Investment Adviser articles from September 2007

Investment Adviser archives from September 2007

Market jitters make North Atlantic trust a good option.
September 10, 2007... Share price volatility has created a good opportunity to buy into the AGBP167m North Atlantic Smaller Companies trust, according to Killik & Co. Analyst for the stockbrokers and investment managers, Mick Gilligan, said that despite the...

Developing a taste for luxury.
September 10, 2007... Byline: European investors are enjoying stellar returns and as such are now splashing out on the finer things in life The last three years have seen impressive performance from many of the world's major markets with upward momentum driven...

IFA opinions split on the FSA's look at multi-manager funds.
September 10, 2007... Byline: The rise in popularity of multi-manager funds has sparked a 'thematic exploration' of how they are sold For a few weeks now, the FSA has been conducting a fact-finding mission into how independent financial advisers sell...

Put your house in order.
September 10, 2007... Byline: While property investors have been enjoying healthy growth in the past few years, all this may change soon It is no surprise that property investment has represented a "rose among thorns" for many investors because of the healthy...

Sun rises for investors.
September 10, 2007... Byline: Japan has become the envy of income investors in low-yielding nations, as yields have hit 1.25 per cent It seems paradoxical that the world's second largest economy, rich in growth possibilities and cash, could feel unable to reward...

Identifying the true winners.
September 10, 2007... Byline: With such a wide range of global equity funds available, how are investors to spot the best of breed? Since the Russian and Asian crises of the late 1990s, the global equity outlook has undergone considerable scrutiny. After...

It's time for a change of tack.
September 10, 2007... Byline: The prognosis for the future is still not that good for the majority of managers with exposure to US equities While many commentators have viewed the US as a slowly deflating blimp of a market, the events of the past few weeks have...

The times they are 'a changing.
September 10, 2007... Byline: Investor sentiment in favour of Asian and Latin American markets continues as a result of turbulence in the US This August - with its sub-prime crisis and hedge fund woes - has been one to forget for many in global equities. But,...

We are not hunkered down hyper- defensively because to make a big bearish call is as risky as making a huge bullish call.
September 10, 2007... Q: Why should investors think about buying equities in these turbulent times? Paul D Ehrlichman: It is the best of times and the worst of times. Over the last year the market got itself wrapped up in another thematic momentum play that was...

Demographics for the future.
September 10, 2007... Byline: Young workforces in developing countries must be balanced against the aging Western populations China, India, and many other developing economies, though still disparately poor, grow at fantastic paces and possess youthful, eager...

Flight path to success with aged-based allocation.
September 10, 2007... Age-based asset allocation is a relatively new phenomenon for UK retail investors. Popular in the US and also in the world of UK defined contribution pensions, the concept offers the simple premise that by investing in a dynamic mix of assets...

T Rowe expands its Sicav.
September 10, 2007... launch T Rowe Price has added an African and Middle Eastern portfolio to its Luxembourg-domiciled Sicav range. The fund, which has a concentrated portfolio of between 25 and 50 stocks, will be available to institutional and retail...

Is it time to venture from comfort zone?
September 10, 2007... Byline: Should managers stick to 'core' Europe or move further afield? Debate rages on in the Europe ex UK sector over which countries provide the best investment opportunities. Managers often have to make the decision whether to stick to...

Going against the grain.
September 10, 2007... As we pointed out two weeks ago, the IMA's Europe ex UK sector is characterised by many of the same key performance drivers that affect UK equity funds. Namely, a large weight in industrials has helped, while exposure to large and giant cap...

Thinking laterally to generate further ideas.
September 10, 2007... Byline: SVM fund manager Hugh Cuthbert talks to Laura Mossman about how he concentrates on the stocks he knows and likes While many fund managers look to analysts, economists and researchers to help with stock selection, Hugh Cuthbert,...

More active and aggressive than the average fund.
September 10, 2007... Byline: Scottish Widows fund manager Alister Hibbert talks to Laura Mossman about restructuring the fund to make it more active The SW European Select Growth fund is one of the most active products available within the Scottish Widows...

Only the name has changed in switch to New Star.
September 10, 2007... Byline: New Star fund manager Nick Sheridan talks to Laura Mossman about the stock screening process he developed back in 2004 For Nick Sheridan, former director of European equities at Tilney, the last few months have been tumultuous to...

Outperforming regardless of market conditions.
September 10, 2007... Byline: S&F fund manager Frederique Carrier talks to Laura Mossman about striving to generate consistent but low-risk returns The Singer and Friedlander European Growth fund is characterised by its aim to generate consistent but low-risk...

Investors hit by steep managed sector TERs.
September 10, 2007... Byline: Active, Balanced and Cautious Managed peer groups top list of highest TERs charges Investors are paying over the odds for funds in the three Managed sectors, figures from Financial Express Analytics have revealed. Other...

Libor hits high point.
September 10, 2007... Byline: Credit problem concerns following sub-prime crisis pushes interbank lending rate up Economy Concerns over credit problems in the post sub-prime world of UK banking have forced the Libor rate to hit its highest level since...

Schroders and New Star take advantage of Nexus service.
September 10, 2007... wealth management New Star and Schroders are among the first managers to make funds available through Nexus Funds, part of Pershing's multi-asset platform, which allows private client wealth managers to buy and sell global funds. ...

Bestinvest loses staff after buyout.
September 10, 2007... A series of resignations has been sparked at BestInvest, including that of spokesman Justin Modray, following the appointment of a new chief executive and a private equity buyout. Mr Modray said Andrew Barnes's appointment last Dec-ember...

Top funds exclude US.
September 10, 2007... global equities Some of the top performing global financial funds are those which excluded the US because of an unfavourable macro view, according to Standard & Poor's. The analyst's review of the sector showed that funds run by...

'Independence' seen as essential in review.
September 10, 2007... Byline: FSA seeking to clarify retail distribution review due to misconceptions in industry regulation The FSA is looking to clarify the right balance between qualifications and on-the-job experience, following the fall-out from its...

First State raises charges on funds.
September 10, 2007... First State is the latest fund house to have raised its annual management charge, increasing its fee to more than 1.5 per cent. The group has announced that from 29 October, the AMC for the retail share classes on its AGBP877m Asia Pacific...

Big names fall among worst five performers.
September 10, 2007... Byline: Financial Express Analytics' data finds funds failing over volatility and consistency Performance M&G's AGBP274.3m UK Income fund, Legg Mason's AGBP25.2m UK Income fund and JPMorgan Asset Management's AGBP48.7m UK Equity...

T Bailey waives fees on new fund.
September 10, 2007... Nottingham-based fund of funds specialist T Bailey has waived the initial fees on its new fund. The 5 per cent charge on the retail class of its new UK Best Ideas fund will be dropped until 31 December. IFAs will still receive 0.75 per...

Investors not put off Asia by volatility, says Barings.
September 10, 2007... Investors are not being put off Asia despite the volatility that has hit markets around the world, Barings has said. Although there are still concerns that US sub-prime crisis could lead to a global downturn, Henry Chan, head of Baring...

Wastcoat relinquishes reins.
September 10, 2007... move Fidelity International has confirmed that its UK managing director is stepping down from his role of head of investments at the end of this month. Richard Wastcoat, who has been with the company for 24 years, will continue at the...

Natixis Global rolls out four new funds.
September 10, 2007... Byline: French company looks to break into UK with range of high yield and global funds launch Natixis Global Associates, created by the merger of French-owned companies Ixis Asset Management and Natexis Asset Management last year, is...

Chow seventh manager at Axa Framlington gilt fund.
September 10, 2007... Philip Chow is the latest manager to be appointed to the AGBP12m Axa Framlington Gilt fund. Mr Chow is the seventh manager of the fund in seven years, following Laurent Hirsh, Richard Peirson, Chris Murphy, Neil Sutherland, Gareth Isaac,...

Bouyant outlook in emerging markets.
September 10, 2007... Consumer spending and infrastructure are the two key themes that will keep global emerging markets buoyant over the next three years, Scottish Widows Investment Partnership has said. However, the group highlighted the importance of fund...

JPMorgan launches new index.
September 10, 2007... Byline: Benchmark rolled out in conjunction with Liffe to track the performance of Europe's top 50 recently listed companies launch JPMorgan today launched a futures benchmark that allows investors to follow the performance of Europe's...

Standard Life hires Kelly as director.
September 10, 2007... Standard Life Investments has hired Jack Kelly as investment director of its fixed income team. Mr Kelly, who began work with SLI last week, was previously a senior portfolio manager with ABN Amro, where he managed portfolios for clients...

Threadneedle set to make its mark with rebranding.
September 10, 2007... Threadneedle is about to embark on what it describes as a major rebranding project, in an attempt to better engage with its target investment audience. The rebranding, which includes a new advertising campaign and logo redesign, is part of...

Abbey launches linked plan.
September 10, 2007... Abbey has announced the launch its six-year 50 per cent Growth Plan, which is linked to the FTSE100 index. If the index rises by any amount at the end of its full term, the plan will pay back 50 per cent on the initial investment. Should...

Property leaps back to top 10.
September 10, 2007... Byline: Lipper data reveals property strongest performer during August property by Susan Butterworth Property funds reaped some of the strongest returns in August in contrast to the previous month when they dominated the poorest...

Investors prove their green credentials as Climate Change Capital raises AGBP135m.
September 10, 2007... Investors have shown a continued interest in ethical investments with Climate Change Capital announcing its clean energy private equity fund has raised AGBP135m during its IPO. The company's Private Equity fund attempts to exploit...

T Bailey says ethical returns may not last.
September 10, 2007... Byline: Multi-manager warns on future, despite survey finding funds ethical Multi-manager T Bailey is warning investors that the strong performance of ethical funds may not last. Latest figures from the IMA show sales of ethical...

Skandia reveals best ideas line-up.
September 10, 2007... launch by Catherine Neilan Skandia Investment Management has revealed the manager line-up for its latest best ideas fund in the run up to launch on 19 September. The portfolio includes names such as George Luckcraft of Axa...

Investors urged not to panic on volatility.
September 10, 2007... Investors are in danger of making a big mistake by selling out of equities as a result of the market turbulence, JPMorgan Asset Management has said. The fund house has warned that the response of exiting investments because of increased...

Schroders sets up Mid East fund for growing economies.
September 10, 2007... Schroders has launched a Middle East fund in order to capitalise on some of the world's fastest-growing economies. The vehicle, which went live in Hong Kong last Monday, is being managed by James Gotto and will invest in a portfolio of...

Prepare for new rules, says AIC.
September 10, 2007... Byline: Trade body to publicise revised rules for listed investment trusts regulation by Susan Butterworth The Association of Investment Companies is urging its members to prepare for changes to the listing regime that will take...

Ucits III: the mutual fund velvet revolution.
September 10, 2007... While not immediately apparent, the mutual fund industry has been undergoing a quiet transformation as the full impact of the Ucits III regulations are felt. Once the privy of the large institutional investor base and hedge fund industry,...

Arc to lay foundations for wealth management unit.
September 10, 2007... acquisition Arc's acquisition of adviser Throgmorton Asset Manage-ment is making preparations to start a wealth management division, the group has said. Arc Fund Management announced it had bought the Leicester-based IFA for AGBP2.7m...

FSCS offers help after 21 companies default.
September 10, 2007... Investors have been told they may claim up to AGBP48,000 if they lost money dealing with any of the 21 firms declared in default by the Financial Services Compensation Scheme. The FSCS, which is the UK's statutory fund of last resort for...

Multinationals best placed to persevere.
September 10, 2007... market forecast Internationally orientated companies are far more likely to weather the volatility in the market than their insular counterparts, BlackRock has said. While those companies with an international remit had a median...

Skandia's third Best Ideas fund prepares for launch.
September 10, 2007... Byline: UK Strategic Best Idea fund, to go live on 19 September, will allow managers to take up to five short positions launch Skandia Investment Manag-ement has revealed further details of its new long-short best ideas funds, which...

Sale of direct Sipps up.
September 10, 2007... sipps Investors may be bypassing intermediaries and buying self-invested personal pensions without taking appropriate advice, Sipp providers have warned. Research sponsored by James Hay revealed one in eight Sipp providers conduct a...

Beringea backing Coal chain of high-street restaurants.
September 10, 2007... Private equity firm Beringea is backing Coal Restaurants through the ProVen VCT and ProVen Growth & Income VCTs. The VCT manager has invested AGBP1.7bn to support the chain's expansion plans. Coal currently has one restaurant in...

Possible US rate cut a disaster.
September 10, 2007... economy Cutting interest rates by 100 basis points in the US would be an "absolute disaster", according to Neptune Investment Management, despite a senior US economist's recommendation. Signs from across the Atlantic indicate that a...

FSA rubber-stamps advice.
September 10, 2007... regulation Trade associations, professional bodies and firms will now be able to seek formal confirmation for the guidance they need to give their members. Last week, the Financial Services Authority took another step in its move...

Dawnay Day cleared for distributor status.
September 10, 2007... Byline: Investment house's AGBP19.1m fund authorised by the FSA to be marketed in the UK launch Dawnay Day Quantum has received distributor status for its AGBP19.1m UK Absolute Income fund, allowing it to be marketed to onshore...

7Ci launches high yield no-risk fund.
September 10, 2007... Seven Continent Investment has launched a range of financial instruments, which it claims offers investors a high yield, "no- risk" investment vehicle in the property industry. The 25 per cent Guaranteed Return plan offers the investor...

MitonOptimal and Iimia now added to Cofunds.
September 10, 2007... Cofunds has opened its doors to two multi-manager specialists, by making funds from Miton-Optimal and Iimia available on its platform. The Miton range includes the AGBP39.9m Miton Cautious Income, the AGBP89.7m Miton Special Situations, and...

Collins Stewart takes on six to boost profile.
September 10, 2007... Byline: Stockbroker hires across the board to bolster Jersey-based wealth management team recruitment Collins Stewart has boosted its Jersey-based wealth management team with six new appointments. The Channel Islands-based wealth...

Appointments.
September 10, 2007... Independent partnership Parmenion Capital Partners has further boosted its sales team with the appointment of Mark Bonehill, former regional sales manager of Selestia. His appointment comes hot on the heels of the appointment of Paul Miles, the...

UK Synapse shuts down due to severe illiquidity.
September 10, 2007... Byline: Hedge fund backed by beleaguered German bank closes despite lack of exposure to sub-prime problems hedge funds Illiquidity has forced yet another hedge fund to close, despite a lack of exposure to the tainted sections of the...

Credit Suisse offers discount on Multi Asset fund charges.
September 10, 2007... Credit Suisse is offering a full initial charge discount on investments for its recently-launched Multi Asset Distri-bution fund. IFAs can take either full commission or a combination of commission and a discount on the fund, which launched...

Zagame moves to Skandia.
September 10, 2007... MAnager change Francois Zagame has defected from Insight Investments and joined Skandia as head of its 20-strong UK equity research team. Mr Zagame had been employed at Insight Invest-ments for four years and was involved in fund...

Noble raises AGBP87m.
September 10, 2007... VCTs Noble Fund Managers has ended the initial fund-raising period for its second venture finance fund, the Noble Venture Finance II, with just AGBP13m of equity to reach the target for the fund, AGBP100m. If this last amount is...

Thames River bolsters arsenal with five funds.
September 10, 2007... Byline: The five long-only funds will be co-managed by Gary Potter and Robert Burdett launch Thames River is to launch five long-only multi-manager funds for the reassembled team headed up by Gary Potter and Robert Burdett. The...

Bull market set to keep running.
September 10, 2007... Byline: SVM says comparisons with the Great Depression are unwise market forecast The bull market is set to continue, thanks to continued global growth. Neil Veitch, manager of the group's AGBP93.4m UK Opportunities fund, said...

Infrastructure funds play big role in Tilney strategy.
September 10, 2007... Construction Infrastructure is to play an increasingly important role in asset allocation, according to Tilney Private Wealth Management. The group has added the recently-launched Macquarie Global Infrastructure Securities fund to its...

Rule 26 bodes well for Aim investors.
September 10, 2007... The recent introduction of Rule 26 will be positive for investors as well as the companies, according to F&C manager Catherine Stanley. The rule states that companies listed on Aim are now required to maintain corporate websites detailing...

Sir Anthony reappointed by FSA for second term.
September 10, 2007... The Financial Services Authority has reappointed Anthony Holland as the independent Complaints Commissioner for a second term. The Complaints Commiss-ioner is responsible for investigating complaints against the FSA, and plays a key role in...

How are absolute returns achieved?
September 10, 2007... The main methods of achieving absolute returns can be separated into two broad headings: multi-asset strategies and long/short strategies. This week, we look at the latter. Absolute return funds typically make use of "shorting" strategies...

Keystone is fully geared as manager states confidence.
September 10, 2007... Invesco manager Mark Barnett is retaining his gearing levels as close to his maximum allocation as possible, despite recent market volatility. Mr Barnett runs Invesco's AGBP180m Keystone Investment Trust and AGBP580m Perpetual Income &...

Fund of hedge funds outperform equities.
September 10, 2007... Byline: Good short-term performance, but fund of hedge funds only beat bonds in long term fund of funds Fund of hedge funds have outperformed pooled UK equity, property and UK bond managers over the last quarter, according to BNY...

Investors are now more 'green' savvy.
September 10, 2007... Investors are no longer being duped by groups attempting to "greenwash" their products, F&C has said. Hilary Aldridge, co-manager of the group's AGBP872.83m Stewardship Growth and AGBP404.29m Stewardship Income funds along with Ted Scott,...

Henderson Global sets dividend record.
September 10, 2007... Byline: City of London trust ups its dividend for 41st time after taking defensive stance results Henderson Global Investor's AGBP718m City of London Investment Trust has increased its dividend for the 41st year in a row. As a...

Market volatility is 'good for property'.
September 10, 2007... The property sector is trading at an average discount of 7.5 per cent, compared with a discount of just 1 per cent last year, according to the Association of Investment Companies. The sector, which has been the fastest growing investment...

Revera plans launch of its 'go anywhere' Chameleon fund.
September 10, 2007... launch Edinburgh-based investment boutique Revera Asset Management is preparing to launch a "go anywhere" Oeic. The Chameleon fund, which is likely to go live before the years' end, will be run by Steven Grant, former manager of the...

Thames River team to focus on boutiques.
September 10, 2007... Byline: Reunited line-up shows interest in smaller fund groups and investing in new talent performance The long only team at Thames River is keen to continue the reputation it developed in its previous two incarnations at Rothschild...

Strategy & process.
September 10, 2007... Art of point-scoring helps to fine-tune selection The move to Thames River has given Rob Burdett, Gary Potter and the rest of the multi-manager team the opportunity to make tweaks to their fund selection process, which they had not been...

India's economy 'on very strong footing'.
September 10, 2007... Byline: Level of economic activity on the rise due to higher earnings and continuing growth asia India will continue to be a long-term secular growth story, according to Fidelity International. The asset management house said that...

Selftrade launches four lifestyle funds.
September 10, 2007... Retail stockbroker Selftrade has launched four fund packages designed to meet investors' different lifestyle objectives. The packages, called Income, Balanced Growth, Global Growth and Opportunities, come with a standard allocation mix...

Hargreaves sees its profits rise despite market jitters.(Financial report)
September 10, 2007... Financial adviser Hargreaves Lansdowne has announced a 67 per cent rise in profits to AGBP40.7m for the year ending in June, but has warned of uncertainty ahead. The IFA firm's revenue climbed by 34 per cent to AGBP98.8m in its first...

Sarasin snaps up two Morley team leaders.
September 10, 2007... Byline: Boutique firm takes on Thompson and Clark to boost expansion of Ucits lll range recruitment Boutique firm Sarasin Chiswell has poached Morley's heads of distribution in the hope of strengthening its retail arm by adding to its...

Resolution launches new Europe funds.
September 10, 2007... fund launch Resolution Asset Management is to launch two funds for its restructured European equities desk in October, following the overhaul of its AGBP112m European Growth fund. The Resolution International Pan-European fund will...

Vaughan takes up lead role.
September 10, 2007... manager appointment Dan Vaughan is to take the helm as lead manager of the AGBP166.5m Threadneedle UK Smaller Companies fund following the departure of Bill Barker to Pictet Asset Management. He will also step into Mr Barker's former...

What fund managers were very keen on was not having a Big Brother telling them exactly when and how to invest.(Company overview)
September 10, 2007... Investment Adviser: What is JOHCM's current investment policy and how have you shaped it? Nichola Pease: JOHCM was founded in 1993. It started as a specialist investment boutique with some investment trusts primarily. When I joined JOHCM in...

Richest race ahead while labour stays still.
September 10, 2007... Byline: US income volatility has grown, but trading with emerging countries is not the reason It is fairly widely accepted that in the aggregate trade generates gains and promotes economic growth but it can also create winners and losers....

Base rate hold signals future cut by MPC.
September 10, 2007... The Monetary Policy Committee's decision to maintain interest rates at 5.75 per cent could signal a move to soon drop rates, Axa Investment Managers has said. In a statement the MPC stressed that its key mandate was to ensure that...