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Fund managers return to Europe as growth confidence improves
A net 45 per cent of portfolio managers - the highest since February 2011 - expect Europe’s economy to grow next year, according to June’s Bank of America Merrill Lynch European Fund Manager Survey.
Chelsea’s RedZone grows to £34bn in underperforming funds
Investors have over £34bn in underperforming funds, according to research by Chelsea Financial Services, with the amount held in the 10 worst offenders jumping by more than 70 per cent since the start of year.
Dean buys Rio Tinto and Barclays for Cazenove UK Opportunities
Julie Dean has started a position in Rio Tinto and added to banking group Barclays in her £1.8bn Cazenove UK Opportunities fund as she maintains a pro-cyclical business cycle tilt.
Raymond James launches bundled pricing model
Platform is charging a flat rate of 0.33 per cent including fund and share trades.
Tenet posts £4.5m loss and reveals PwC settlement
PwC took legal action against Tenet last year to recoup over £2m relating to collapsed network Berkeley Independent Advisers.
Standard Life's Gibbs favours UK bonds over Japanese
The global index-linked bond manager is concerned about Japan’s ability to meet inflation targets.
SVM's Veitch: Domestic cyclical plays are an 'all too easy narrative'
Neil Veitch avoids choosing stocks purely as cyclical plays on a UK recovery to focus on “appropriately priced” good businesses.
HMRC issues additional rebate tax guidance
HMRC confirms payments from fund managers to life companies are not taxable.
Canlife Total Return scales back equity exposure
The portfolio of the £10m CF Canlife Total Return fund has been tilted towards fixed interest, with the manager being critical of the the sustainability of equities.
BNY Mellon’s Tineke Frikkee to join Smith & Williamson
Smith & Williamson Investment Management has hired Newton manager Tineke Frikkee to work in its UK equity income fund.
Liontrust posts 240% jump in net inflows
Liontrust Asset Management saw net inflows jump by close to 240 per cent over the year ending 31 March 2013, with the amount of money run by the firm doubling.
Banking commission: FCA must cut costs and downsize
The banking commission wants the Treasury select committee to review the new regulatory structure in April 2016.
Banking commission: Scrap approved persons regime and create criminal offence for bankers
Parliamentary commission on banking standards’ final report wants a senior persons regime introduced.
Brooke builds BSkyB position in Trojan Income
Francis Brooke has started a position in British Sky Broadcasting in his £1.2bn Trojan Income fund as he looks to build a holding in the “powerful franchise”.
This week's Fund Strategy cover story
The dangers of the hunt for yield
The squeeze on yields has led to warnings of a bond bubble and fund managers are being forced to decide between holding cash and increasing portfolio volatility. Tomas Hirst reports
Blogs
Cazenove’s Le Jehan: Changing correlations, safe havens and portfolio hedges
The pullback in markets over the last few weeks was perhaps not unexpected but has highlighted a different trend to similar episodes in recent years – something that we’ve been discussing over the last few months, but appears to have caught some investors by surprise.
Philippa Gee: Quick-fix centralised investment processes could hurt everyone
It would be fair to say that centralised investment processes are receiving a fair amount of attention at the moment, from advisers, press and the regulator.
Leader: The risky pursuit of high-yield income
The good old hunt for income. It has been a perennial investment theme in the past several years and with good reason too.
M&G’s Vaight: Why I’m taking another look at China, Korea and Brazil
There is negative sentiment towards larger markets such as China, Korea and Brazil, but we believe investors’ concerns have been over-discounted.
Chris Gilchrist: Perhaps the market just isn’t efficient
In a recent column I outlined three types of response to the 2008 crash. Perceptive readers have noticed that I missed one out.
SVM’s Lawson: It’s all about the management
We have always stressed the importance of cashflow in our stockpicking at SVM, as it gives companies the great optionality to generate shareholder value. But equally key is the management team in place to use this cashflow.
Emma Simon: Unregulated investments will continue to trouble the industry
Unregulated investment schemes will continue to be a blight on the industry despite the FCA’s attempts to crack down
Lazard’s Ryan: Where to invest when inflation is rising
Central banks around the world are engaged in unconventional monetary policy on a massive scale. The end result of this is unclear.
IMA’s Morley-Smith: Europe needs to look beyond the FTT
Two weeks ago the press reported an apparent breakdown in the discussions between governments in the EU Council, and a subsequent large-scale watering down of the financial transaction tax proposals. I believe these reports are premature and there is no consensus on watering down.
City’s Coghill: FCA gets tough on conflicts of interest
The regulator returned to the issue of conflicts of interest last month, with a hefty fine and a ban for a non-executive director who failed to disclose a potential conflict between her directorships and consultancy business.
