Investment Adviser articles from June 2009

Investment Adviser archives from June 2009

Industry Voice: China on target for good growth.
June 8, 2009... Byline: Byung Ha Kim In spite of mixed messages export growth, retail sales and industrial production in China are slowing, fixed asset investment continues to accelerate and premier Wen Jiaobao is confident the country's economic growth...

Breeding Capital considers new fund.
June 8, 2009... Byline: James Kenny Bloodstock investment boutique Breeding Capital is mooting the possibility of launching a new Breeding fund, as well as a whole new business to sit alongside its current offering. The firm, which specialises in the...

Inflation to boost commercial property, says Ignis.
June 8, 2009... Byline: James Kenny Commercial property may once again come to the fore should inflationary pressures emerge in the wider economy, George Shaw, manager of the GBP340m Ignis UK Property fund, claimed last week. Mr Shaw said he expected...

M&G looks abroad for high dividends.
June 8, 2009... Byline: James Kenny Investors hungry for income would do well to look to countries such as Brazil and Australia, where many companies are paying consistently high dividends, according to M&G Investments. Stuart Rhodes, manager of the...

F&C Fantasy Rugby game roars ahead.
June 8, 2009... Byline: Jim Robinson After a rather slow start, the British and Irish Lions are now roaring after the mauling of the Golden Lions 74-10 on the tour's second game. Making the early running in F&C's Fantasy Rugby game is Jason Byer's...

Groves joins Smith & Williamson.
June 8, 2009... Byline: Jim Robinson Smith & Williamson Investment Management has appointed Andrew Groves to the newly created role of associate director of sales. Mr Groves, who has more than 20 years' experience in sales and marketing in fund...

GLG names new equity team.
June 8, 2009... Byline: Nick Rice GLG Partners has unveiled the new team on the five UK equity funds it acquired as part of Societe Generale Asset Management UK (SGAM UK) as it aims to boost their below-average returns. John White, head of UK...

Metlife research highlights adviser fears.
June 8, 2009... Byline: Dominic Welling Survey shows IFAs looking for more support on asset allocation from product providers Advisers are increasingly concerned they could face regulatory issues regarding their justification of certain asset...

Fortis chief executive Wohanka resigns.
June 8, 2009... Byline: Gemma Westacott Richard Wohanka, chief executive of Fortis Investments, has left the firm ahead of its integration with BNP Paribas Asset Management. Mr Wohanka, who joined Fortis in 2001 as chief executive after three years in...

Price to take charge of Fidelity fund.
June 8, 2009... Byline: Rob Langston Nick Price is to take over the management of Fidelity's $2.6bn (GBP1.6bn) FF Emerging Markets fund from Bob von Rekowsky as of July 1 as part of the ongoing development of the firm's emerging market offering. The...

JPMorgan names Fantasy Fund stars.
June 8, 2009... Byline: Jim Robinson JPMorgan has announced the latest winners in its ongoing Fantasy Fund Manager competition, and Hugo Greenhalgh, in his last week as editor of Investment Adviser, has come second for May. He is currently residing in...

A variety of vintages from California's muddled mosaic.
June 8, 2009... Byline: Feargus O'Sullivan In 1976, a host of top Californian wines beat their French counterparts in a blind tasting organised by British vintner Steven Spurrier. It's always gratifying to see someone puncture the unassailable...

Veteran Millward joins Jubilee.
June 8, 2009... Byline: Rob Langston Industry veteran Ian Millward is to join new investment boutique Jubilee Financial Products as head of UK distribution, where his first brief will be to recruit a national sales team to promote the current Jubilee...

S&P sees low leverage in FoHFs.
June 8, 2009... Byline: Nick Rice Company claims many fund of hedge funds left with significant cash balances at end of Q1 Standard & Poor's Fund Services has said leverage in funds of hedge funds (FoHFs) is as low as it has ever seen it, as funds...

LVAM appoints Webber.
June 8, 2009... Byline: Sharon Flaherty LV= Asset Management (LVAM) has expanded its property fund management team with the appointment of Henry Webber as fund manager. Mr Webber will report to Howard Meaney, head of property investment, and Charles...

Julius Baer to bring Russia fund to UK.
June 8, 2009... Byline: James Kenny Julius Baer is bringing its Russia fund to the UK market to capitalise in what it sees as a recovery in the region. The Luxembourg-domiciled Sicav is aimed at investors seeking medium-term capital growth from...

FundsNetwork reports confidence boost.
June 8, 2009... Byline: Rob Langston Platform's Adviser Sentiment index shows signs of improvement on December While advisers are still reeling from last year's volatile market conditions, confidence has picked up since December, Fidelity's...

UK recovery still long way off, says Invesco.
June 8, 2009... Byline: Dominic Welling Problems that led to recession have not been corrected, says head of investment Neil Woodford A sustained expansion in the economy is "a hell of a long way away", in spite of recent rallies according to Neil...

Expert View - A sense of dejA vu.
June 8, 2009... Byline: Fraser Donaldson A wave of mergers and acquisitions look likely in the future, but there is no need to panic The departure of Robert Burdett and Gary Potter from Credit Suisse at the beginning of 2007 to set up a multi-manager...

Midas Capital shareholders approve debt restructuring move.
June 8, 2009... Byline: Rob Langston Shareholders in Midas Capital have approved resolutions designed to restructure outstanding debt and introduce a new management incentive plan. Approval means Midas can continue with plans for a debt-for-equity...

Analyst: City Financial.
June 8, 2009... Byline: Nick Rice City Financial chief executive Andrew Williams talks to Nick Rice about the workings of a multi-boutique On the surface, City Financial is a tiny asset manager of the type that would be especially vulnerable to the...

Diary: Into the Lions' den.
June 8, 2009... Byline: Rob Langston Mikkel Bates, former head of UK marketing at GLG/SGAM UK, has come up with the perfect way to relax after deciding to leave the company last week. The SGAM UK veteran of 11 years will be watching the British and...

Lipper research shows Indian funds prosper.
June 8, 2009... Byline: James Kenny Change in government bodes well for investors, according to new survey Indian funds surged ahead after the ejection of "communist interference" from the country's governing coalition last month raised hopes of a...

Diary: A dog-eat-dog world.
June 8, 2009... Byline: Rob Langston An interview with Aberdeen's Hugh Young in last week's Investment Adviser seems to have prompted a flurry of viral e-mails to the company's offices. Acting features editor Anna Lawlor's interview led to a number...

Diary: Cash only, no cheques.
June 8, 2009... Byline: Rob Langston It seems banks aren't the only institutions crying out for money during the recession: the ifs School of Finance donated money to the British Museum last week. The cash in question wasn't the ordinary type,...

Diary: Lansdown wants Bristol on the footy map.
June 8, 2009... Byline: Rob Langston Hargreaves Lansdown chairman Stephen Lansdown is determined to bring football's biggest competition, the World Cup, to the company's home in Bristol. Mr Lansdown, who is also chairman of Bristol City football club,...

Commodity demand driven by inflation hedges.
June 8, 2009... Byline: Dominic Welling The significant increase in the demand for commodity assets since the start of the year has been driven by investors' early efforts to hedge against inflation, according to Threadneedle. In spite of benign...

Investors stick with ethical options.
June 8, 2009... Byline: James Kenny Investors are still keen on ethical investment in spite of the downturn and 25 years after the term first came into existence, according to Friends Provident. Friends Provident was the first company in the UK to...

Fidelity still optimistic on Asia.
June 8, 2009... Byline: James Kenny Asia remains an attractive place for investors thanks to enormous infrastructure investment in spite of the global slowdown, according to Fidelity International. Fidelity said the fact the majority of Asian...

RWC takes on Corcell for US equity fund.
June 8, 2009... Byline: James Kenny RWC Partners has hired former Threadneedle hedge fund manager Mike Corcell to head up its new US long/short equity fund. The new fund, expected to be launched in the third quarter, will generate returns from both...

Philip Coggan: Getting back to normality.
June 8, 2009... Byline: Phil Coggan What is the best way to reduce the debt mountain without prlonging recession? When we look back at the big economic changes of the past 10 years, one of the most startling is the rise in household debt. Throughout...

Market Watch: No stopping the corp bond market.
June 8, 2009... Byline: John Anderson Many experts are predicting a new golden age for corporate bonds, but how realistic is this? The long anticipated rally in sterling corporate bonds has arrived. After months of commentators forecasting a long...

FSA appoints two new non-executive directors to FSCS board.
June 8, 2009... Byline: Gemma Westacott The Financial Services Authority has appointed two new non-executive directors to the board of the Financial Services Compensation Scheme (FSCS). They are Citi Group senior government banker for the UK Ivan...

Thames River to manage Quantum Absolute Income.
June 8, 2009... Byline: Rob Langston Thames River Capital is set to take over the investment management of the Quantum UK Absolute Income fund, with current fund manager Joel Amsellem poised to join the company. According to a statement on Quantum...

Ashmore to launch new share classes.
June 8, 2009... Byline: Rob Langston Ashmore is to make access to its emerging market debt and local currency Sicavs and investment trust Ashmore Global Opportunities easier for UK investors with the launch of new share classes. The company will add...

Analysts note signs of discounts narrowing.
June 8, 2009... Byline: Rob Langston Winterflood says trend more noticeable in recent months Investment trust analysts are beginning to see signs of discount narrowing after a number of trusts saw spreads widening over the past year. Although...

Gravis launches fund focused on debt.
June 8, 2009... Byline: Stephen Wilmot Gravis Capital Partners, a recently founded Mayfair boutique focused on infrastructure investing, has launched the first UK retail infrastructure fund to focus on debt rather than equity. The partners hope to...

SLI warns on asset allocation strategies.
June 8, 2009... Byline: Rob Langston Asset allocation strategies need to change to take into account changing demographic trends and risk appetite, claimed Standard Life Investments. Frances Hudson, global thematic strategist at SLI, said investors...

Advisers happy at FSA lower fees announcement.
June 8, 2009... Byline: Stephen Wilmot Firms that don't outsource accounts to platforms still face sharp increase Advisers last week celebrated the FSA's announcement that the fees it will levy on financial services firms for the financial year...

IA A1 080609 sector comment.
June 8, 2009... Byline: Anna Lawlor As the UK sinks further into debt, awash with devalued cash thanks to quantitative easing, it will be interesting to see if investors finally let slide the domestic bias that currently hogs their portfolios. As...

FSA staff bag GBP19.7m in face of criticism.
June 8, 2009... Byline: Dominic Welling and Jim Robinson Executives earning more than GBP100,000 share GBP4m in bonuses despite widely publicised failings Staff at the Financial Services Authority (FSA) were awarded GBP19.7m in bonuses last year, in...

Thames River hires staff.
June 8, 2009... Byline: Dominic Welling Thames River Capital has announced five new appointments to its global credit and European equity teams, including four fund managers and an investment analyst. The global credit team has been strengthened with...

Perspective acquires advisory firm Multiplex.
June 8, 2009... Byline: Gemma Westacott IFA consolidator Perspective Financial Group has acquired Cheshire-based advisory firm Multiplex Financial Trustees in its seventh acquisition to date. As part of the deal, Multiplex will still trade under its...

Survey shows IFAs wary of RDR.
June 8, 2009... Byline: Dominic Welling Nearly half of IFAs agree the Retail Distribution Review (RDR) is bound to have a detrimental affect on their industry, according to research from Watson Wyatt. The report found that 50 per cent of the financial...

FSA proposes disclosure rule extension.
June 8, 2009... Byline: Gemma Westacott The Financial Services Authority (FSA) has proposed extending the current disclosure rules for significant net short positions in UK financial sector companies. The current disclosure rules are due to expire on...

Schroders rolls out 'world cash fund'.
June 8, 2009... Byline: Rob Langston Industry veteran Clive Dennis to manage ISF Global Managed Currency vehicle Schroders launched its first managed currency fund, Schroder ISF Global Managed Currency, to the retail market last week to be managed by...

JO Hambro makes Jeff Keen as director of fixed income.
June 8, 2009... Byline: Rob Langston JO Hambro Investment Management has appointed Jeff Keen as director and co-head of fixed income. Mr Keen was previously chief investment officer at TriAlpha Investment Advisors, where he chaired the asset...

Co-manager leaves BlackRock trust.
June 8, 2009... Byline: Rob Langston The investment management shake-up at Eastern European investment trust has taken another twist after it revealed co-manager Plamen Monovski has left BlackRock. The departure is the latest development for the...

City Spin: Pramit Ghose.
June 8, 2009... Byline: Rob Langston Pramit Ghose is manager of the Elite Bloxham Global Equity Income fund Which individual has been most influential on your career? Warren Buffett. His simple stock-picking style and common-sense approach make...

Roger Yates takes on non-executive role with F&C.
June 8, 2009... Byline: Rob Langston Former PricewaterhouseCoopers chairman Kieran Poynter also joins board Former Henderson chief executive Roger Yates has joined F&C as a non-executive director, sitting on the company's remuneration committee. ...

A roller coaster ride.
June 8, 2009... Byline: Martin Wood, senior analyst, Financial Express Research There are two things to be said almost immediately about the rough grouping of funds in the IMA Specialist sector that focus on a particular country or geographical region. The...

Euro View: Ucits III.
June 8, 2009... Byline: David Ricketts More hedge funds are uncovering the possibilities of Ucits III Faced with liquidity issues, impending regulation from Brussels and increased investor scrutiny, more hedge funds in Europe are discovering the...

T Bailey AM appoints Hughes as non-executive director.
June 8, 2009... Byline: Nick Rice Fund of funds manager T Bailey Asset Management has appointed a former chief investment officer of Baring Asset Management as a non-executive director. The move to hire Michael Hughes came as T Bailey delivered...

Dunedin appoints Marescotti as non-executive director.
June 8, 2009... Byline: Rob Langston Dunedin Enterprise investment trust has appointed Italian investment heavyweight Federico Marescotti as a non-executive director. Mr Marescotti already holds directorships at two other UK investment trusts,...

Close Investments closes four offshore sub-funds.
June 8, 2009... Byline: Rob Langston Close Investments has confirmed the closure of four offshore sub-funds of its Dublin-domiciled Global Funds group. The Continental European Equity, Enhanced Gilt, Far East Equity and Global Growth sub-funds have...

Work and pensions secretary Purnell resigns.
June 8, 2009... Byline: Rob Langston The resignation of work and pensions secretary James Purnell has sparked fresh controversy surrounding the Labour party leadership and added a further blow to Gordon Brown's government. In a letter to the prime...

GLG appoints Richard Phillips to co-lead new UK retail division.
June 8, 2009... Byline: Nick Rice GLG Partners has appointed the head of retail at recent acquisition Societe Generale Asset Management UK to co-lead its new UK retail division. Richard Phillips will spearhead the asset manager's recent move...

Price to manage Fidelity Emerging Markets fund.
June 8, 2009... Byline: Rob Langston Nick Price is to take over the management of Fidelity's $2.6bn (GBP1.6bn) FF Emerging Markets fund from Bob von Rekowsky as of July 1, as part of the ongoing development of the firm's emerging market offering. The...

GLG Partners shuffles fund managers.
June 8, 2009... Byline: Nick Rice The co-managers of GLG Partners' global tech, media and telecoms (TMT) assets will now run the GLG Technology Equity fund following the departure of Hugh Grieves. Phil Pearson and Anthony Burton run GBP200m of TMT...

SGAM UK's Bates departs GLG following merger.
June 8, 2009... Byline: Rob Langston Mikkel Bates, former head of UK marketing at Societe Generale Asset Management UK (SGAM UK), has been released following the recent merger of the company with GLG Partners. He said it had been decided he would...

Midas shareholders give debt-for-equity swap go-ahead.
June 8, 2009... Byline: Rob Langston Shareholders in Midas Capital have approved resolutions designed to restructure outstanding debt and introduce a new management incentive plan. Approval means Midas can continue with plans for a debt-for-equity...

Ethical investments still popular.
June 8, 2009... Byline: James Kenny Investors are still keen on ethical investments, even during the downturn and 25 years after the term first came into existence, according to Friends Provident. Friends Provident was the first company in the UK to...

JO Hambro hires BDO's Michael Hogg.
June 8, 2009... Byline: Rob Langston JO Hambro Capital Management has hired analyst Michael Hogg to support John Wood, senior manager of its GBP380m JOHCM UK Opportunities fund. Hogg, who joins from BDO Stoy Hayward, will support Wood and co-manager...

Investors urged to alter asset allocation strategies.
June 8, 2009... Byline: Rob Langston Asset allocation strategies need to change, claims Standard Life Investments, to take into account changing demographic trends and risk appetite. Frances Hudson, global thematic strategist at SLI, said investors...

Thames River takes over management of Quantum fund.
June 8, 2009... Byline: Rob Langston Thames River Capital is set to take over the investment management of the Quantum UK Absolute Income fund, with current fund manager Joel Amsellem poised to join the company. According to a statement on Quantum...

Gravis reveals first debt-focused UK retail infrastructure fund.
June 8, 2009... Byline: Stephen Wilmot Gravis Capital Partners, a recently founded Mayfair boutique focused on infrastructure investing, has launched the first UK retail infrastructure fund to focus on debt rather than equity. The partners hope to...

C&G Properties unveils UK residential land fund.
June 8, 2009... Byline: Rob Langston C&G Properties has launched a new UK residential development land fund to take advantage of heavily discounted land in the South East of England with planning permission. The Cavendish & Gloucester Land fund -...

Ashmore expands share classes.
June 8, 2009... Byline: Rob Langston Ashmore is to make access to its emerging market debt and local currency Sicavs and investment trust Ashmore Global Opportunities easier for UK investors with the launch of new share classes. The company will add...

RWC to launch US long short equity fund.
June 8, 2009... Byline: Rob Langston RWC Partners is to launch a US long short equity fund in the third quarter of 2009, following the appointment of former Threadneedle fund manager Mike Corcell. Corcell previously launched and managed the...

Dunedin Enterprise appoints Federico Marescotti as non-exec.
June 8, 2009... Byline: Rob Langston Dunedin Enterprise investment trust has appointed Italian investment heavyweight Federico Marescotti as a non-executive director. Marescotti already holds directorships at two other UK investment trusts, including...

JO Hambro IM appoints Keen as co-head of fixed income.
June 8, 2009... Byline: Rob Langston JO Hambro Investment Management has appointed Jeff Keen as director and co-head of fixed income. Keen was previously chief investment officer at TriAlpha Investment Advisors where he chaired the asset allocation...

Schroders to launch first retail currency fund.
June 8, 2009... Byline: Rob Langston Schroders is set to launch its first retail currency fund tomorrow (2 June) managed by industry veteran, Clive Dennis. The actively managed Schroder ISF Global Managed Currency fund will invest in currencies around...

T Bailey appoints former Barings CIO as non-exec director.
June 8, 2009... Byline: Nick Rice Fund of funds manager T Bailey Asset Management has appointed a former chief investment officer of Baring Asset Management as a non-executive director. Michael Hughes had become chief investment officer at Barings in...

Former Henderson chief Roger Yates joins F&C.
June 8, 2009... Byline: Rob Langston Former Henderson chief executive Roger Yates has joined F&C as a non-executive director, joining the company's remuneration committee. It is the latest appointment for Yates - who retired from Henderson last year...

C&G rolls out land fund.
June 8, 2009... Byline: Rob Langston C&G Properties has launched a new UK residential development land fund to take advantage of heavily discounted land with planning permission in the south-east of England. The Cavendish & Gloucester Land fund -...

GLG appoints Phillips to co-lead new UK retail division.
June 8, 2009... Byline: Nick Rice and Rob Langston Richard Phillips and Andrew Thatcher will play role in helping to grow the company's retail offering for UK investors GLG Partners has appointed Societe Generale Asset Management UK's Richard Phillips...

Focus: US healthcare.
June 8, 2009... Byline: Gareth Powell and Daniel Mahony With a debate raging over reform, and the publishing of clinical data, positive newsflow is expected Stock markets across the globe were very strong throughout April. As expected, however,...

Focus: Economic outlook.
June 8, 2009... Byline: Richard B Hoey There will be no new 'Great Depression' - just a 'Great Recession' - as policymakers act swiftly to implement fiscal policies to combat the downturn Contrary to investor sentiment, the economic outlook has...

Focus: Strategies.
June 8, 2009... Byline: Andy Cawker In spite of the possibility of a nascent bull market rally, it is time to take a more market neutral approach After almost 18 months of stock market misery, a rally of more than 25 per cent in UK share prices from...

Analyst: Invesco.
June 8, 2009... Byline: Rob Griffin Invesco's Dean Newman talks to Rob Griffin about longer-term opportunities in Latin America Latin American equity markets have bounced back strongly this year after being affected by the global recession, but it is...

Analyst: Jupiter.
June 8, 2009... Byline: Rob Griffin Jupiter's Avinash Vazirani talks to Rob Griffin about the dominance of domestic investors in India in the past 18 months Avinash Vazirani, the manager of the GBP45m Jupiter India fund, believes the recent Indian...

Investec renovates offshore fund range.
June 8, 2009... Byline: Rob Langston Investec has revealed a radical overhaul of its offshore high-yield and corporate bond range with the merger of six funds into two. The recently renamed Investec GSF Investment Grade Corporate Bond fund has almost...

Tales told by idiots.
June 8, 2009... Byline: Hugo Greenhalgh What do you believe in any more? Has society atomised to such an extent that nothing actually means anything any more? Former Labour minister Tony Benn last week reportedly said Tony Blair was nothing but a...

News Analysis: Ucits.
June 8, 2009... Byline: Nick Rice Hedge fund managers who launch Ucits versions of funds in order to recover assets may be in for a shock In recent weeks, hedge fund managers have sought to recover assets under management by marketing their...