Investment Adviser articles from September 2008

Investment Adviser archives from September 2008

Harewood offers steady income fund.
September 1, 2008... Byline: James Kenny Harewood Solutions, a subsidiary of BNP Paribas, has launched its new Platinium Absolute Return fund to give investors a steady income in the changing markets. The fund, which is subject to regulatory approval, will...

F&C looks to launch absolute return fund.
September 1, 2008... Byline: James Kenny & Anna Lawlor F&C Investments is mooting the idea of launching a new absolute return portfolio to compete with BlackRock's GBP1.4bn UK Absolute Alpha fund. The new vehicle, which is currently being tested, would be...

UK Equity Income sector remains tops.
September 1, 2008... Byline: Gail Moss The UK Equity Income sector retained its spot as the best-selling peer group on the Fidelity FundsNetwork platform during July, according to figures from the fund supermarket. However, UK Money Market funds increased...

Brazil 'back-tracks' on rights of shareholders.
September 1, 2008... Byline: James Kenny F&C chief says recent moves are setback for country's rising reputation in capital markets F&C Asset Management and other European and US fund managers have lobbied the Brazilian market regulator to increase...

Eggs in one philosophical basket.
September 1, 2008... Byline: Stephen Wilmot Threadneedle's Alex Lyle runs a "traditional, balanced" fund with returns twice the sector average, at nearly 13% The GBP650m Threadneedle Equity & Bond fund does what it says on the tin. In a sector increasingly...

India's oil imports offer investor opportunities.
September 1, 2008... Byline: Gail Moss A "seismic shift" in India's energy position will provide abundant opportunities for investors, according to Sam Mahtani, manager of the F&C Indian Investment Company. Mr Mahtani said the subcontinent's rapid...

BlackRock favours companies exposed to fast-growing parts of economy.
September 1, 2008... Byline: Gail Moss Mike Prentis, manager of the BlackRock British Smaller Companies investment trust, has said he currently favours companies exposed to the faster-growing parts of the global economy. He said the weakness of sterling is...

OBSR hires new researchers.
September 1, 2008... Byline: Paul Burgin Old Broad Street Research has appointed three new members to its research team, bringing its total number to 15 staff. Diane Earnshaw has moved over as senior investment research analyst to work on both research and...

China to avoid post-Olympic slowdown.
September 1, 2008... Byline: Paul Burgin China will avoid the downturns suffered by other recent Olympic host nations, says Pinakin Patel, Far East client portfolio manager at JPMorgan Asset Management. Most of the $40bn (GBP21.8bn) cost of the games went...

Barclays launches lower risk products.
September 1, 2008... Byline: Imran Khan Barclays Wealth is launching a range of new 'lower risk' investment products The Protected FTSE Plan offers investors 1.5 times the rise in the FTSE100 index up to a maximum return of either 27 per cent for the...

Leading IFA slams industry disarray.
September 1, 2008... Byline: Gail Moss and Nick Rice Hargreaves Lansdown says it wins customers from IFAs who have not treated them fairly The IFA industry is "in complete disarray", but firms that follow TCF should win bigger market share, Peter...

Fidelity offers CashManager Account.
September 1, 2008... Byline: Gail Moss Fidelity FundsNetwork is offering a new CashManager Account as part of its platform service The account is currently offering base rate less 0.4 per cent (currently 4.6 per cent) for deposits up to GBP14,999, and...

Threadneedle diversifies into higher-risk investments.
September 1, 2008... Byline: Gail Moss The managers of the GBP650.1m Threadneedle Equity & Bond Fund are diversifying the fund away from gilts into higher-risk investments. Alex Lyle, who runs the fund with Sarah Arkle, said: "We have been adding to...

Midas fund loses touch.
September 1, 2008... Byline: Paul Burgin The managers of the GBP506.6m CF Midas Balanced Growth fund have been pushing into deep value and defensive territory after the fund almost hit the bottom of its sector over one year. Over 12 months to 18 August,...

Punter Southall buys IFA.
September 1, 2008... Byline: James Kenny Independent financial advisory company Punter Southall Financial Management has acquired Surrey-based IFA firm City Assurance Consultants. The acquisition of City Assurance, which was completed for an undisclosed...

7IM queries market-timing strategies.
September 1, 2008... Byline: Imran Khan Managers can no longer ensure the success of market-timing strategies after recent energy and currency fluctuations, according to a report by Seven Investment Management. The asset manager warned no definitive...

Premier hires hedge fund expert.
September 1, 2008... Byline: James Kenny Thames River Capital's Chris Wright hoped to use Ucits III knowledge to make dvidend fund 'more sexy' Premier Asset Management has hired Chris Wright from Thames River Capital to run its GBP8.4m Premier Dividend...

Skandia to alter charging structure.
September 1, 2008... Byline: Paul Burgin Skandia is to change its fund platform charging structure to allow for the introduction of customer-agreed remuneration The move is part of a package of measures coming into effect over the next 12-18 months. These...

Celebrate yourself by all means, just don't drag the rest of us along with you.
September 1, 2008... Byline: Hugo Greenhalgh I remember the shoe-gazing music scene of the early 1990s - not an admission I often make in public. What you had to do was quite simple: dance while not really moving and staring at your shoes. It went on for...

Nucleus makes customer friendly changes.
September 1, 2008... Byline: Gail Moss Nucleus, the online wrap platform, has announced a number of technical enhancements. Nucleus said it has introduced easier registration for IFAs and better navigation. There is also an increased intranet capability...

Standard Life launches FTSE-linked plan.
September 1, 2008... Byline: Gail Moss Standard Life has launched a new investment option available through individual, group and wrap Sipps Capital Guaranteed Plus is a one or two-year term plan offering growth linked to the performance of the FTSE100,...

Investec launches set of plans.
September 1, 2008... Byline: Gail Moss Investec Structured Products has launched a third set of plans, including accumulation, investment and income vehicles The accumulation series consists of the Guaranteed 3 Year FTSE100 Plan 3 and Guaranteed 5 Year...

IFA reaction: New products.
September 1, 2008... Byline: Imran Khan Depressed markets and risk aversion have spelled doom for many established managers. As product launch season approaches this autumn, the question in many IFAs' minds is: do we really need any more funds? Imran Khan asks...

First outflows since January shock analysts.
September 1, 2008... Byline: Paul Burgin July unit trust sales experience near-record underperformance Net Oeic and unit trust sales in July were the second-worst ever, according to the IMA's monthly statistics. Net sales of onshore retail funds...

Cofunds platform offers Tactica funds.
September 1, 2008... Byline: Imran Khan Tactica Fund Management's three multi-asset funds are now available through the Cofunds platform. The portfolios offer intermediaries cautious, balanced and growth strategies, with access to global equities, fixed...

US growth 'less than 2%'.
September 1, 2008... The US economy will grow at between 0 and 2 per cent for several quarters, BlackRock has said. According to Bob Doll, vice chairman and chief investment officer for global equities, such an underperforming environment is likely to cause...

Spa rebalances stock.
September 1, 2008... Byline: Paul Burgin Spa ETF has rebalanced its quant-based US stock index MarketGrader 100, removing Berkshire Hathaway, Microsoft and Exxon Mobil. Financials have been slashed from 13 per cent to 5 per cent and information technology...

Energy shares and commodities gap widens.
September 1, 2008... Byline: Paul Burgin One of the largest discrepancies in 12 years has emerged between energy shares and energy commodities, according to Investec Asset Management. Mark Lacey and Jonathan Waghorn, global energy portfolio managers, said...

The chance of a lifetime to be left out in the cold.
September 1, 2008... Byline: Laura Mossman For those who have dreamed of leaving the rather stuffy confines of office life in financial services behind, Matrix Group is offering someone a chance of an adventure of a lifetime, braving -35'C temperatures and...

Chefs take a fresh approach to a 'slice of the action'.
September 1, 2008... Byline: Stephen Wilmot It is not often businesses put pride and tradition before the bottom line. They regularly claim to support culture and heritage, of course, but mostly as part of branding campaigns designed to secure higher...

Live a little.
September 1, 2008... Byline: Hugo Greenhalgh What happens in times of turmoil? People panic. And what happens when people panic? Invariably they lose money. Consider the latest round of depressing statistics from the IMA. Isa sales are radically down from...

JO Hambro taps into Japan's new dividend culture.
September 1, 2008... Byline: James Kenny New Japan Select Fund is to profit from the country's growing sensitivity to shareholder rights JO Hambro Capital Management has launched a Japan Select Fund to take advantage of the region's emerging dividend...

F&C calls Northern Rock collapse one-off.
September 1, 2008... Byline: Gail Moss Northern Rock's dramatic collapse is unlikely to be repeated by other UK banks, according to Ted Scott, manager of the GBP125.8m F&C UK Growth & Income Fund. Mr Scott said: "Northern Rock was an isolated case, and its...

Insight hires return strategies specialist [- replacement].
September 1, 2008... Byline: Daniel McAllister Insight Investment has appointed Sonja Uys as its product specialist for absolute return strategies. Ms Uys will be focusing on boosting Insight's activities and presence in the absolute return sector and will...

S&P survey predicts bleak outlook.
September 1, 2008... Byline: Imran Khan The UK economy is gloomy and slipping into recession, a Standard & Poor's survey of fixed interest managers found last week. Managers at US bond giant Pimco said Western central banks had raised rates too sharply and...

Are the suits jumping on the pink bandwagon?
September 1, 2008... Byline: Anna Lawlor While Britons hunker down to weather a chilly economic climate, the power of the pink pound seems as buoyant as ever - or so Credit Suisse seems to believe. With a distinct sound of pin-stripe suited men clamouring...

Property First launches vulture fund to buy up repossessed property.
September 1, 2008... Byline: James Kenny Team aims to take advantage of best buying opportunity in the UK market in 40 years Property First Asset Management has become the latest house to launch a vulture fund to take advantage of the beleaguered property...

Parents lose out on GBP242m a year, claims website.
September 1, 2008... Byline: Imran Khan Parents lost out on GBP242m of child trust fund tax efficiencies during 2008, according to Unbiased.co.uk The GBP242m could have been saved if only a half of the accounts had received their maximum funding. Last...

Aegon tells FSA to overhaul consumer financial advice.
September 1, 2008... Byline: Daniel McAllister Aegon UK has submitted a raft of proposals to the FSA for overhauling consumer financial advice. Aegon's 18-month consumer research project identified five advice concepts that it urged the FSA to adopt as...

Small US firms surge ahead of bigger rivals, Threadneedle reveals.
September 1, 2008... Byline: Daniel McAllister Small US companies have outperformed their larger US corporate counterparts over the last three months, Threadneedle has revealed. The asset manager showed the small-cap Russell 2000 index climbed over 0.1...

Rate cut now more compelling: Ward.
September 1, 2008... Byline: Gail Moss The persuasive case for cutting UK interest rates is much more compelling than suggested by official figures, according to Simon Ward, chief economist at New Star Asset Management. The Bank of England has delayed...

US economy dodging the bullet.
September 1, 2008... Byline: Tony Lanning is head of multi-manager at Gartmore As US presidential candidate Barack Obama jousts with John McCain over the "mental recession" soundbite coined by one of the latter's former campaign co-chairs, there is reason...

Arc launches water utility plan.
September 1, 2008... Byline: James Kenny Arc Capital & Income has launched its first utility-based structured product. The Arc H2O Plan has a six-year term and offers 1.25 times the growth of the S&P Global Water Index over the period. Chris Powell,...

F&C trust posts healthy return.
September 1, 2008... Byline: James Kenny Higher oil prices boosts trust's holdings in oil rig market leader Viking Moorings The F&C Private Equity Trust said it posted a healthy 9.4 per cent total return over the first half of 2008, despite focusing on...

To leave or not to leave.
September 1, 2008... Byline: Hugo Greenhalgh There is a debate whether investors should really approach volatile markets with a short-term approach - and indeed what constitutes 'short-term' Questions have been raised recently over whether short-termism...

More gilt issuances will hit corporate sector.
September 1, 2008... Byline: Jim Leaviss, head of retail fixed income at M&G Fiscal help for British consumer will lead to more government borrowing - with consequences What will higher government borrowing mean? Steeper gilt yield curves as long-dated...

Promising Eastern prospects ahead.
September 1, 2008... Byline: Mark Monson is a senior fund manager at Raiffeisen Capital Management Both China and India look extremely attractive to investors in the long term After having played subordinated roles for decades, the economies in China and...

All the riches of India.
September 1, 2008... Byline: Ian Beattie Protected from the slowdown, and with a fast-growing economy, rising infrastructure spending and ever-increasing domestic consumption, India looks like a compelling long-term investment case Financial markets have...

Dexion reports shares tumble.
September 1, 2008... Byline: Daniel McAllister Guernsey-based investment trust Dexion Absolute painted a gloomy economic outlook as it reported falling performance in its interim results last week. The trust saw the net asset value of the company's...

Energy and mining still good bets, says JP Morgan.
September 1, 2008... Byline: Daniel McAllister Natural resources manager Ian Henderson says volatlity no proof that commodities bull market at an end Energy and mining stocks are the cheapest for a decade and the investment case for the sector remains...

Local emerging market debt records best month in five years.
September 1, 2008... Byline: Nick Rice Local emerging market debt had its best month in the last five years in July, according to Investec Asset Management. The asset class returned 6.2 per cent as the oil price dropped, mitigating concerns about...

Japanese real estate underperforms.
September 1, 2008... Byline: Nick Rice Contagion from the US financial crisis has spread to Japanese real estate, according to the managers of the closed-end Prospect Japan fund. John Hawkins, chairman of the board, said the portfolio's NAV had suffered...

Worth keeping Georgia on your mind.
September 1, 2008... Byline: Coggan While developed country politics has a limited impact on the market, portfolios are affected by the actions of Chavez and Putin For all the fuss that is made about electoral politics, it has remarkably limited impact on...

Managers will find their skills on trial.
September 1, 2008... Byline: Laura Mossman Cautious managed funds are a testbed for optimal asset allocation in troubled times The central strategy of funds within the IMA Cautious Managed sector is to exploit a multi-asset style to maximise returns. ...

IMA hits out at Ucits IV cross-border plans.
September 1, 2008... Byline: Daniel McAllister Industry body calls on European Commission to drop dual-control proposals The IMA has slammed the European Commission's plans for state control of cross-border fund management as part of Ucits IV proposals....

Alliance Trust in new model fund supermarket launch.
September 1, 2008... Byline: Nick Rice Business development manager Malcolm Dodds wants to 'boost range of open-ended funds' Alliance Trust Savings has launched a new fund supermarket with what it has hailed as a unique commission rebate model. The...

Paraplanners are 'seriously underutilised'.
September 1, 2008... Byline: Gail Moss IFA firms need more paraplanners to keep them in profit and the advice market healthy, according to a firm of chartered financial planners. Sheriar Bradbury, managing director of Bradbury Hamilton, said:...

AJ Bell promotes Richard Taylor to managing director.
September 1, 2008... Byline: Daniel McAllister Richard Taylor has been promoted to managing director of AJ Bell Pensions, taking on the newly created role at the firm. Mr Taylor, who was previously legal and technical director, will be responsible for AJ...

Radicle Projects invests in organic fruit schemes.
September 1, 2008... Byline: Gail Moss Radicle Projects, the Aim-quoted company set up to acquire and manage Australian agribusiness assets, has bought stakes in two further managed investment schemes for GBP1.9m. Both projects involve apple production and...

Liontrust calls for 'level playing field'.
September 1, 2008... Byline: Gail Moss Liontrust Investment Funds has called for the creation of a level playing field in the UK Equity Income sector. The IMA has already threatened to remove funds from the sector if they do not meet its yield requirement...

Julius Baer keeps up campaign on UK market.
September 1, 2008... Byline: James Kenny Swiss investment house gives UK investors access to Local Emerging Bond fund Swiss wealth manager Julius Baer is continuing its blitz on the UK market by making its $1.82bn (GBP981m) Local Emerging Bond fund...

Innovation amid the caution.
September 1, 2008... Byline: Martin Wood Within recent memory equity markets around the world were strutting their stuff, but in the past year the performance has degenerated into a kind of St Vitus's Dance, in which nobody can tell what the next move is...

Managers hail buying opportunities in trusts.
September 1, 2008... Byline: Nick Rice Multi-managers have hailed a buying opportunity in investment trusts while discounts to NAV remain wide in some sectors. Andrew Yeadon, head of multi-manager at Schroders, said high-quality trusts in areas such as...

Barclays appoints Rostron as head of retail product.
September 1, 2008... Byline: James Kenny Barclays Wealth Management has named Thomas Rostron as managing director and head of retail product for its investment and product office. Mr Rostron will oversee the delivery and coordination of investment...

Swip Select Boutiques fund outperforms downturn.
September 1, 2008... Byline: Nick Rice The GBP2.8m Scottish Widows Investment Partnership (Swip) Multi-Manager Select Boutiques fund has used a special capital protection technique to outperform the downturn, according to the asset manager's fund of funds...

Julius Baer offers Local Emerging Bond fund to UK investors.
September 1, 2008... Byline: James Kenny Swiss wealth manager Julius Baer is continuing its blitz on the UK market by making its $1.82bn (GBP981m) Local Emerging Bond fund available for UK investors. The fund is Luxembourg-domiciled and managed by Paul...

Collins Stewart funds add healthcare stocks.
September 1, 2008... Byline: Nick Rice Collins Stewart Fund Management's multi-manager, multi-asset funds are adding healthcare stocks as a longer-term defensive play. Collins Stewart now has 3 per cent in healthcare in International Growth fund and 2 per...

Radicle Projects expands with two new acquisitions.
September 1, 2008... Byline: Gail Moss Radicle Projects, the Aim-quoted company set up to acquire and manage Australian agribusiness assets, has bought stakes in two further managed investment schemes for GBP1.9m. Both projects involve apple production and...

Defaqto welcomes stability.
September 1, 2008... Byline: Nick Rice Defaqto has hailed a period of stability in the multi-manager industry following manager moves, product launches and market turbulence. In the latest issue of multi-manager guide Blending Talents, Fraser Donaldson,...

Collins Stewart adds health stocks.
September 1, 2008... Byline: Nick Rice Collins Stewart Fund Management's multi-manager, multi-asset funds are adding healthcare stocks as a longer-term defensive play. Collins Stewart now has 3 per cent in healthcare in International Growth fund and 2 per...

Swip employs protection technique to beat downturn.
September 1, 2008... Byline: Nick Rice Team seeks outperformers with absolute return mindset without looking to churn managers The GBP2.8m Swip Multi-Manager Select Boutiques fund has used a special capital protection technique to outperform the downturn,...

Back to basics with a shoebox approach.
September 1, 2008... Byline: Anna Lawlor When Diary thinks of private banks it is usually for their superior bespoke client services delivered with up-to-the-nanosecond technology. However, one Dutch investment bank, Nsinger de Beaufort, is going back to...

Credit crunch creates topsy-turvy world.
September 1, 2008... Byline: Anna Lawlor In a bleak investment climate, sectors previously considered risky, such as Emerging Markets, Japan and Specialist enjoy popularity as pessimism hits traditional safe havens Britons have enjoyed a prolonged period...

Emotion takes over in times of stress.
September 8, 2008... Byline: Ian Lance The economic slowdown and sentiment have combined to create a situation where valuations are virtually irrelevant for investors While valuation and fundamentals can generally be regarded as the bedrock of long-term...

Insight prepares next absolute return push.
September 8, 2008... Byline: Nick Rice Insight Investment is looking to launch a mass retail version of its inhouse European absolute return strategy. The strategy is already part of its tried-and-tested Absolute Insight range under head of alternatives...

Take care with cautious.
September 8, 2008... Byline: Chris Traulsen Investors should use care in selecting a cautious managed fund. Part of the issue is the liberal definition of "cautious" used by fund trade association. In this case, funds are allowed to have up to 60 per cent...

Resolution fired up for rebranding.
September 8, 2008... Byline: James Kenny The new asset management business composed of Resolution Asset Management and Axial Investment Management has been unveiled as Ignis Asset Management. The new GBP75bn venture will come into force in November and act...

Family Investments forges deal with Post Office for Isas.
September 8, 2008... Byline: Jim Robinson Family Investments has announced an exclusive partnership with Post Office Financial Services to provide customers with both cash and stocks-and-shares Isas, which will now be available through the company's...

Fidelity FundsNetwork launches tax wrapper analyser.
September 8, 2008... Byline: Jim Robinson Fidelity FundsNetwork has launched a tax wrapper analyser to help financial advisers to determine which tax wrappers best suit their clients' investment needs. The launch follows a survey conducted by FundsNetwork...

Apcims ups hedge fund weightings.
September 8, 2008... Byline: Imran Khan The Association of Private Client Investment Managers and Stockbrokers has increased the weighting of hedge funds in its asset allocation indices. Apcims said it made the adjustments due to hedge funds' increased...

Threadneedle appoints Devine as chief operating officer.
September 8, 2008... Byline: Nick Rice Threadneedle has appointed John Devine as its chief operating officer. Mr Devine will be charged with Threadneedle's support services, comprising IT, operations, compliance, strategy, human resources and finance. Mr...

Mobius remains upbeat over Thailand.
September 8, 2008... Byline: Nick Rice Mark Mobius, manager of the Templeton Emerging Markets investment trust, has dismissed the significance of recent protests in Thailand, saying the country still makes long-term investment sense. Mr Mobius said...

Hendersons aims for the top with new team.
September 8, 2008... Byline: Nick Rice MD says new team will push company further up go-to list for retail Henderson Global Investors has announced a new chief investment officer and head of equities following the appointment of Andrew Formica as chief...

F&C and RAM seal property merger.
September 8, 2008... Byline: James Kenny F&C Investments has completed the merger of its UK and Ireland property operations with Reit Asset Management. The new merger was announced as completed last week following an EGM by shareholders two weeks ago. ...