Investment Adviser articles from May 2008

Investment Adviser archives from May 2008

Pictet launches fund from Russia with love.
May 5, 2008... Byline: Catherine Neilan Firm's Russian Equities fund will be run by Agne Zitkute and benchmarked against MSCI Russian Equityes 10-40 index Pictet Funds has taken its first step into single-country emerging market retail products, with...

Cash savings are best bet to beat inflation.
May 5, 2008... Byline: Philip Coggan Global supply and demand are the key triggers of inflationary spirals and, in the short term, demand is outstripping supply, so inflation looks set to continue What to do about inflation? Oil, at the time of...

A model reputation.
May 5, 2008... Byline: Jim Robinson The US and EU are keen to emulate the FSa regulatory model, moving towards principle-based regulation Though for some it may beggar belief, the Financial Services Authority enjoys something of a reputation for...

Looking for the bigger picture on a global scale.
May 5, 2008... Byline: Jim Robinson Neptune fund manager Felix Wintle talks to Jim Robinson about reducing risk while seeking exposure to the big themes The GBP29.7m Neptune US Opportunities fund, managed by Felix Wintle, aims to identify sectors in...

Forget inflation, it's the banking crisis we should be worrying about.
May 5, 2008... Byline: Jim Leaviss If past economic crises are anything to go by, the global slowdown will be followed by falling inflation. Therefore policymakers need to focus on the banking crisis Over the past nine months, markets have rapidly...

Sarasin gains shift approval.
May 5, 2008... Byline: Oliver Good The IMA has agreed to shift Sarasin & Partners' GBP117.4m EquiSar IIID fund out of the Specialist sector and into the Active Managed peer group The industry body moved the fund on 1 May, and confirmed the...

Stellar showcases Eastern European fund.
May 5, 2008... Byline: Oliver Good Newly launched firm Stellar Asset Management is bringing an eastern Europe property fund to UK investors. The closed-end Stellar Baltic States fund will comprise a portfolio aimed at providing asset growth over the...

Optimistic Majedie prepares for upturn.
May 5, 2008... Byline: Catherine Neilan The manager of Majedie's $144.5m (GBP72.7m) UK Opportunities fund is preparing for British stocks to come out of the downturn, despite continuing concerns over the country's economy. Adam Parker, who also runs...

Resolution boutique refocuses its strategy.
May 5, 2008... Byline: Oliver Shah Resolution Asset Management boutique Hexam Capital has redefined itself as an emerging markets specialist, reducing the emphasis it had placed on natural resources. A rationalisation saw John Payne, then manager of...

Cofunds to list L&G's three new funds.
May 5, 2008... Byline: Oliver Shah The Cofunds platform will list Legal & General's three new multi-manager funds from launch. The funds - revealed in Investment Adviser in March - will consist of balanced, income and growth offerings. Russell...

Oxford's fifth enterprise scheme takes off.
May 5, 2008... Byline: James Kenny Oxford Capital is to launch its launching its fifth enterprise investment scheme on 6 May. The new fund will invest in various high-growth businesses from start-up to IPO and will cover sectors such as...

Barclays offers investment shelters.
May 5, 2008... Byline: James Kenny Barclays Wealth is launching a suite of investment plans for investors seeking shelter from the ongoing volatility. The new range includes plans such as the Protected FTSE Plan, the Minimum Return Plan and the...

Wine appreciation.
May 5, 2008... Byline: Feargus O'Sullivan I am a self-confessed wine idiot. I was well into adulthood before I ever bought a bottle that didn't come from a bargain bucket or the dusty shelf of a late-night newsagent. While my more refined...

Insight opens Absolute range.
May 5, 2008... Byline: Oliver Shah Insight Investment is looking to open up its Absolute Insight range of cash-plus vehicles to the advisory market by adding them to retail funds platforms. To date, the suite has only been available to institutional...

Hambi officially leaves Gartmore Investment.
May 5, 2008... Byline: Oliver Shah Former multi-manager boss Bambos Hambi has officially left Gartmore Investment, following a period considering his options. A spokesperson confirmed his departure and said he would be pursuing other interests. The...

Lazards pours cold water on fears of spreading recession.
May 5, 2008... Byline: Oliver Good Recent deratings in emerging markets and fears the slowdown in the developed world will spread have not dampened the optimism of the managing director of Lazard Asset Management's Emerging Markets Equity team. ...

First State focuses on sustainability.
May 5, 2008... Byline: Oliver Good First State Investments is planning to launch a Global Emerging Markets Sustainability fund, which will aim to take account of sustainability themes and issues. Glen Finegan, manager at First State, said the fund...

Mobius keen to bridge frontier to Europeans.
May 5, 2008... Byline: Oliver Good Franklin Templeton Investments' emerging markets guru Mark Mobius is planning to bring his Templeton Frontier Markets Equity fund to European investors. The manager, who runs roughly GBP20bn in assets across a...

MS builds its structured property plan.
May 5, 2008... Byline: Oliver Shah Morgan Stanley IQ has announced the launch of four structured growth products, including the first in a planned series of commercial property plans. The UK Commercial Property Growth Plan is based around the IPD UK...

Blue Sky flies its version two.
May 5, 2008... Byline: Oliver Shah Blue Sky Asset Management has launched the second version of its Asset Allocation Accelerated Growth plan, which gives investors the chance to gain their exposure to four of the world's largest stock markets. AAAG...

Martin Currie's Pacific fund rises.
May 5, 2008... Byline: Oliver Shah The GBP116.6m Martin Currie Pacific trust's NAV gained 12.8 per cent over a year to 29 February, against a rise of 7.6 per cent in the MSCI All Countries Asia Pacific Free index. John Millar, fund manager, said...

Taping teeth.
May 5, 2008... Byline: Hugo Greenhalgh Journalists are accustomed to living among piles of audio cassettes. For us, taping is part of our profession, if a little sneered at by those proficient at shorthand. Even with the advent of digitalisation, our...

Murphy hired to boost Henderson's UK teams.
May 5, 2008... Byline: James Kenny Henderson Global Investors has hired Tristan Murphy as sales manager to boost its UK strategic alliance teams. Mr Murphy will be starting at the company on 6 May and will be responsible for managing relations within...

Further rate cuts on the way, say experts.
May 5, 2008... Byline: James Kenny The US will see further interest rate cuts, despite the Federal Reserve's moves to slash the base rate from 5.25 per cent last autumn to 2 per cent now, industry experts have claimed. Last week's cut was the seventh...

Aifa seeks out new policy director.
May 5, 2008... Byline: Oliver Good The Association of Independent Financial Advisers is seeking a new director of policy following deputy director general Fay Goddard's decision to depart Ms Goddard spent 10 years at Aifa and will leave in July 2008....

One Olympic-sized jolly.
May 5, 2008... Byline: Oliver Good Journalists are notorious for loving freebies, but it seems IFAs are also not above receiving the occasional complimentary trip. Two advisers have just won an all expenses-paid trip to support Team GB at the Beijing...

Pah, who needs a GBP125m bonus?
May 5, 2008... Byline: Oliver Good How do you know that you were born to make money? If you're so confident of your own abilities that you can walk away from a GBP125m bonus package to start up your own firm. Greg Coffey, one of the hedge fund...

Palming the long-term prospects.
May 5, 2008... Byline: Oliver Good Diary is forever being told the importance of investing for the long term, but this would try the patience of even the most tolerant investor. Scientists in the Ivory Coast have found a genetically unique...

Sailing down the porcelain highway.
May 5, 2008... Byline: Oliver Good When the first English colonialists landed in the subcontinent in the 17th-century, expeditions were plagued by the classic emerging markets problems - cholera, diahorrea and sunstroke. New Star's hardy team...

Nucleus hits back against wrap talk.
May 5, 2008... Byline: Helen Burggraf Nucleus Financial last week fought back against what it said was criticism from some provider-led platforms of its type of financial adviser-owned web-based investment platform. The focus by such rival platforms...

Lighthouse shines on LVAM to guide in new funds.
May 5, 2008... Byline: Oliver Shah LV= Asset Management is seeking FSA approval to launch four multi-manager funds in association with distribution firm Lighthouse Group. Tom Caddick and the LVAM fund of funds team will run the portfolios, which...

Morgan Stanley breaks into sub-Saharan Africa.
May 5, 2008... Byline: Oliver Shah Morgan Stanley Investment Management has expanded the remit of its i 1/2367m (GBP286.6m) Sicav Emerging Europe, Middle East and North Africa Equity fund to take advantage of opportunities in sub-Saharan Africa. The...

Swip jumps on JOHCM opportunities.
May 5, 2008... Byline: Oliver Shah Scottish Widows Investment Partnership multi-managers Simon Wood and Mark Harries have added the GBP189.5m JOHCM UK Opportunities fund to the portfolio of their GBP2.8m Select Boutiques fund. The pair said JOHCM...

Finance does the catwalk.
May 5, 2008... Byline: Hugo Greenhalgh To Pictet Towers for the launch of the Prix Pictet, the world's premier photographic award in sustainability (well, that's what the blurb said). The intriguing crowd, listening to speeches from - among others -...

Meteor lands new fund in volatile space.
May 5, 2008... Byline: James Kenny Meteor Asset Management has unveiled its latest fund, which generates returns by investing in volatility within the FTSE100 through reverse convertibles. The Ucits III-compliant Protected Equity fund offers capital...

Alternatives swipe flavour of the month.
May 5, 2008... Byline: Stephen Wilmot Niche products are taking the limelight from plain vanilla products There is a saying that the only thing which goes up in a falling market is correlation. Negative sentiment does not respect traditional market...

Threadneedle moves into commodities sector.
May 5, 2008... Byline: Helen Burggraf Threadneedle Asset Management last week revealed plans to make a decisive move into the commodity sector, with the appointment of David Donora to head up a new commodities team as its executive director. Few...

Noble VCT shakes up its management.
May 5, 2008... Byline: Helen Burggraf Charles Pinney will assume the role of chairman of Noble Health VCT, the London-based venture capital trust, succeeding Gill Nott, who will leave the post and her place on the board at the trust's annual general...

JPM board wins backing to rename trust.
May 5, 2008... Byline: Oliver Shah The board of the GBP1bn JPMorgan Fleming Mercantile trust has succeeded in renaming the company the Mercantile trust, after shareholders voted in favour at the annual general meeting. Juliet Dearlove, company...

Martin Currie's Japan fund lures platforms.
May 5, 2008... Byline: Oliver Shah The Cofunds and FundsNetwork platforms have added Martin Currie Investment Management's GBP98m Japan Alpha fund to their ranges. Managers John-Paul Temperley and Keith Donaldson run the fund on an unconstrained,...

Seven Dials increases fund range.
May 5, 2008... Byline: James Kenny Property specialist Seven Dials Consulting is looking to expand its investment range in the next few months, with the launch of both multi-manager and single manager funds. The London-based company, which already...

Swip increases its fixed income team.
May 5, 2008... Byline: Oliver Good Scottish Widows Investment Partnership has added to its fixed income team with the appointment of Stuart Steven, who will co-manage the firm's GBP1.5bn Corporate Bond Plus fund. Mr Steven has been appointed as...

New IMA sector moving in offshore direction.
May 5, 2008... Byline: Catherine Neilan The IMA has taken a step towards introducing offshore funds to its range of sectors, by making the newest of its peer groups include both UK and overseas-domiciled vehicles. The Absolute Returns sector, which...

MPC's Blanchflower warns of correction.
May 5, 2008... Byline: Helen Burggraf A correction of approximately one-third in house prices could be on the cards in the next two to three years, Monetary Policy Committee member of the Bank of England David Blanchflower has warned. House price to...

Keydata misses Aim benchmark.
May 5, 2008... Byline: Oliver Shah The Keydata Aim VCT undershot its benchmark over six months to 31 March, with ordinary shares losing 15.3 per cent in NAV terms against the FTSE Aim All-Share decline of 14.2 per cent. C shares, which are due to be...

Skandia adds Indian products to offshore mix.
May 5, 2008... Byline: Oliver Shah Skandia International has begun expanding its roster of offshore funds by adding three products from subcontinent-based Kotak Mahindra Asset Management. The Rs5.9bn (GBP73.3m) Kotak Indian Growth, Rs1.7bn Indian...

Beer quenches thirst for tax relief.
May 5, 2008... Byline: Helen Burggraf London-based venture capital firm Beer & Partners is launching a product that will offer certified high net worth and sophisticated investors the opportunity to qualify for EIS tax relief. It is the first such...

Cazenove offers discount on Multi-Manager fund.
May 5, 2008... Byline: Oliver Shah Cazenove Capital Management is offering a 1 per cent discount on initial fees for its flagship GBP139.6m Multi-Manager Diversity fund until 1 November. The deal will apply to investments placed directly and those...

Sector surrounded by uncertainty.
May 5, 2008... Byline: Laura Mossman The IMA North America sector is surrounded by uncertainty. Conditions have, of course, been universally difficult for all managers in the sector as a result of the credit crunch, but there seems to be an overall...

US markets hold up well.
May 5, 2008... Byline: Chris Traulsen The US is the epicentre of the credit crisis roiling world markets, but markets there have actually held up reasonably well. In dollar terms, the S&P500 rose 5.5 per cent in 2007, slightly better than the FTSE...

A return to polarised distribution?
May 5, 2008... Byline: Iain Anderson In 1985 Hollywood released Back to the Future - and its theme of returning to the past to safeguard the future seemS strangely relevant today. For it was also during 1985 that the then Conservative administration...

FSA seeks to enforce taping.
May 5, 2008... Byline: Helen Burggraf The FSA has reiterated its stance on telephone taping in a bid to reduce "market abuse" such as insider trading in its Market Watch review. The review comes a little more than a month after an intra-day plunge...

JOHCM watches market 'stock-by-stock'.
May 5, 2008... Byline: Helen Burggraf Investors in European equities increasingly must look at the market "on a stock-by-stock basis", with strong cash flows being prioritised "in a way that has not been seen since 2001/2002," according to Rod Marsden,...

Philbin leaves F&C to join new company.
May 5, 2008... Byline: James Kenny Richard Philbin has resigned from F&C Investments with immediate effect to join an entirely new business. Mr Philbin was head of fund of funds at F&C and had been with the company since 2001. It is thought he...

JPMorgan opens up fixed income European bonds to investors.
May 5, 2008... Byline: Oliver Shah JPMorgan Structured Fund Management has launched four exchange-traded funds based on the firm's proprietary European Monetary Union Government Bond index and NYSE Euronext's European market. The launches aim to...

Bear raids choke company value, researchers reveal.
May 5, 2008... Byline: Oliver Shah Bear raiding - the deliberate driving down of a stock's price by market rumour and short selling - can cause real damage to the value of the underlying company, according to a report from Oxford University's SaAi 1/2d...

Invesco broadens its horizons in Europe.
May 5, 2008... Byline: Oliver Shah Invesco Perpetual has launched a European High Income fund, which will look to deliver a yield of 6 per cent a year through the dynamic use of equities and bonds. The fund is to be run by co-heads of fixed income...

Barings shifts American Growth fund to Dublin.
May 5, 2008... Byline: Helen Burggraf Baring Asset Management is rolling its UK-domiciled GBP36.7m Baring American Growth Trust into a similar entity domiciled in Dublin, citing lack of interest in the product among UK investors. UK investors cannot...

iShares spots best tax rates for ETFs.
May 5, 2008... Byline: James Kenny Investors should look to ETFs in order to take advantage of favourable new tax rates, according to Barclays Global Investors' group iShares. The government's new tax regime, introduced on 6 April this year, has...

Beware of the inflation beast.
May 5, 2008... Byline: Martin Cholwill Cost-push inflation is once again rearing its ugly head and raising a number of different and potentially worrying questions for UK equity investments Inflation might have been dormant for many years, but once...

Moore works magic on Santander fund.
May 5, 2008... Byline: Oliver Good Rescue plan ditches multi-manager and slashes holdings to transform fund status Manager Richard Moore has turned around the performance of Santander's GBP1.1bn UK Growth fund after the firm opted to abandon the...

Gearing means mixed fortunes for investors.
May 5, 2008... Byline: Oliver Shah Ordinary income shareholders in Anthony Nutt's GBP93m Jupiter Dividend & Growth trust lost out last year, seeing their holdings fall 21.9 per cent on a total return basis. In contrast, zero dividend preference...

Cazenove tips Witan Pacific's strategy.
May 5, 2008... Byline: Oliver Shah The GBP125m Witan Pacific trust's healthy exposure to Japan has made it an attractive option for sterling investors despite the region's troubles, according to Cazenove Capital Management. At 35 per cent, Witan...

OECD consumer prices rise.
May 5, 2008... Byline: Oliver Shah Consumer prices in the OECD region rose by 3.5 per cent over the 12 months to March. The increase compared with 3.4 per cent for the year to February. Energy prices were up 13.3 per cent year-on-year in March, down...

Aifa backs FSA's interim report.
May 5, 2008... Byline: James Kenny The Association of Independent Financial Advisers has encouraged IFAs to continue dialogue with the FSA in light of the interim RDR report released last week. Key points made in the interim report included stopping...

L&G and Axa provide products for AWD platform.
May 5, 2008... Byline: James Kenny Legal & General, along with Axa, have been revealed among the product providers offering links on IFA firm AWD Chase de Vere's new platform. The platform, which was developed with Cofunds, will offer access to more...

IMA figures confirm lowest sales of Isas.
May 5, 2008... Byline: Helen Burggraf Sales of UK-domiciled fund Isas ended the tax year at their lowest level since Isas were first introduced in 1999, figures released last week by the Investment Management Association (IMA) have shown. The figures...

Barclays expands product range.
May 5, 2008... Byline: James Kenny Barclays Wealth is expanding its range of structured products with the launch of Commodity Select The new vehicle provides enhanced exposure to a broad basket of commodities, such as agriculture, energy and base...

OECD advocates lessons in finance for all consumers.
May 5, 2008... Byline: Helen Burggraf The Paris-based Organisation for Economic Co-operation and Development (OECD) is calling on governments and industry members to help to boost financial education and issue awareness among consumers. "We need to...

Credit Suisse converts Worldwide Growth fund.
May 5, 2008... Byline: Helen Burggraf Credit Suisse has converted its GBP17.18m Worldwide Growth fund into a global equity income product, after 97 per cent of its shareholders voted in favour of the change. The new product will be managed by a team...

Barings looks to traded-life policy exposure.
May 5, 2008... Byline: Oliver Shah Baring Asset Management's multi-manager team has expanded its use of alternatives, adding traded-life policy (TLP) exposure across its risk-rated funds. The $96m (GBP48m) EEA Life Settlements fund, run by...

"Fund managers should invest in the funds they run - you would expect them to have a stake in the business".(Interview)
May 5, 2008... Byline: Nick Rice Co-founder of PSigma Asset Management, Bill Mott, talks to Nick Rice about the prospects for the UK equity income sector, why the Bank of England should be cutting its rates now and momentum-driven activity versus the...

Witan trust board focuses on alpha.
May 5, 2008... Byline: Oliver Shah The board of the GBP1.2bn Witan investment trust has moved to a more active alpha-focused approach, appointing three new managers and cutting its enhanced index allocation. Following a review revealed by Investment...

Lipper data shows shares held for less than two years.
May 5, 2008... Byline: Helen Burggraf Lipper figures reveal annual turnover for equity funds is 56.6 per cent compared with 58.4 per cent last year Managers of UK unit trusts and Oeics are holding onto their shares for an average of just under two...

Akers to serve as coxswain to Blue Oar fund.
May 5, 2008... Byline: Catherine Neilan Blue Oar Asset Management (Boam) has appointed Adrian Akers as manager of its yet-to-be-launched fund, a European long/short equity vehicle. Mr Akers previously worked at Mercury Asset Management, where he was...

Henderson managers admit to taking too much risk.
May 5, 2008... Byline: Oliver Shah Henderson Global Investors multi-managers Bill McQuaker and Katy Gladstone have said they should have cut down risk further in the final quarter of 2007. The fund of funds specialists had reduced their equity...

Financial Risk launches Diversified Alpha fund.
May 5, 2008... Byline: Oliver Good Global fund of hedge funds group Financial Risk Management is to list its flagship Diversified Alpha fund on the London Stock Exchange. An initial public offering of shares in the closed-end fund of hedge funds will...

Threadneedle manager warns on headline inflation.
May 5, 2008... Byline: James Kenny Headline inflation across emerging markets remains a primary concern for Richard House, manager of Threadneedle's GBP88m Emerging Market Local Debt fund. Mr House said over the last six months he had consistently...

PSigma claims US will recover faster than UK.
May 5, 2008... Byline: James Kenny Manager says recent Fed measures should lower the odds of US recession The US market will emerge from the current market turmoil much quicker than its UK or European counterparts, a PSigma Asset Management manager...

Polar bares new fund on Irish stock exchange.
May 5, 2008... Byline: Helen Burggraf UK Absolute Return fund to invest predominantly in FTSE350 stocks and certain European and global equities London-based asset manager Polar Capital is launching an open-ended Dublin-domiciled fund on the Irish...

Waiting for the right moment.
May 5, 2008... Byline: Richard Mattison Rebated national insurance contributions - known as 'protected rights' - have now evolved into sophisticated instruments that are about to emerge into the daylight of self-investment The Thatcher government in...

Merrill Lynch range rebranded under BlackRock banner.
May 5, 2008... Byline: Helen Burggraf The Merrill Lynch Investment Managers' range of investment products was rebranded last week under the BlackRock banner, following the merger between MLIM and BlackRock in September 2006 and the subsequent approval of...

OBSR rates single-country funds.
May 5, 2008... Byline: Oliver Shah Old Broad Street Research has rated several single-country funds for the first time, in response to client requests for more specific emerging markets coverage. The GBP126.3m Jupiter China, GBP556.3m Gartmore...

Credit Agricole rolls out volatility vehicle.
May 5, 2008... Byline: Oliver Good Volatility World Equities fund to give exposure to equity market volatility in eurozone, North America and Asia Credit Agricole Asset Management has launched its Volatility World Equities fund, which is designed to...