Investment Adviser articles from May 2009

Investment Adviser archives from May 2009

Henderson delays New Star merger.
May 4, 2009... Byline: Stephen Wilmot Company postpones fund consolidation to retain stability and investor confidence Henderson Global Investors has postponed the full rationalisation of the New Star and Henderson retail fund ranges until early...

Western Asset to launch Global Blue Chip fund.
May 4, 2009... Byline: Rob Langston Legg Mason subsidiary Western Asset Management is to launch a new Global Blue Chip fund that will form part of its Dublin-domiciled Legg Mason Global fund range. The new fund, which is awaiting approval from...

Privalto launches Millenium Tracker fund.
May 4, 2009... Byline: James Kenny Privalto, a fund management arm of BNP Paribas, has launched the Privalto Millenium Tracker fund to offer UK investors a cost-efficient way to benefit from a new quantitative absolute return strategy. The new...

Witan IT increases its UK exposure.
May 4, 2009... Byline: James Kenny Witan Investment Trust has made a number of changes to its portfolio by investing in new funds and increasing the trust's overall gearing from zero to 6 per cent to add to its UK exposure. The trust deployed the...

Schroders to launch first retail currency fund.
May 4, 2009... Byline: Nick Rice Schroder Investment Management is launching its first retail currency fund in the summer. The fund house has hired Clive Dennis from Morgan Stanley to run the product. Mr Dennis will report to Geoff Blanning, head of...

Fortis Holding shareholders approve Fortis Bank sale.
May 4, 2009... Byline: Nick Rice Fortis Holding shareholders last week approved the sale of Fortis Bank to BNP Paribas as speculation mounted as to how Fortis Investments might be merged with BNP Paribas Investment Partners. Investors are still...

Diary: Even swine flu has an upside.
May 4, 2009... Byline: Rob Langston As swine flu spreads like a rash across newspaper headlines, another pandemic is hitting the Investment Adviser email inbox: the response. While nations across the world take precautions against the virus, fund...

Diary: Give peace a chance.
May 4, 2009... Byline: Rob Langston The Houses of Parliament can be an intimidating place at the best of times. The seat of governmental power carries centuries of pomp and tradition - and it is home to many a sleaze-smeared politician. But en route...

Diary: Pride and prejudice.
May 4, 2009... Byline: Rob Langston The Headlinemoney awards for journalists and PRs often turn out to be raucous affairs, with the financial services industry descending upon London's West End. Congratulations were in order for Investment Adviser's...

Stellar abandons Albanian fund.
May 4, 2009... Byline: Rob Langston Stellar Asset Management has abandoned its Albanian property fund after the development work stopped on its only planned investment. A spokesman for the company said fundraising had stopped after the development...

Diary: If the shoe fits ...
May 4, 2009... Byline: Rob Langston The sale of Fortis to BNP Paribas has stoked up much tension, with investors becoming increasingly dissatisfied with the senior management of the Belgian-Dutch financial group. Chairman Jozef de Mey was lucky to...

EU directive divides industry.
May 4, 2009... Byline: James Kenny Aima claims mandate was rushed through, while the IMA welcomes the possiblity of more open market under new regime Industry bodies are at odds over the European Commission's new directive on alternative investment...

Outside Edge: Dynamism and danger.
May 4, 2009... Byline: Martin Wood The technology bubble that peaked in March 2000 and then went on to lose 80 per cent of its value will not have endeared investors to this sector. Since then, after something of a recovery in 2003-04 and a further...

Merger will see 300 jobs go.
May 4, 2009... Byline: James Kenny More than 300 jobs, and the Clerical Medical brand, are to go once the merger of the sales teams of Clerical Medical and Scottish Widows goes through on July 1 The move will see 305 jobs lost from across the sales...

S&W mulls shutting fund.
May 4, 2009... Byline: Nick Rice Smith & Williamson is debating whether to close the Dublin-based version of its Multi-Manager Global Investment fund as multi-managers reverse a trend of taking UK portfolios offshore. Angus Duncan, director and head...

Baillie Gifford changes benchmark.
May 4, 2009... Byline: Rob Langston Baillie Gifford has confirmed plans to change the benchmark of its Overseas Bond fund after deciding to change the mandate to include UK gilts. Philip Annen, manager of the GBP68.9m fund, said the change was...

DWS to launch Sicavs in UK.
May 4, 2009... Byline: Rob Langston German mutual fund manager DWS Investments is to launch a new 10-fund Sicav range into the UK retail market. The mutual fund arm of DWS Asset Management received FSA approval last month for the range, which...

Chuo looks to launch funds in UK.
May 4, 2009... Byline: Rob Langston Chuo Mitsui, the second-largest institutional manager in Japan, has signalled plans to launch Ucits III retail funds in the UK after appointing Canadian adviser Canaccord Adams to hunt out potential acquisition...

Keydata launches IFA educational website.
May 4, 2009... Byline: Dominic Welling Keydata Investment Services has launched a website for IFAs offering educational content and marketing aids for investment professionals, as well as an online valuation service. The new online valuation service...

Bulstrode moves to Skandia.
May 4, 2009... Byline: Gemma Westacott Skandia Investment Group has hired Marc Bulstrode from Barclays to take up the post of chief commercial and finance officer. In his new role, Mr Bulstrode will be accountable for the overall commercial...

Navigant sees pattern in UK wrap platforms.
May 4, 2009... Byline: Rob Langston Company's research finds advisers can be divided into four distinct categories Patterns are beginning to emerge in the way financial advisers use wrap platforms in the UK as more advisers begin to reassess their...

Better times ahead?
May 4, 2009... Byline: Hugo Greenhalgh At last, a hint of green shoots. According to the IMA, March sales figures for UK-domiciled fund Isas hit GBP321m this year - up from GBP47.5m last year. Investors are returning to the market. And so they...

St James's Place to hire 100 advisers.
May 4, 2009... Byline: Dominic Welling St James's Place is set to hire an additional 100 advisers to its business over the course of next year, according to chief executive David Bellamy. Currently, the wealth management group employs 1,340 client...

Investors to vote on funds' future, says Cru.
May 4, 2009... Byline: Sharon Flaherty Investors in the suspended Arch Cru fund range are likely to have the opportunity to vote on what happens to the funds in the future, Cru Investment Management has said. Currently, Capita Financial Management,...

Raise standards, urges ICAEW.
May 4, 2009... Byline: Dominic Welling An independent professional standards board is integeral to returning consumer confidence in financial services, the Institute of Chartered Accountants in England and Wales Financial Services Faculty has said. ...

UK mid-cap rally will not last, says Invesco.
May 4, 2009... Byline: Nick Rice Portfolios benefiting from performance headwind, says firm The recent UK mid-cap rally is unsustainable due to over-optimistic economic forecasts from investors, according to the product director for UK equities at...

Budget worst of all time, says Cazenove.
May 4, 2009... Byline: Nick Rice Current deficit could have been reduced by more than a third, says CEO Cazenove Capital Management has slated the Budget as "the most shocking of our lifetime" after Henderson Global Investors expressed "real...

Fidelity expects dividend growth.
May 4, 2009... Byline: James Kenny Investors who have been crestfallen by endless dividend cuts in recent months can look forward to one-third of FTSE 100 companies growing dividends over the next three years, according to Fidelity International. ...

Jump into convertibles, urges JPMorgan.
May 4, 2009... Byline: James Kenny Now is the time for investors to dive into convertibles while they offer good value, according to Olivia Mayell, client portfolio manager for convertibles at JPMorgan Asset Management. Ms Mayell acknowledged that...

Evershed joins Hargreave Hale.
May 4, 2009... Byline: Rob Langston Former New Star fund manager Patrick Evershed has joined Hargreave Hale as a manager of private client business. Controversy surrounded Mr Evershed's departure from New Star last year, which left Trevor Green in...

City Spin: Simon O'Connor.
May 4, 2009... Byline: Rob Langston Simon O'Connor is head of products and marketing at Lincoln Financial Group Favourite tipple or wine? Real ale or red wine, but definitely not lager. I used to drink lager and I don't know when it was that I...

OBSR drops Ignis Corporate Bond fund.
May 4, 2009... Byline: Rob Langston OBSR has withdrawn the A rating for the Ignis Corporate Bond fund and taken it off its service, after initially suspending its rating in December. The fund's evaluation was first suspended after Joe McKenna,...

Columbus talks up commodity openings.
May 4, 2009... Byline: Rob Langston The recent fall in commodity prices should prompt investors to examine what type of fund they invest in, according to wealth manager HFM Columbus. Rob Pemberton, investment director, said a number of opportunities...

From here to down under in search of racy Riesling.
May 4, 2009... Byline: Feargus O'Sullivan As German and Alsatian Rieslings are among my favourite wines, I've always been a little sniffy about Australian attempts to mimic them. Riesling grapes are notoriously fey things prone to mediocrity when...

Expert View: ETFs prove useful to multi-managers.
May 4, 2009... Byline: Daniel McAllister Gold rallied to a three-week high of $910 an ounce last week after China made a surprise move to double its gold reserves. This would have been music to the ears of those multi-managers who had used exchange...

Apollo points to potential for bull market.
May 4, 2009... Byline: Nick Rice Multi-manager house Apollo Multi-Asset Management has questioned whether recent rallies constitute the start of a new bull market after emerging economies led a broad surge in March. Tom McGrath, Steve Brann and Craig...

Albion hails post-Budget boost for VCTs.
May 4, 2009... Byline: Nick Rice One VCT promoter says inquiries were already unusually high for this stage of the tax year Outperforming VCTs have been piquing investor interest since the Budget reduced higher-rate tax relief on pensions, managers...

News Analysis: Is this the shape of things to come?
May 4, 2009... Byline: Nick Rice Settling transactions can be lengthy and costly. Has one firm finally found the answer? The arcane world of fund dealing rarely makes headlines. Asset managers seldom discuss it in public. Yet moving money into and...

Zeros gain relevance, says Smith & Williamson.
May 4, 2009... Byline: Nick Rice Changing investment conditions favour funds of zeros, reports company Funds of zeros are becoming more relevant in the age of structured products and 18 per cent capital gains tax rates, according to Smith &...

Threadneedle sees green shoots in US stocks.
May 4, 2009... Byline: James Kenny Even though recovery srtill a long way off, positive signs can be seen in US economy, company says An overall return to normality is still some way off for US stocks, although many companies are beginning to show...

Emerging market property on the rise, says S&P.
May 4, 2009... Byline: James Kenny While property stocks and Reits in the developed world continue to take a beating, emerging market property as a sector is improving, according to a recent sector report by Standard & Poor's Index Services. S&P...

Fitch says FoHFs are performing well.
May 4, 2009... Byline: James Kenny The massive deleveraging of portfolios that occurred last year may have finally helped hedge funds and funds of hedge funds to turn around their performance, Fitch Ratings claimed last week. In its latest industry...

Philip Coggan: The dire consequences of Darling's plans.
May 4, 2009... Byline: Philip Coggan Chancellor's Budget will have nightmarish results while not affecting the deficit much The headlines may be fading from memory, but the ramifications of Britain's dog's breakfast of a Budget will be around for...

New fund for Legg Mason Global range.
May 4, 2009... Byline: Rob Langston Legg Mason subsidiary Western Asset Management is to launch a Global Blue Chip fund that will form part of its Dublin-domiciled Legg Mason Global fund range. The new fund, awaiting approval from European...

European stocks back in favour, say market experts.
May 4, 2009... Byline: Rob Langston Individual stocks that suffered in the economic downturn are showing good value, according to analysts Investors are beginning to revisit areas of the European market that have been neglected in the recent past as...

Threadneedle says no more departures planned.
May 4, 2009... Byline: Nick Rice Threadneedle said no other departures were planned on its revised emerging markets desk after Katy Dobson opted to step down as manager of its Latin America fund. The firm has fused its global emerging markets and...

JPMAM unveils bond fund.
May 4, 2009... Byline: Nick Rice JPMorgan Asset Management has further profited from its parent's takeover of Bear Stearns a year ago with the launch its new global Strategic Bond fund. The onshore portfolio will employ "a number of key...

IMA records growth in UK funds' AUM.
May 4, 2009... Byline: Dominic Welling Assets under management lower than a year ago, but increased over past month Assets under management for UK-domiciled funds increased by 2 per cent between February and March to reach GBP347.9bn, according to...

Capita notes upswing in private reinvestment.
May 4, 2009... Byline: Sharon Flaherty Private investors became more aggressive in February and March, pumping GBP800m back into UK equities and doubling their total reinvestment since the autumn, according to Capita Registrars. The company's latest...

Fortis appoints Elkhouly to infrastructure fund.
May 4, 2009... Byline: Jim Robinson Fortis Investments has appointed Wael Elkhouly as head of asset management for its Global Infrastructure fund. Fortis said Mr Elkhouly - who has more than 15 years' experience in infrastructure, spread across the...

Interest in Bric funds growing, say experts.
May 4, 2009... Byline: Rob Langston Economies showing signs of decoupling from developed markets, says Allianz Low correlation to western, developed economies and strong performance in the current market is helping Bric funds attract more investors,...

Focus: Investment trusts.
May 4, 2009... Byline: Mike Woodward Investment trusts can have particular benefits for the longer-term, more adventurous investor looking to secure a child's future Sometimes it is easy to resent the baby-boomer generation. Not content with being...

JO Hambro chairman and co-founder dies aged 62.
May 4, 2009... Byline: Rob Langston Richard Hambro, chairman and co-founder of JO Hambro Investment Management, has died from cancer at the age of 62. Mr Hambro, who had a long background in the financial services industry, was also director at the...

Julius Baer to bring Energy Transition to UK.
May 4, 2009... Byline: Jim Robinson Julius Baer plans to bring its Energy Transition fund to the UK to take advantage of rapid changes taking place in the sector worldwide. The company said the decrease in fossil-fuel reserves, combined with the...

US stocks show signs of recovery.
May 4, 2009... Byline: James Kenny An overall return to normality is still some way off for US stocks, although many companies are beginning to show signs of recovery, according to Cormac Weldon, head of US equities at Threadneedle. Weldon said even...

Analysts welcome interest in green funds.
May 4, 2009... Byline: Rob Langston Investors turn to range of choices in infrastructure, energy and water industries Last month's 'carbon Budget' from Alistair Darling and the election of Barack Obama as US president have prompted many investors to...

New chapter in Principle boardroom debacle.
May 4, 2009... Byline: Rob Langston The ongoing boardroom saga at Principle Capital Investment Trust has taken another twist after Brian Myerson regained control of the board following a second EGM. Following the meeting at the end of last month, the...

Multi-Manager: Strategies.
May 4, 2009... Byline: Hugo Greenhalgh Some managers have sought to take advantage of opportunities thrown up by a depressed equities market, while others have remained more cautious It is a simple - perhaps even obvious - strategy, but one that has...

3i looks at new issue of equity.
May 4, 2009... Byline: Rob Langston Private equity investment trust 3i Group has confirmed it is considering a possible issue of new equity as it looks at options for raising finance in the current environment. The board issued a statement to the...

Analyst: Baillie Gifford.
May 4, 2009... Byline: Stephen Wilmot Baillie Gifford senior partner Edward Hocknell talks to Stephen Wilmot about the company's unique operations Edward Hocknell, a senior partner at Baillie Gifford, says the company "has trouble with strategies" at...

Interview: Schroder Investment Management's Karl Dasher.
May 4, 2009... Byline: Stephen Wilmot Schroder Investment Management's head of fixed income, Karl Dasher, talks to Stephen Wilmot about looking at the broader picture to prepare for whatever the markets hold Karl Dasher, the new head of fixed income...

IMA urges asset managers to vote down boards.
May 4, 2009... Byline: Nick Rice The chairman of the IMA has told asset managers to "put a body on the street" if necessary to provoke company boards into engaging with the concerns of their shareholders. In a speech to the CFA Society of the UK,...

Aberdeen closes first stage of Credit Suisse acquisition.
May 4, 2009... Byline: Rob Langston Aberdeen Asset Management has completed the first stage of its takeover of the Credit Suisse businesses since announcing the acquisition last year. The company applied for the listing of 32.5 million new shares...

Schroders to launch first retail currency fund.
May 4, 2009... Byline: Nick Rice Schroder Investment Management is launching its first retail currency fund in the summer. The fund house has hired Clive Dennis from Morgan Stanley to run the product. Dennis will report to Geoff Blanning, head...

Mid-cap rally branded unsustainable.
May 4, 2009... Byline: Nick Rice The recent UK mid-cap rally is unsustainable due to over-optimistic economic forecasts from investors, according to the product director for UK equities at Invesco Perpetual. Mitchell Fraser-Jones said FTSE 250...

Patterns emerge in advisers' use of wrap platforms.
May 4, 2009... Byline: Rob Langston Patterns are beginning to emerge in the way financial advisers use wrap platforms in the UK as more advisers begin to reassess their business plans, according to new research. Research from Navigant Consulting said...

Time is right to dive into convertibles: JPMAM.
May 4, 2009... Byline: James Kenny Now is the time for investors to dive into convertibles while they offer such good value, according to Olivia Mayell, client portfolio manager for convertibles at JPMorgan Asset Management. Mayell acknowledged that...

Commodity investors could soon be in strong position.
May 4, 2009... Byline: Rob Langston The recent fall in commodity prices should prompt investors to examine what type of fund they invest in, according to wealth manager HFM Columbus. Rob Pemberton, investment director, said a number of opportunities...

Emerging market property on the rise: S&P.
May 4, 2009... Byline: James Kenny While property stocks and Reits in the developed world continue to take a beating, emerging market property is on the up, according to a recent sector report by Standard & Poor's Index Services. S&P said its global...

Investment view: Start of a new bull market?
May 4, 2009... Byline: Nick Rice Multi-manager house Apollo Multi-Asset Management has questioned whether recent rallies constitute the start of a new bull market after emerging economies led a broad surge in March. Tom McGrath, Steve Brann and Craig...

Investment view: Funds of zeros more relevant.
May 4, 2009... Byline: Nick Rice Funds of zeros are becoming more relevant in the age of structured products and 18 per cent CGT rates, according to Smith & Williamson Investment Management. Portfolios investing predominantly in zero-dividend...

Economic downturn in west leading investors to Bric funds.
May 4, 2009... Byline: Rob Langston Low correlation to western, developed economies and strong performance in the current market is helping Bric funds attract more investors, according to fund managers. The recent economic downturn primarily...

Green investments "come of age".
May 4, 2009... Byline: Rob Langston Last month's 'Carbon Budget' from Alistair Darling and the election of Barack Obama as US president have prompted many investors to look at the opportunities within infrastructure, energy and water industries,...

Deleveraging helps hedge funds in performance u-turn.
May 4, 2009... Byline: James Kenny The deleveraging of portfolios and other moves made last year may have finally helped hedge funds and funds of hedge funds (FOHFs) to turn around their performance, according to Fitch Ratings. In its latest...

3i considers issuing new equity.
May 4, 2009... Byline: Rob Langston Private equity investment trust 3i Group confirmed it is looking at a possible issue of new equity as it looks at new options for raising finance in the current environment. The board issued a statement to the...

JPMorgan launches global Strategic Bond fund.
May 4, 2009... Byline: Nick Rice JPMorgan Asset Management has profited from its parent's takeover of Bear Stearns a year ago to launch its new global Strategic Bond fund. The onshore portfolio will employ "a number of key professionals from the...

Further departures unlikely after Dobson leaves Threadneedle.
May 4, 2009... Byline: Nick Rice Threadneedle said no other departures were planned on its revised emerging markets desk after Katy Dobson left as manager of its Latin America fund. The firm has fused its global emerging markets and Asian equities...

Myerson regains control of Principle Capital board.
May 4, 2009... Byline: Rob Langston The ongoing boardroom saga at Principle Capital investment trust has taken another twist after Brian Myerson regained control of the board following a second EGM. Following the meeting at the end of last month, the...

Julius Baer to bring Energy Transition to the UK.
May 4, 2009... Byline: Jim Robinson Julius Baer plans to bring its Energy Transition fund to the UK to take advantage of rapid changes taking place in the sector worldwide. The company said the decrease in fossil-fuel reserves, combined with the...

JO Hambro IM founder Richard Hambro has died.
May 4, 2009... Byline: Rob Langston Richard Hambro, chairman and co-founder of JO Hambro Investment Management, died on Saturday, at the age of 62. Hambro, who has a long-term background in the financial services industry, was also director at...

Investment view: Cazenove slams Budget.
May 4, 2009... Byline: Nick Rice Cazenove Capital Management has slated the Budget as "the most shocking of our lifetime" after Henderson Global Investors expressed "real concerns" the Treasury's deficits may be revised upwards, saddling investors with...

Focus: RDR Networks.
May 4, 2009... Byline: Keith Richards With all the uncertainties a post-RDR landscape will bring, there is a growing recognition of the benefits networks offer to advisers The future of networks has been greatly debated within the industry press over...

Multi-Manager: The struggle for positive returns.
May 4, 2009... Byline: Laura Hughes Multi-manager funds in the IMA Cautious and Balanced Managed sectors have been badly affected by the recent misfortunes of their underlying funds The IMA Cautious and Balanced Managed sectors have long been a...

Industry Voice: Temptation in troubled times.
May 4, 2009... Byline: Richard Abbey Several major fraud cases have hit the headlines since the beginning of the year. Increasingly, institutional and private investors alike have been genuinely surprised to find out the perpetrators have been trusted...