return to its 1980s highs any time soon, it is worth a closer look In the 1980s Japan was in the ascendancy. Its economic model of a government working with industry to promote economic...

Heading to market in Europe.
January 7, 2008... Byline: The European high yield universe is often ignored, despite its advantages over the UK market The universe of European stocks paying high dividends is an area of the market often neglected by equity funds. Investors looking for yield...

Getting the facts on fund management.
January 7, 2008... Byline: The model offers a more comprehensive review of the factors driving fund performance Private investors are likely to have had one of two reactions to the recent market turmoil - either significant disquiet about how their fund...

Sub-prime crisis is a time for reflection.
January 7, 2008... Byline: Now is the right time for a rigorous review of funding and investments What does the sub-prime lending storm mean for venture capital and private equity funders and the companies they invest in? Are we are headed for a global...

Is the IMA barking up the wrong tree?
January 7, 2008... Byline: The sector's new classification may fail to ensure funds are cautious and exclude the ones that are The IMA has recently tightened the qualification requirements for funds within the IMA Cautious Managed sector. Bearing in mind the...

Tenet Group to unveil range of fund of funds.
January 7, 2008... Byline: Specialist branch Sinfonia to join BNP Paribas, which will take care of admin side Independent IFA service provider The Tenet Group is preparing to launch six fund of funds this spring under its recently-founded specialist arm...

Bleak expectations of industry figures.
January 7, 2008... Byline: Talking heads foresee doom and gloom, but diversification will be key As could have been expected, the first week of 2008 has seen a plethora of predictions from industry figures. Unperturbed by the fact that the majority of these...

Expect to see changes to industry weightings.
January 7, 2008... Byline: Resolution fund manager Barry Norris and Neptune fund manager Rob Burnett talk to Russell Parsons about 2008 For fund managers in the IMA Europe ex UK sector, 2007 was a particularly challenging year. The sub-prime crisis, the...

Emerging markets are big enough to matter.
January 7, 2008... Byline: Allianz fund manager Michael Konstantinov and Schroder fund manager Robert Davey talk to Russell Parsons about 2008 The IMA Global Emerging Markets sector had a good 2007. The average return for the 12 months to 26 November was 29.5...

Seeking the calm waters of Treasuries and gilts.
January 7, 2008... The volatile equity markets have proved far from ideal for investors over the last year. Yet even their rollercoaster ride has been somewhat more rewarding than that of the bond market, which has born the brunt of a crisis in asset-backed and...

BlackRock: 24-month moratorium.
January 7, 2008... BlackRock is the latest company to impose a moratorium on its AGBP2.1bn institutional UK Property fund, potentially freezing redemptions for up to two years. It said the decision had been taken to maintain liquidity in its offshore fund....

Barings seeks China A-shares.
January 7, 2008... Baring Asset Management has applied to the Chinese authorities for allocation to A-shares, opening up the local market to retail investors in the UK. Although the company has not yet received confirmation of the allocation, or how much...

Pre-X rolls out second enterprise investment.
January 7, 2008... Pre-X Capital Management is launching its second enterprise investment scheme that invests in pre-IPO companies, with a barrier to entry less than half that of its first vehicle. The new fund, which takes a socially responsible approach to...

Swip launch steps up multi-manager presence.
January 7, 2008... Scottish Widows Investment Partnership has stepped up its multi-manager presence by launching two funds of funds. Joint heads of multi-manager Mark Harries and Simon Wood have virtually recreated two of their former Cazenove funds under...

Santander hybrids to enter UK market.
January 14, 2008... Byline: New funds will comprise concentrated portfolios of five to 10 underlying holdings Santander Asset Management is to enter the multi-manager arena with two fresh hybrid manager of managers/fund of funds vehicles. John Bearman,...

Clean energy, agricultural commodities top for Skerrit.
January 14, 2008... Clean energy and agricultural commodities funds have proven beneficial for investors over the past quarter, according to Skerrit Consultants. Andrew Merricks, head of investments at Skerrit, said adding funds such as AGBP37.2m Eclectica...

Gilts outshine corporate bonds as investors seek a safe haven.
January 14, 2008... Gilts are poised to make a come-back this year, as investors shy away from higher-yielding paper for fear of defaults, Close Investment Managers has said. Mark Parry, manager of the AGBP40m Enhanced Gilt fund, said the deteriorating...

Fauchier trust in bid to raise AGBP100m.
January 14, 2008... The AGBP133m Absolute Return fund of hedge funds trust is hoping to raise up to AGBP100m with a C-share issuance, following investor demand. Managed by London-based alternative investment specialist Fauchier Partners, the investment company...

Premier Oeic swaps its zeros for equities.
January 14, 2008... Byline: Sell off of zero dividend shares allows Absolute Growth Oeic to raise equity exposure Premier Asset Management has almost completed the overhaul of its AGBP55.4m Absolute Growth Oeic, cutting back on zero dividend preference shares...

Fidelity set to launch aggressive Asia fund.
January 14, 2008... Fidelity International is launching an aggressive Asian fund with a concentrated portfolio and a focus on investing in smaller Asian economies. Set to go live at the end of March, the fund will be run by institutional manager David...

Axa Elevate wrap with dual pricing structure goes live.
January 14, 2008... Axa Distribution Service's new wrap proposition Elevate has gone live, with six consultative partners as the first advisers to have access to the platform. The platform, which will be marketed to the wider public later in the year, offers...

Latest FSCS reform 'unclear' for advisers.
January 14, 2008... Byline: Apcims claims FSA's proposals increased confusion among advisory community The FSA's latest proposals for reforming the compensation scheme have muddied the waters for advisers, Apcims has claimed. The second set of proposals,...

Towry Law aquires Hazlems Financial.
January 14, 2008... IFA firm Towry Law has acquired London-based intermediary Hazlems Financial. This is the latest acquisition for the Bracknell-based company after it recently bought Scottish financial advisory firm McGowans and Northern Ireland-based group...

New Star to merge Special Situations and UK Alpha.
January 14, 2008... New Star Asset Management is planning to merge its AGBP54m Special Situations and AGBP424m UK Alpha funds. The fund house confirmed the move had been proposed because of consistent underperformance on the Special Situations fund, which is...

Bamberry takes Swip UK Real Estate helm.
January 14, 2008... Byline: Chris Bamberry, in role left by Nigel Bolton, is confident of performance turnaround Scottish Widows Investment Partnership has formally handed the management of its AGBP11.5m UK Real Estate fund to Chris Bamberry. Mr Bamberry...

Gairola takes on manager role.
January 14, 2008... Atlantis Investment Management has appointed a new manager for its open-ended AGBP123.9m India Opportunities fund. The outgoing manager, BP Singh, departed mid-December to pursue other interests outside the firm. Vinay Gairola assumed the...

Nottingham Friendly offers a three-tiered tracker plan.
January 14, 2008... The Nottingham Friendly Society has entered the unit-linked savings market with a three-tiered tracker plan. The Tracker Select Tax Exempt Savings plan comes with an ethical option that will track companies in the FTSE350 that pass a...

Aifa says consumer study backs stance.
January 14, 2008... The Association of Independent Financial Advisers has said research revealing consumer confusion about the different types of advice available confirmed the need for clarification. The research, commissioned by the Financial Services...

New Star makes Jeffree manager.
January 14, 2008... Robert Jeffree has been appointed manager of New Star Asset Management's AGBP27m Asia Portfolio in another of the company's multi-manager reshuffles. He is taking over from Mark Harris, New Star's head of funds of funds, who has been...

UK GDP growth to halve in 2008.
January 14, 2008... GDP growth for the UK will halve in 2008 from an estimated 3 per cent-plus last year, according to a new report. The Alliance Trust Research Centre pinpointed five major factors that represent a challenge to the UK economy: the global...

Julius Baer Alternative Risk Trading team hired by GAM.
January 14, 2008... GAM has hired Julius Baer private bank's Alternative Risk Trading team, creating its own in-house structured vehicles specialist team. The fund house said the move would utilise the skills of both groups - namely, the alternatives...

Swip opts for Hall as investment director.
January 14, 2008... Byline: Firm poaches Stephen Hall from Resolution in bid to bolster its global fund range Scottish Widows Investment Partnership is to beef up its global fund range after appointing a new investment director. Stephen Hall was poached...

Noble appoints McLaren as chief investment officer.
January 14, 2008... Noble Fund Managers has appointed Bruce McLaren as chief investment officer, in a bid to expand the company's mid-cap capacity. Mr McLaren said he was not only keen to increase Noble's funds under management, but also find new vehicles in...

S&P reveals 2008's 30 best stock ideas.
January 14, 2008... Standard & Poor's Equity Research has unveiled its Global Picks Portfolio, which holds the company's 30 best stock ideas for 2008. Last year's portfolio delivered a 37.7 per cent total return, significantly outperforming its benchmark S&P...

Tough times ahead for Asian markets.
January 14, 2008... Byline: Slowdown in developed world could put certain Asian equities at risk in the coming year It will be more difficult to extract returns from Asian markets in the coming year, the manager of Neptune's Asia Pacific Opportunities fund...

Matrix aims for AGBP15m.
January 14, 2008... Matrix Private Equity Partners is hoping to raise up to AGBP15m with an S-share issuance for its Income & Growth VCT. The new capital will be managed separately from the existing dual-managed O-share fund and will focus on management...

FCP and Sage launch India fund.
January 14, 2008... Alternative investment specialist Future Capital Partners has teamed up with Sage Fund Management to launch a closed-end India fund. The Sage Bhartiya Infrastructure trust will list on the Channel Islands Stock Exchange on 16 January, with...

Braemar reveals details of UK Agricultural Land trust.
January 14, 2008... Braemar Securities has opened the offer period for its UK Agricultural Land trust and revealed full details of its strategy. The vehicle opened to investment on 2 January, with the first closing slated for 31 March and an issue of shares...

Consumers opting for online shopping.
January 14, 2008... Byline: Allianz warns high street retailers not reliant on customer services risk being de-rated British retailers could see their share prices diverge according to how their online proposition, Allianz Global Investors has claimed. ...

Gartmore hires new UK retail team head.
January 14, 2008... Richard Pursglove is joining Gartmore as head of UK retail at the end of March. Mr Pursglove was formerly sales director of Cazenove Capital Management, where he had been for six years. Prior to that, Mr Pursglove worked for HSBC Asset...

Emerging markets sectors best in show.
January 14, 2008... Byline: Lipper data shows IMA emerging markets sectors outperformed other sectors in 2007 The Far East and other emerging markets were the best-performing IMA sectors over the 2007 calendar year, according to the latest figures from...

Insight beefs up its multi-asset team.
January 14, 2008... Insight Investment has injected fresh talent into its multi-asset team with the recruitment of Stephen Waddington. Mr Waddington arrives from Australian wealth management firm BT Financial and will take up position as director of...

Wealth opts for Healy.
January 14, 2008... Wealth management firm Citi Quilter has hired Tim Healy as an investment manager and vice president of its London office. In his new role Mr Healy will be running money as well as managing client relations. He will report to Stephen Vakil,...

Aubrey looks to Thailand.
January 14, 2008... Aubrey Capital Management is eyeing Thailand as the team adds to holdings in its AGBP27.3m Global Conviction fund. Fund manager Andrew Dalrymple said valuations in certain sectors such as consumer goods and banks were the most attractive in...

Witan speaks to UK Mainstream suitors.
January 14, 2008... Byline: Chairman approaches 20 asset management firms with view to taking over trust The chairman of the AGBP1.3m Witan investment trust has approached more than 20 asset management firms with the view to take over its AGBP600m UK...