Investment Adviser articles from July 2009

Investment Adviser archives from July 2009

New Duffield venture builds up momentum.
July 6, 2009... Byline: Rob Langston and Nick Rice The launch of John Duffield's new venture Brompton Asset Management is gathering pace after new trademarks and internet domains were registered ahead of his return to the investment industry. Stephen...

The learning curve.
July 6, 2009... Byline: Nick Rice As they convene this summer to debate the content of Ucits IV, what can European fund regulators learn from their peers in the banking sector? To restate widespread regulatory convictions for the sake of comparison,...

Clerical Medical adds 36 funds to Fidelity FundsNetwork.
July 6, 2009... Byline: James Kenny Clerical Medical has linked up with Fidelity FundsNetwork and added 36 of its funds to the platform. Some of the funds now available include Clerical Medical's Defensive, Cautious, Balanced and Adventurous...

Axa Isle of Man to launch Autobalancing fund.
July 6, 2009... Byline: James Kenny Axa Isle of Man is launching a new Autobalancing fund that will provide exposure to equity markets, commodities and property, but give investors the ability to opt out during volatile markets. The fund can divert...

New Star Henderson managers take defensive stance.
July 6, 2009... Byline: James Kenny Graham Kitchen and Andy Jones, managers of the GBP150m Henderson New Star Higher Income fund, are taking a more defensive stance with their portfolio following the fund's recent merger with New Star Equity Income. ...

Green companies look to equity investors, survey shows.
July 6, 2009... Byline: Nick Rice Green companies favour financing from equity investors rather than the government to fill the funding gap in the industry, according to a survey from the Environmental Investment Network. More than two-thirds of...

OBSR upgrades Neptune European Opportunities.
July 6, 2009... Byline: Nick Rice OBSR has upgraded the Neptune European Opportunities fund, lowered its rating on the Gartmore UK Focus fund and removed it on the F&C Stewardship Growth and Income funds. The agency said it had raised the rating on...

Global Holdings considers legal challenge.
July 6, 2009... Byline: Sharon Flaherty Intermediary firm Global Holdings is supporting a legal challenge against SLS Capital after the Serious Fraud Office (SFO) said it was considering an investigation into SLS's dealings with insolvent structured...

Ellis lends a hand to Armstrong.
July 6, 2009... Byline: Nick Rice Simon Ellis is working as the business development guru for newly formed multi-manager Armstrong Investment Managers, as well as leading the consultation on the future of the Financial Services Skills Council (FSSC), it...

Gold on the up, says BullionVault.
July 6, 2009... Byline: Gemma Westacott Private investment in gold bullion has increased by 43 per cent this year, as investors look to hedge against further economic crisis. According to BullionVault, the amount of physical gold its customers hold in...

Veritas AM appoints Foo as senior analyst.
July 6, 2009... Byline: Jim Robinson Veritas Asset Management bolstered its Asia team with the appointment of Raymond Foo as a senior analyst. Mr Foo join from Brevan Howard, where he was chief Asian strategist and portfolio manager on the firm's...

Sweden urges turning heat down on alternatives.
July 6, 2009... Byline: Stephen Wilmot Sweden has started its six-month presidency of the European Union by warning against the "overzealous" regulation of hedge funds and private equity, to the relief of the UK alternative funds industry. Mats...

Bridport launches six funds to invest in ETFs.
July 6, 2009... Byline: James Kenny Jersey-based Bridport has launched a range of six funds that will aim to give investors a stable, positive return in any market cycle. The funds will invest in exchange traded funds across various asset classes,...

Hexam backs passive funds.
July 6, 2009... Byline: Nick Rice and Rob Langston The head of Hexam Capital Partners has told investors to use passive funds instead of his active portfolios as the firm unveiled plans to bring its Emerging Europe fund onshore. Bryan Collings,...

F&C AM placed on CreditWatch.
July 6, 2009... Byline: Rob Langston F&C Asset Management has been placed on CreditWatch with negative implications by S&P Ratings Services following its demerger from Friends Provident last week. The rating agency said concerns over declining revenue...

Brown to join LVAM sales team.
July 6, 2009... Byline: James Kenny LV= Asset Management (LVAM) has hired Robert Brown for its sales team, appointing him to the role of national accounts manager. Mr Brown, who has more than 35 years' experience in the financial services industry,...

Lyxor ETFs chief says RDR will lead to US-style model.
July 6, 2009... Byline: James Kenny The latest proposals from the Retail Distribution Review (RDR) will move the UK IFA market closer to the advisory model seen in the US, according to Dan Draper, head of Lyxor ETFs. Mr Draper said the latest...

Newton talks up 'nifty-fifty' large caps.
July 6, 2009... Byline: Nick Rice Newton Investment Management has predicted strong long-term returns from 'nifty-fifty' large caps, as it warned the recent market rally was pricing in a reversion to pre-credit crunch risk-taking. Richard Wilmot,...

FSA to undergo overhaul.
July 6, 2009... Byline: Sharon Flaherty The Financial Services Authority (FSA) last week unveiled a wide-ranging overhaul of its operational structure, including the integration of retail and wholesale firm supervision under a single division. Jon...

Phillips appointed chairman of consumer panel.
July 6, 2009... Byline: Gemma Westacott Adam Phillips has been appointed as chairman of the Financial Services Consumer Panel, having been in the role of acting chairman since last December. Mr Phillips had been vice-chairman of the panel since 2005....

Debate rages over Russia investment opportunities.
July 6, 2009... Byline: Rob Langston Differing opinions over the future investment opportunities for emerging markets are beginning to surface as fund managers debate where the next areas for growth will be found. A number of managers disagree over...

Martin Currie IM promotes Porter to co-manager of Global and Global Alpha.
July 6, 2009... Byline: James Kenny Martin Currie Investment Management last week promoted Alan Porter to co-manager of its GBP35m Global and GBP23m Global Alpha funds. The appointment, effective July 1, sees Mr Porter promoted from his position...

Advisers at odds over due diligence.
July 6, 2009... Byline: Nick Rice Advisers have clashed over the level of due diligence they need to perform on multi-manager and multi-asset portfolios following a massive discrepancy in returns last year. Due diligence has proved a particular issue...

Midas Capital issues 12m new shares to BoS.
July 6, 2009... Byline: Dominic Welling Midas Capital has completed the restructuring of its loan facilities by issuing more than 12m new shares worth 0.1 pence each to the Bank of Scotland. As a result of the issue, Bank of Scotland and SW Edwards...

Ignis dissolves Maia joint multi-manager venture.
July 6, 2009... Byline: Nick Rice Ignis Asset Management has dissolved its multi-manager joint venture Maia Capital Partners and brought its products inhouse after competition from distributor-influenced funds and other portfolios made it uneconomic to...

RLAM rebrands UK Strategic Growth trust.
July 6, 2009... Byline: Nick Rice Royal London Asset Management has rebranded its UK Strategic Growth trust to UK Mid-Cap Growth to reflect its concentration on the FTSE Mid 250 (ex-IT) index. Managed since launch by Leigh Himsworth, the fund has just...

Stick to the 'match' point at the tennis, guys.
July 6, 2009... Byline: Rob Langston A recent trip to Wimbledon to watch British star Andy Murray cruise into the semi-finals evoked memories of a previous outing with another fund manager to the All England Tennis Club for one of the Investment Adviser...

City Spin.
July 6, 2009... Simon Rogerson, chief executive at Octopus Investments Which individual has been most influential on your career? It will sound horribly trite, but it would be my parents. They gave me the confidence and belief I could do anything I...

Investment fanfare.
July 6, 2009... Byline: Rob Langston An interview with Hexam's Marina Akopian turned into a musical fanfare following a meeting near the company's London offices last week. Outside in the early morning sunshine, the interview was punctuated by the...

Fees under spotlight as Vanguard promises savings.
July 6, 2009... Byline: Rob Langston Vanguard's entry into the retail investment market continues to reverberate as the debate over passive fund fees rages on and providers come under increasing pressure to slash fees. New data from Fidelity...

SIG launches pair of passive funds.
July 6, 2009... Byline: Nick Rice Skandia Investment Group has launched passively managed UK Index and Gilt funds to allow advisers access to its segregated mandates. The UK Index fund, run by Barclays Global Investors (BGI) since 2004, and the Gilt...

Midas Capital brings four iimia Oeics under Miton banner.
July 6, 2009... Byline: Nick Rice Midas Capital is retaining the iimia brand on just a single retail fund after bringing its four iimia Oeics under the Miton umbrella. The GBP21.1m CF iimia Income fund will close and migrate its assets into a new CF...

Focus on UK property, urge experts.
July 6, 2009... Byline: James Kenny Investors keen to get back into the property sector should focus on the UK market as it holds the most potential, a number of leading industry figures have said. Property has had a torrid time over the last year as...

Don't dismiss the reds on these hot sultry days.
July 6, 2009... Byline: Feargus O'Sullivan Should we drink red wine in hot weather? To me, a hefty Bordeaux seems no more appropriate an accompaniment to a sultry summer's day than a steaming mug of Bovril. But while white wine's lighter body and...

Analyst: Outside Edge.
July 6, 2009... Byline: Martin Wood is senior analyst at Financial Express Research It is the stuff of investment legend. Ben Graham tells Warren Buffett: "In the short run, the market is a voting system, but in the long run, it is a weighing machine."...

Multi-Manager: Expert View.
July 6, 2009... Byline: Fraser Donaldson At the end of the road where I lived as a boy, John Corby had a small factory manufacturing valet stands for the discerning gentleman's dressing room. In the 1960s, some genius decided to make the trouser-pressing...

Aberdeen completes acquisitions from Credit Suisse.
July 6, 2009... Byline: Dominic Welling Aberdeen Asset Management last week completed the final closing of a number of acquisitions from Credit Suisse in a deal worth more than GBP297m. A total of 240m new ordinary shares have been issued to Credit...

Rathbone rips it up with East End jaunt.
July 6, 2009... Byline: Rob Langston As if the ups and downs of the past 18 months haven't been enough to test the mettle of financial journalists, one boutique manager is going the extra mile to make sure they are really frightened. Rathbone Unit...

RLAM's Stan completes Highland charity race.
July 6, 2009... Byline: Rob Langston Congratulations to RLAM's head of sales Stan Bland after completing the 153km West Highland Way race just shy of 26 hours. Mr Bland, who completed total ascents of 4,499m during the race from Milngavie to Fort...

Winterflood praises Templeton Emerging Markets.
July 6, 2009... Byline: Rob Langston The Mark Mobius-managed Templeton Emerging Markets investment trust has been lauded by Winterflood Investment Trusts for its benchmark outperformance during 2009. Simon Elliott, head of research at Winterflood,...

Candover ends discussions on takeover.
July 6, 2009... Byline: Rob Langston Private equity investment trust Candover said it was no longer looking for buyers after taking several measures to shore up its finances. The trust had received a number of initial expressions of interest for a...

Industry Voice: Don't water down governance.
July 6, 2009... Byline: Robert Talbut The biggest mistake we could make as we shift from the Apocalypse Now view of things to a growing sense of The Great Escape is that, either by design or insouciance, we drift back into believing things can be, or...

Atkinson Smith to join Nucleus wrap platform.
July 6, 2009... Byline: Stephen Wilmot Doncaster-based IFA firm Atkinson Smith will join the wrap platform Nucleus as both user and shareholder. Will Parmer, financial development manager at Atkinson Smith, said: "We have watched the development of...

Nimrod rolls out GBP26m vehicle.
July 6, 2009... Byline: Stephen Wilmot Nimrod Capital, a boutique focused on fund innovation and capital raising, last week listed a new investment trust focused on bombed-out small to mid-cap stocks in the resources and mining sector. The GBP26m...

Kim takes over risk-rated funds.
July 6, 2009... Byline: Stephen Wilmot Sinfonia Asset Management has appointed Paul Kim, director of portfolio management at multi-manager specialist FundQuest, to take over the management of its six-strong range of risk-rated funds. The Sinfonia...

Radical change will prevent future crises, says FSA chief.
July 6, 2009... Byline: Gemma Westacott Radical change of the regulation of financial services is needed if future crises are to be avoided, the chairman of the Financial Services Authority warned. Speaking at the annual British Bankers' Association...

Analyst: Managing the UK All Companies leviathan.
July 6, 2009... Byline: Anna Lawlor Advisers must be choosy when it comes to selecting a fund in this huge sector Of the IMA's investable expanse, the UK All Companies sector is its blue whale. A colossal, cumbersome brute, easily twice the size of...

IMA figures reveal popularity of intermediaries.
July 6, 2009... Byline: Dominic Welling Intermediaries represented the most popular distribution channel for UK domiciled funds in May, making up 87 per cent of gross retail business, according to the latest figures from the Investment Management...

Merricks to stand down as ombudsman.
July 6, 2009... Byline: Gemma Westacott Walter Merricks, the chief ombudsman at the Financial Ombudsman Service (FOS), will stand down from the role after 10 years in the post. Mr Merricks last week said he planned to leave the ombudsman service in...

News Analysis: Rebuilding trust with a back-to-basics approach.
July 6, 2009... Byline: James Kenny Should there be new regulations to encourage transparency, or do existing rules need to be better enforced? Hopes of a turnround within the investment community seem to be gaining momentum, but with the proverbial...

YouGov survey highlights IFAs' failure to diversify.
July 6, 2009... Byline: James Kenny UK investors have lost 15 per cent of their assets since 2007 due to the failure of IFAs to diversify client portfolios adequately, according to a survey conducted by the World Gold Council in association with YouGov....

Newton flags up US opportunities.
July 6, 2009... Byline: James Kenny Now may be an ideal time for investors to venture into the US market, as ideal opportunities are likely to be created by a number of rallies and pullbacks between now and 2010, Newton Investment Management claims. ...

Hargreaves Lansdown considers change in independent status.
July 6, 2009... Byline: Gemma Westacott Hargreaves Lansdown is considering whether to retain its 'independent' tag or convert to 'restricted' advice, following publication of the Financial Services Authority's latest Retail Distribution Review (RDR)...

Fund managers at odds over future of emerging markets.
July 6, 2009... Byline: Rob Langston Differing opinions over the future investment opportunities for emerging markets are beginning to surface, as fund managers debate where the next areas for growth will be found. A number of managers disagree over...

Liberty International buys Pearl Group.
July 6, 2009... Byline: Gemma Westacott Hugh Osmond's Pearl Group, the owner of Ignis Asset Management, has been sold to acquisition vehicle Liberty International. Pearl confirmed last week it had signed a deal that would see Liberty inject GBP510m...

Survey reveals return of financial optimism.
July 6, 2009... Byline: Gemma Westacott Optimism is returning to the UK financial services sector, with many expecting business volumes to rise in the next quarter after 21 months of falls. At the same time, optimism about the overall business...

Market Watch: Great expectations for future inflation.
July 6, 2009... Byline: Jim Leaviss A BoE paper reveals the role of the media in the public's perception of prices May's inflation data came in a little higher than the market expected when they were released in mid-June. Consumer Prices Index...

Philip Coggan: The journey from Brics to bubbles.
July 6, 2009... Byline: Philip Coggan Prolonged periods of low interest rates can create speculative bubbles - are emerging markets next? Low interest rates may be with us for some time. It is hard to believe the US Federal Reserve, the European...

Analyst: Invesco Perpetual.
July 6, 2009... Byline: Nick Rice Invesco Perpetual's Ian Trevers talks to Nick Rice about being sheltered from the City gossip-monger and opportunities to grow When a firm has more assets under management than any other company in its key market, a...

Bridport launches fund range.
July 6, 2009... Byline: James Kenny Jersey-based Bridport has launched a range of six funds that will aim to give investors a stable, positive return in any market cycle. The funds will invest in exchange traded funds across various asset classes,...

F&C demerger gets go-ahead.
July 6, 2009... Byline: Rob Langston The demerger of F&C Asset Management from Friends Provident has been given the go-ahead after courts approved the plans yesterday (2 July). Plans to distribute the 52 per cent stake in F&C have been in the...

Investment view: Advisers clash over multi-asset due diligence.
July 6, 2009... Byline: Nick Rice Advisers have clashed over the level of due diligence they need to perform on a multi-manager or multi-asset portfolio following a massive discrepancy in returns last year. Due diligence has proved a particular issue...

Investment view: Pay packets a catalyst for Maia.
July 6, 2009... Byline: Nick Rice Pay packets proved a key catalyst in the dissolution of Maia Capital Partners, one of its remaining managers has said, after shareholder Ignis Asset Management retained him to run the funds for it in-house. Simon...

Martin Currie promotes Porter to co-manage Global Equities funds.
July 6, 2009... Byline: James Kenny Martin Currie Investment Management has made changes to its Global Equities funds, making Alan Porter co-manager on its GBP35m Global and GBP23m Global Alpha retail funds. Porter's new position comes into effect...

Providers under pressure to slash passive fund fees.
July 6, 2009... Byline: Rob Langston Vanguard's entry into the retail investment market continues to reverberate, as the debate over passive fund fees rages on and providers come under increasing pressure to slash fees. New data from Fidelity...

Candover no longer looking for buyers.
July 6, 2009... Byline: Rob Langston Private equity investment trust Candover said it was no longer looking for buyers after taking several measures to shore up its finances. The trust had received a number of initial expressions of interest for a...

Nimrod reveals mining-focused investment trust.
July 6, 2009... Byline: Stephen Wilmot Nimrod Capital, a boutique focused on fund innovation and capital raising, has listed a new investment trust focused on bombed-out small to mid-cap stocks in the resources and mining sector. The GBP26m vehicle,...

Midas merges iimia Oeics under Miton umbrella.
July 6, 2009... Byline: Nick Rice Midas Capital is retaining the iimia brand on just a single retail fund after bringing its four iimia Oeics under the Miton umbrella. The CF iimia Income fund will close and migrate its assets into a new CF Miton...

Skandia launches passively managed funds to retail market.
July 6, 2009... Byline: Nick Rice Skandia Investment Group has launched passively managed UK Index and Gilt funds to allow advisers access to its segregated mandates. The UK Index fund, run by Barclays Global Investors (BGI) since 2004, and the Gilt...

Keydata directors claim they are victims of fraud.
July 6, 2009... Byline: Rob Langston The directors of Keydata Investment Services have claimed that they are the victims of fraud after a number of issues with underlying assets were identified by administrators. A statement from the firm revealed...

JPMAM launches multi-asset income fund.
July 6, 2009... Byline: Nick Rice JPMorgan Asset Management has launched a multi-asset income fund, as interest rates on cash accounts remain at record lows. The JPMorgan Multi-Asset Income Oeic will target a gross yield of 250 basis points above...

IFAs' failure to diversify costs clients 15% of assets.
July 6, 2009... Byline: James Kenny UK investors have lost 15 per cent of their assets since 2007 due to the failure of IFAs to diversify client portfolios adequately, according to a survey conducted by the World Gold Council in association with YouGov....

US market ripe for investment: Newton.
July 6, 2009... Byline: James Kenny Now may be an ideal time for investors to venture into the US market, as there are likely to be a number of rallies and pullbacks between now and 2010, creating ideal investment opportunities, according to Newton...

Key things to consider when choosing FoHFs.
July 6, 2009... Byline: Nick England The shifts in the market have led to difficult times and investors are seeking direction The severe market movements last year proved to be a testing time for many funds of hedge funds (FoHFs). Although they...

Growth makes renewable energy attractive.
July 6, 2009... Byline: Claire Burgess Harnessing wind, solar and ocean power is set to drive an expanding global economy Last year, for the first time, both the US and the EU added more power capacity from renewable sources than from conventional...

Europe on the edge means gems for investors.
July 6, 2009... Byline: Sudipto Banerji The pace and scale of recovery is uncertain, but the continent is still a very fertile terrain for stock pickers The European elections provided an opportunity for the people of the continent to express their...

A multitude ofptions.
July 6, 2009... Byline: Harriet Meyer Demand for corporate bonds has risen recently, but there are many other ways to invest in the asset class Dismal interest rates on cash deposits and stock market volatility over the year have led to soaring demand...

Analyst: Fidelity.
July 6, 2009... Byline: Catherine NeilanAis a freelance journalist Fidelity's Sanjeev Shah talks to Cathwerine Neilan about stepping into Anthony Bolton's shoes and maintaining the fund's top-quartile performance Succeeding Anthony Bolton in running...

Inteview: Stephane Prunet, Axa Rosenberg.
July 6, 2009... Byline: Anna Lawlor The global head of equities at Axa Investment Management explains why being a good listener is vital for a good fund manager Sitting in Axa's sprawling building overlooking the affectionately termed Gherkin, with...

Analyst: Swip.
July 6, 2009... Byline: Stephen Wilmot Swip's James Clunie talks to Stephen Wilmot about cash flow projections and buying failing companies that have been turned around Style tends to defy definition, and the investment style labels 'value' and...