Investment Adviser articles from January 2009

Investment Adviser archives from January 2009

Enjoy the drive in Jaguar's snarling stallion.
January 5, 2009... Byline: Patrick Sherwen I have yet to see a car that does not look at its best in black, and this is certainly true of the Jaguar XKR, which arrived looking as glossy as a celebrity stallion. The test coincided with the annual...

It's time to look beyond the catastrophe.
January 5, 2009... Byline: Phil Coggan We need to learn to live in a world where Wall Street does not dominate world markets The view from New York is gloomy. Although the crowds were nearly impassable by the Christmas tree at the Rockefeller Centre, not...

Making sure the funds deliver.
January 5, 2009... Byline: Lothar Mentel, chief investment officer and head of multi-manager at Octopus Investments Despite being the youngest member of the investment family, absolute return funds have quickly become high-profile vehicles Absolute...

Bleak outlook predicted for new year.
January 5, 2009... Byline: Rob Langston The global economic outlook is likely to remain poor as companies react to worsening market conditions, according to Schroders chief economist and strategist Keith Wade. Mr Wade said countries in the developed...

Private holdings of company shares slump.
January 5, 2009... Byline: Rob Langston Company shares held by private investors slumped to GBP118bn in 2008, putting the year on par with other recessionary years, according to Capita Registrars. The administrator of company share registers said private...

Low Carbon Accelerator ups stake in Proven Energy.
January 5, 2009... Byline: Rob Langston Low Carbon Accelerator has increased its stake in Proven Energy after investing a further GBP800,000 into the wind-turbine manufacturer. The closed-end low-carbon investment fund has now invested GBP6.65m in the...

New Star allowed to extend dealing suspension on property fund.
January 5, 2009... Byline: James Kenny The FSA has given New Star permission to extend the dealing suspension on its international property fund The asset manager had been forced to suspend the GBP674m fund last month following an increase in...

IFA Life urges advisers to adapt in 2009.
January 5, 2009... Byline: James Kenny IFA social networking website IFA Life has said IFAs should adapt their marketing activities to help their business endure tougher market conditions in 2009. According to the website, differentiation, regular...

Fidelity figures show cautious managed most popular.
January 5, 2009... Byline: James Kenny The Cautious Managed sector was the most popular for investors in 2008 as they continued to run for cover from the market downturn, according to figures from Fidelity FundsNetwork. Cautious funds led the way on the...

Architas Multi-manager appoints Jim Hardie.
January 5, 2009... Byline: James Kenny Architas Multi-manager has appointed Jim Hardie as finance and commercial director in a new role created within the fund management company. Architas is the new mutli-manager arm of Axa life and in his new role Mr...

Credit Suisse agrees to sale.
January 5, 2009... Byline: James Kenny Credit Suisse confirmed it has agreed to sell part of its fund management business to Aberdeen Asset Management in exchange for a 24.9 per cent stake of the company. The new deal is worth GBP250m and will see Credit...

Deal gives IFAs access to tax schemes.
January 5, 2009... Byline: James Kenny IFAs will now have direct access to inheritance tax schemes for their clients in a new deal brokered by the Way Group and wrap platform Ascentric. Under the new deal, IFAs will have access to all of Way's...

Neptune soft launches bond fund.
January 5, 2009... Byline: Anna Lawlor Neptune Investment Management's Ted Alexander is making his debut as a principal fund manager with a soft-launched International Bond fund. Mr Alexander has been assistant to Chris Taylor on the top-performing...

DigitalLook talks up blue chip bargains.
January 5, 2009... Byline: Anna Lawlor Blue chip companies available at bargain prices should provide a good source of dividend income in 2009, financial portal DigitalLook.com has said. Andy Yates, founder of DigitalLook.com, said: "The early part of...

Time to diversify.
January 5, 2009... Byline: Hugo Greenhalgh Welcome to the new year. Can it possibly be any worse than 2008? No one knows, is the rather sobering answer. The IMF cut its forecast for global growth in November by a further 0.75 per cent to 2.2 per cent for...

It's all about the people.
January 5, 2009... Byline: Hugo Greenhalgh Insynergy Investment Management chairman James Caan and chief executive Spike Hughes talk to Hugo Greenhalgh about their investment tactics James Caan, serial entrepreneur, judge on BBC TV's Dragons' Den and...

Quantum launches pair of structured products.
January 5, 2009... Byline: James Kenny Quantum Asset Management has launched two structured products to give investors access to securities but with low risk and high credit quality. The two new plans are the UK Protected Income portfolio and UK Premium...

PSigma sees good chance of UK recovery in 2009.
January 5, 2009... Byline: James Kenny Company set to increase exposure gradually to economically sensitive stocks and mid caps in next few weeks The chances of an economic recovery are increasing for 2009 and consequently PSigma Asset Management is to...

JOHCM moves into traded life policies.
January 5, 2009... Byline: James Kenny JO Hambro Capital Management has begun investing in traded life policies as a means to diversify and boost its funds. The group's GBP10m Global Select fund has invested in the asset class as it has been one of the...

Herrington agrees to stay on as chairman of RDC.
January 5, 2009... Byline: James Kenny The FSA has reappointed Tim Herrington as chairman of its Regulatory Decisions Committee for 2009. The RDC was originally established in 2000 in response to the Financial Services and Markets Act 2000 requirement...

GLG Partners to acquire SGAM UK.
January 5, 2009... Byline: Anna Lawlor The London-based asset management subsidiary of Societe Generale Asset Management is to be sold to European alternative investment managers, GLG Partners. The sale of SGAM UK, which manages $8.2bn (GBP5.6bn) in...

Threesixty warns on RDR proposal.
January 5, 2009... Byline: James Kenny IFAs should increase their opposition to the Retail Distribution Review's proposal to extend the GBP20,000 capital adequacy requirement to small IFAs, as it poses a major threat to their professionalism, Threesixty has...

Ignis to make job cuts.
January 5, 2009... Byline: Dominic Welling Ignis Asset Management is to make between 30 and 35 redundancies within its Glasgow office in the new year. The job cuts will impact on all business units, from sales to fund management. Ben Robinson, head of...

Long-term benefits on the frontier.
January 5, 2009... Byline: Rob Langston Though not immune from western turmoil, African markets are now attracting attention Talk of frontier markets is often dominated by the opportunities presented by emerging markets in Asia, particularly those with...

A guide to surviving the white-knuckle market ride.
January 5, 2009... Byline: Paul Wilcox Despite 2008's financial shocks, it's worth sticking around and carefully taking advantage of present market conditions Markets and share prices are seen to be governed by fear and greed. Bull markets are...

Look to Europe for strategies to survive the year.
January 5, 2009... Byline: Stephen Wilmot There is reason to be cautiously optimistic when looking at 2009. Stephen Wilmot speaks to fund managers about their expectations Investors face a dilemma coming into the new year. On the one hand, security has...

Marlborough buys main stake in Apollo.
January 5, 2009... Byline: Nick Rice Investment house plans to rebrand Apollo Investment Management early this year Marlborough revealed it has bought a controlling stake in Guernsey-based Apollo Investment Management as the asset management industry...

Fresh strategies for a new year.
January 5, 2009... Byline: Anna Lawlor As 2009 dawns, sectors related to dividend income and growth are already starting to dominate stock market forecasts The Christmas festivities are behind us, and the bedraggled investment community has taken a deep...

Fishy tale of seasonal cheer.
January 5, 2009... Byline: Rob Langston As financiers in Milan tightened their belts over Christmas, demand for luxury food in the city remained high after an unusual arrest involving caviar. Milanese pensioners and homeless people were treated to 40kg...

Paradigm shift brings optimism.
January 5, 2009... Byline: Paul Squires The extreme market events of September 2008 and the two months that followed are well documented. Anyone with an interest in securities will recognise the unprecedented nature of what was evolving, but traders - who...

Keep an eye on corporate bonds in 2009.
January 5, 2009... Byline: Jim Leaviss A difficult 12 months lie ahead, but it is unlikely default rates will be near what is expected This year will be very challenging. The Bank of England estimates the economy will contract by an annualised rate of...

Why the long face?
January 5, 2009... Byline: Anna Lawlor Surprising investment opportunities tend to surface during tough economic conditions, as art investors in Venice are finding. They have fallen head over hoof for new 'artist' Cholla - pronounced 'Choyah' - whose...

Beware the crockery crunch.
January 5, 2009... Byline: Anna Lawlor The global credit crisis and the subsequent financing of rescue plans by taxpayers, along with redundancy worries, have understandably riled quite a few of us. But it is the Japanese who have hit success with their...

Following the cult of the equity.
January 5, 2009... Byline: Daniel McAllister After a fortnight where the delights of Christmas hopefully eclipsed the horrors of 2008's economic fortunes, we find ourselves back at our desks, a rising tide of emails in our inbox and surrounded by awful...

Peering into the year's crystal ball.
January 5, 2009... Byline: Richard Urwin Expect more oppressive economic and corporate news as the new year kicks off - but don't forget to keep an eye on equities and fixed income The turmoil in financial markets has accelerated over the past couple of...

AIC survey shows managers divided over possible recovery.
January 5, 2009... Byline: James Kenny More than half of respondents claimed global recession was biggest threat to equities over the next 12 months Managers are divided on whether the market will begin to recover in 2009 and how the FTSE 100 index will...

Proposed tax reforms find favour with IMA.
January 5, 2009... Byline: Nick Rice The IMA has welcomed the Treasury's proposed fund tax reforms and consultations for listed investment companies. The Treasury offered last month to ensure UK funds would be defined as investing and not trading for tax...

Artemis warns gilt buyers may revolt.
January 5, 2009... Byline: Nick Rice Gilt investors could abandon government, and UK may have to seek IMF funding, warns Strategic Bond fund manager There is a 20 per cent chance gilt buyers will go on strike and the UK government will have to seek...

F&C set to axe nearly 100 jobs.
January 5, 2009... Byline: Gemma Westacott F&C Asset Management is to cut almost 100 jobs in a further cost-reduction programme aimed at saving GBP15m, or 10 per cent, of the company's cost base. The job cuts will predominantly be within the operational...

Brooks steps down from Schroders role.
January 5, 2009... Byline: Gemma Westacott Stephen Brooks, the chief financial officer at Schroders, has stepped down from the role, leaving Kevin Parry to take up the position. The company confirmed that Mr Brooks would leave Schroders in the first...

Furno & del CastaAo rebrands as Ambix Capital.
January 5, 2009... Byline: Rob Langston Company will continue to look for value opportunities in the current volatile market, says Pier-Albert Furno Former Lehman Brothers joint venture Furno & del CastaAo Capital Partners has rebranded after minority...

Up in smoke during tough times.
January 5, 2009... Byline: Anna Lawlor We have seen a return to Keynesian economics recently, so it should hardly be surprising that asset managers are doing their bit to bolster stock performance. Our insider at Henderson Global Investors let slip that...

A look at the road ahead.
January 5, 2009... Byline: Anna Lawlor As the financial markets stumble broken and bleeding into a new year, the bulls and the bears have different expectations of what 2009 will hold In the past year, almost every decisive action by policymakers was...

Be upbeat, say managers.
January 5, 2009... Byline: Nick Rice Funds remain positive about prospects for the year ahead, even as forced selling continues Funds of hedge funds are optimistic about buying opportunities in hedge fund strategies despite suffering their worst year...

F&C's Tigue sees 2009 rates approaching zero.
January 5, 2009... Byline: Nick Rice Manager of UK's oldest investment trust claims US will be first to recover from recession Corporate earnings and economies will contract, dividends will be cut and interest rates will approach zero in most major...

Scottish Widows to set up online study programme.
January 5, 2009... Byline: James Kenny Scottish Widows is aiming to help advisers upgrade their qualifications by setting up an online study programme. The new service, called the Professional Advisory Study System (Pass), will help advisers upgrade...

Alliance Trust issues warning over oil supply.
January 5, 2009... Byline: Jim Robinson Slowing demand for oil may be suppressing prices in the short term, but restricted supply will eventually buoy prices, according to Alliance Trust. Angus McPhail, global oil and natural resources analyst at...

Jubilee launches two new products.
January 5, 2009... Byline: Jim Robinson Jubilee Financial Products has launched two new structured products - the Fixed Return and the Regular Income plans - with both having payouts linked to the FTSE 100 index. According to Jubilee, one key feature of...

Newton revamps fixed income approach.
January 5, 2009... Byline: Gemma Westacott Newton Investment Management has restructured its fixed income investment resources, with Paul Brain stepping up to replace Stewart Cowley as investment leader of fixed income. Mr Brain, who joined Newton in...

Early signs of a return in US confidence.
January 5, 2009... Byline: Anna Lawlor The IMA North America sector has proved resilient in the past year. Anna Lawlor talks to US fund managers about the outlook for recovery The IMA North America sector has proved surprisingly resilient over the past...

MP rejects 'one size fits all' RDR course.
January 5, 2009... Byline: Dominic Welling IFAs should educated to higher standard and sales advisers to lower level, says McFall The FSA's proposed minimum-level qualification requirements do not go far enough and more emphasis should be placed on...

Mixed reactions to IMA's UK Equity Income sector split.
January 5, 2009... Byline: Nick Rice Portfpolios which do not deliver yield criterion will be rehoused in UK Equity and Income Growth sector The IMA's decision to split the UK Equity Income sector in two has drawn criticism and praise from managers, as...

Fantasy comes true for players.
January 12, 2009... Byline: James Kenny Despite the market taking a beating in 2008, some things are still looking up, namely JPMorgan's Fantasy Fund Manager game. With virtually all the funds in positive territory, and game players already making money,...

Cofunds appoints Brett Williams as chief exec.
January 12, 2009... Byline: James Kenny Cofunds has appointed Brett Williams as chief executive, taking over from Charlie Eppinger. Mr Williams - who has worked in financial services for more than 25 years and brings with him vast experience in the...

Martin Currie trials dummy 130/30 funds.
January 12, 2009... Byline: Nick Rice Global equity team four months into 18-month paper trading programme for the fund Martin Currie Investment Management has been testing out a dummy 130/30 global equity portfolio as part of its battle against the...

Merchant launches Zest for Oeic conversions.
January 12, 2009... Byline: Jim Robinson Merchant Investors has unveiled a service that will help financial advisers create their own funds and ultimately convert those funds into open-ended investment companies (Oeics). Taking the form of a partnership...

DigitalLook sees only 20% of FTSE 100 firms to cut dividends.
January 12, 2009... Byline: Rob Langston Analysts predict only 20 per cent of FTSE100 companies will cut dividends in 2009, according to investor website DigitalLook.com. Andy Yates, director of DigitalLook.com, said most companies saw dividend cuts as a...

Insynergy makes Matthew Deeprose business development director.
January 12, 2009... Byline: Rob Langston Insynergy Investment Management has appointed Matthew Deeprose as business development director. Mr Deeprose joined Insynergy after five years with Skandia Investment Group, where he was head of retail business...

Managers hail end of short-selling embargo.
January 12, 2009... Byline: Rob Langston Lifting of unpopular FSA shorting ban could heighten appeal of hedge funds and FOHFs Retail fund managers have welcomed the FSA's decision to drop the short-selling ban on UK financial stocks as they begin to look...

Insecure future for leveraged finance market.
January 12, 2009... Byline: Paul Watters The outlook for activity in the European leveraged finance market in 2009 is mired in uncertainty. Investors can expect very little primary leveraged finance market activity until the supply of credit becomes more...

Brace yourself for dark days ahead.
January 12, 2009... Byline: Laura Mossman A healthy outlook in the High Yield sector is difficult to envisage on the strength of the past year's performance Bond fund managers are keen to assert the asset class is presenting the best value, if not for a...

Global equity markets rebound despite volatility.
January 12, 2009... Byline: Rob Langston Global equity markets rebounded in December despite the volatility witnessed throughout the rest of the year, according to Standard & Poor's Index Services. In its latest review of global equity markets, Standard &...

Ignis still not satisfied with iBoxx prices.
January 12, 2009... Byline: Nick Rice iBoxx's bond pricing changes made on December 29 have not resolved all the difficulties corporate debt managers face in valuing their funds, according to the head of credit at Ignis Asset Management. Chris Bowie...

A message for Madoff.
January 12, 2009... Byline: Nick Rice Fraudster fund managers, beware - even if you steal from others, your personal possessions may not be safe. A statue pilfered from high-profile suspect Bernard Madoff has reappeared at a club he belongs to in Florida...

Credit Suisse team left intact.
January 12, 2009... Byline: Nick Rice One of the co-heads of multi-manager at Credit Suisse has confirmed the bank is not laying off any of his team after the Swiss giant announced it would sell off fund assets and make thousands of employees redundant. ...

Peeking inside the Fantasy Fund Christmas cracker.
January 12, 2009... Byline: Anna Lawlor Christmas is usually a time for congregating with family and friends, eating, drinking and being merry. While those in the investment industry would have been forgiven for breathing a sigh of relief that 2008 was...

Mixed reaction to record low rates.
January 12, 2009... Byline: James Kenny Bank of England's latest rate move just a precursor to a zero per cent rate, say industry members The Monetary Policy Committee (MPC) slashed interest rates last week to just 1.5 per cent - the lowest level in the...

Have we learnt?
January 12, 2009... Byline: Hugo Greenhalgh Making money out of misery has a long and unfortunately distinguished pedigree. Carpetbaggers have been replaced by ambulance chasers, but in essence vultures still circle whenever the scent of blood lies heavy in...

Julius Baer adds Defender to bond fund range.
January 12, 2009... Byline: Rob Langston Julius Baer has added its Absolute Return Bond Defender fund to its Absolute Return Bond fund range. The new fund has been added to to address investor demand for reduced risk and stable returns in the current...

Neptune talks up its Balanced fund.
January 12, 2009... Byline: Rob Langston Neptune said investors in its Balanced fund have seen their capital more than treble since it was launched in 1998. The GBP270m fund passed the 10-year mark as the top-performing fund in the IMA Balanced Managed...

Say your prayers as the recession drags on.
January 12, 2009... Byline: Rob Langston Not wanting to be left out of all the excitement of the recession in the UK, the Church of England has penned new prayers for the redundant and those with survivor guilt. Its 'prayer on being made redundant' offers...

New Star maintains Africa fund suspension.
January 12, 2009... Byline: James Kenny New Star Asset Management has confirmed it willextend the suspension of its GBP43m Heart of Africa fund indefinitely, taking advantage of recent rule changes by the Financial Services Authority (FSA). Last week,...

Bramdean cuts losses in Madoff funds.
January 12, 2009... Byline: Rob Langston Bramdean Alternative investment trust has announced it will be writing off the full cost of two investments it had in hedge funds run by Bernard Madoff. The trust had holdings in two hedge funds with direct or...

The opportunity of a lifetime?
January 12, 2009... Byline: Daniel McAllister Many multi-managers are unconvinced now is the time to turn to bond markets As many investors still reel from a brutal 2008, the clarion call of the bond markets is increasingly heard by eager ears. ...

Structured products slip in survey ranks.
January 12, 2009... Byline: Nick Rice Compared with earlier poll data, fewer advisers now recommend structured products A Morgan Stanley survey of advisers has indicated just more than half are recommending structured products to their clients, down from...

Managers shun sterling.
January 12, 2009... Byline: Nick Rice Managers claim international investors will lose faith in the UK as the year progresses Multi-managers have said they are still orientating their bond holdings towards non-sterling currencies as they prepare for...

S&P sees equities rebound.
January 12, 2009... Byline: Rob Langston Global equity markets rebounded in December despite the volatility witnessed throughout the rest of the year, according to Standard & Poor's Index Services. In its latest review of global equity markets, Standard &...

BlackRock warns over commodities supply.
January 12, 2009... Byline: Rob Langston Manager says prices will rise as hard-hit companies will not spend money on new supplies Commodities could face supply shortages when demand picks up again as companies make hard decisions against a backdrop of low...

Architas launches fund.
January 12, 2009... Byline: Sharon Flaherty Architas, the new multi-manager subdivision of Axa Investment Managers, has teamed up with JPMorgan Asset Management to launch the Architas Liquidity fund. Architas said it created the fund - to be managed by...

Bad year for private investors.
January 12, 2009... Byline: Dominic Welling Private investors owned one of the smallest equity portfolios on record at the end of 2008, holding just 9.6 per cent of the UK market. According to the latest Private Investor Watch from Capita Registrars,...

HSBC Gam brings funds to UK market.
January 12, 2009... Byline: James Kenny HSBC Global Asset Management has brought its Luxembourg-based fund range to the UK market. The fund range has been available to UK intermediaries through the Cofunds platform since January 5. HSBC said demand...

The hunt is on for income.
January 12, 2009... Byline: Andrew Thompson In the aftermath of the credit crunch, the quest for sustainable income has never been more important. The banking liquidity crisis and dramatic falls in commodity and energy prices have set off fears of more...

Henderson softens stance on China.
January 12, 2009... Byline: Rob Langston Investors prepared to ignore the negative connotations of investing in China could reap the benefits in 2009, according to Mike Kerley, fund manager at Henderson Far East Income investment trust. Mr Kerley said his...

RDR could see spike in ETFs, says Barclays Global Investors.
January 12, 2009... Byline: Rob Langston Proposals in Retail Distribution Review will spur interest in funds, claims firm A new regulatory environment for financial services could see a spike in the number of IFAs making use of ETFs for their clients,...