FTAdviser.com

Gartmore plans overhaul of UK retail division

Story by: Stephen Wilmot, Investment Adviser

Firm claims flat sales and limited product development spurred decision to rebuild division.

• Time published: 00:01
• Date published: 30.06.2008
• Published in: Investments

Fund managers weathered the storm better, says PWC

The fund management industry has weathered the credit crunch better than any other financial services sector, according to a new report by PricewaterhouseCoopers.

• Date published: 30.06.2008

Plimsoll warns IFAs must adapt or face extinction

Industry analyst says advisors need to embrace technology and not expand beyond their means

• Date published: 30.06.2008

Plan to curb wage growth already failing, claims Axa

There are signs Mervyn King and Alistair Darling's efforts to keep wage growth under control are already being thwarted, Axa Investment Management has warned.

• Date published: 30.06.2008

Fidelity claims investors aren't keeping up with emerging markets

Investors are failing to keep pace with the growth of emerging markets, Fidelity International has claimed.

• Date published: 30.06.2008

Brown just outside bottom five in stock market returns league table

Gordon Brown has narrowly missed being in the bottom five prime ministers for stock market returns in his first year as leader since David Lloyd George took on the role in 1916, figures from Fidelity International have revealed.

• Date published: 30.06.2008

Barclays Wealth reissues Commodity Select plan

Barclays Wealth has reissued its five-year Commodity Select plan, which links to a basket of individual commodities split across energy, agriculture, base and precious metals.

• Date published: 30.06.2008

Funds of funds beat path back to UK corporate bonds

Managers claim higher yields and increased liquidity make UK corporate bonds attractive once again

• Date published: 30.06.2008

Abbey launches two structured products

Abbey has released two structured products, aiming to give investors exposure to equity markets without putting their capital at risk.

• Date published: 30.06.2008

Dow Jones Indexes launches two indices

Dow Jones Indexes and Stoxx have launched two indices that will serve as the basis for two ETFs.

• Date published: 30.06.2008

Ascentric raises interest rates on cash holdings

Wrap provider Ascentric has introduced three higher interest rates for investors holding cash on the platform.

• Date published: 30.06.2008

Assetz urges investors to snap up properties before prices plummet

Investors should take advantage of current steady stream of supply in the housing market, claims firm's chief executive

• Date published: 30.06.2008

SLIPIT introduces reduced fee on cash

Change from 1 July will see revised fee of 20 basis points for any cash holding of more than 10%

• Date published: 30.06.2008

Bluehone plans merger to reduce costs

Bluehone Investors plans to merge its £12m Aim VCT 1 into its £30m Aim VCT 2, in a bid to reduce administrative costs.

• Date published: 30.06.2008

AIC defends Channel Island's status to Treasury Select Committee

The Association of Investment Companies has written to MPs on the Treasury Select Committee, backing the Channel Islands' status as a financial centre.

• Date published: 30.06.2008

Insight ups bet on US smaller companies earnings downgrade

Insight Investment has doubled its bet on US smaller-company earnings downgrades in three of its multi-asset portfolios as it waits for the North American slowdown to bite.

• Date published: 30.06.2008

Skandia sheds light on multi-asset fund of funds

Skandia Investment Group has revealed details of the asset allocation and charges for its multi-asset Skandia Alternative Investments fund of funds.

• Date published: 30.06.2008

Time is not right for emerging market equities, says 7IM

Seven Investment Management has said its multi-manager funds are biding their time in emerging market currencies pending a possible equity opportunity in the sector over the coming months.

• Date published: 30.06.2008

BlackRock counts on a greener US president

The focus of the new energy market in 2008 is on the US presidential election, the chairman of BlackRock’s £181.9m New Energy Investment Trust has claimed.

• Date published: 30.06.2008

Reita survey shows advisers confused over recovery

Independent research has revealed "significant confusion" among advisers over when the commercial property market will recover, according to Reita.

• Date published: 30.06.2008

Harris hopes gold and ETFs will help portfolio

New Star Asset Management's Mark Harris is banking on investments in gold and low-cost ETFs to aid the turnaround of his £114m Tactical Portfolio.

• Date published: 30.06.2008

Cholwill warns unemployment will hit UK portfolios

Royal London trust manager says problems with financials will spread to wider economy

• Date published: 30.06.2008

Integrity plans launch of European fund of funds

Equity income fund of funds will aim to generate yield of 4.8 per cent

• Date published: 30.06.2008

Aegon's Fraser vows to ring the changes

Stuart Fraser rejigs portfolio with emphasis on larger cap bias in selected sectors

• Date published: 30.06.2008

M&G offers shareholders range of wind-up options

Investors in Income investment company given income, cash exit or open-ended options

• Date published: 30.06.2008

Investec looks to up weighting

Investec Asset Management is looking to up its developing world corporate credit weighting in its Emerging Markets Debt fund by the fourth quarter of this year, depending on market conditions.

• Date published: 30.06.2008

Skandia claims IFAs' use of online risk tools to increase

IFAs are expecting to significantly increase their use of online risk tools over the next 12 months, according to new research by Skandia Investment Group.

• Date published: 30.06.2008

OECD expresses fears over decline in mergers

The Organisation for Economic Co-operation and Development has said foreign direct investment from member states could fall to $1.14trn (£580bn) this year from a record $1.82trn in 2007 if the decline in merger activity continues.

• Date published: 30.06.2008

Seven Investment calls for 'big bang' to shake up asset management

Marketing director says actively managed UK funds industry should open up to benefits of competition

• Date published: 30.06.2008

DTZ sees sharp fall in property transactions

Global property transactions are expected to fall by 30 per cent in 2008, according to global real estate adviser DTZ.

• Date published: 30.06.2008

SocGen's Torry blames exit on culture change

Manager reveals he almost left firm when he lost control of US equity funds after period of underperformance and TCW deal

• Date published: 30.06.2008

SocGen argues US inflation has overly benefitted large caps

Société Générale has argued inflation in the US has disproportionately benefited large caps with overseas earnings.

• Date published: 30.06.2008

Schroders appoints Mena head

Schroder Investment Management has appointed Rami Sidani as head of its Middle East and North African portfolio management.

• Date published: 30.06.2008

IPD sees boost for timber returns

Returns from timber outstripped those from all major asset classes last year, according to index provider IPD.

• Date published: 30.06.2008

F&C claims fund houses can transform laggards into leaders

F&C Investments has highlighted the turnaround of performance on its £147m UK Growth & Income fund as proof fund houses can "transform" sector laggards into leaders.

• Date published: 30.06.2008

RWC appoints pair for new Asian fund

New fund will invest across entire region in bid to outperform MSCI Asia ex-Japan index

• Date published: 30.06.2008

Barings looks at caravan park fund

James Calder, who joined Barings as head of multi-manager in January, said he had been looking at the £35m Darwin Property portfolio run by Darwin Property Investment Management.

• Date published: 30.06.2008

Sanderson leaves M&G for Hermes Real Estate

Ben Sanderson, manager of M&G's £20m Global Real Estate Securities fund, has left the vehicle just two months after it launched to join Hermes Real Estate.

• Date published: 30.06.2008

Artemis alters process on SmartGarp funds

Quant tool SmartGarp process will remain unchanged, but funds investment process will change

• Date published: 30.06.2008

DDQ appoints Halford as sales manager

Dawnay Day Quantum has appointed Catherine Halford as sales manager responsible for clients in the Midlands, South West and parts of London.

• Date published: 30.06.2008

Global Bond produces below-median returns

The IMA Global Bond sector has failed to produce a single fund that has generated above-median returns in all discrete yearly periods over three years, according to Thames River Capital.

• Date published: 30.06.2008

Lloyd George looks to a greener China

Chief executive maintains environmental issues will be next major theme in Asia

• Date published: 30.06.2008

Baillie Gifford unveils emerging markets fund

Baillie Gifford has revealed full details of its Emerging Markets Bond fund, which will hold currencies and government debt from across the spectrum of the world’s developing markets.

• Date published: 30.06.2008

IFAs applaud Yerbury's decision to step down

Invesco's Bob Yerbury to continue his role as chief investment officer as James Robertson takes the reins

• Date published: 30.06.2008

RLAM's Kernohan says expenditure needs to slow to reduce inflation

Ian Kernohan, economist at Royal London Asset Management, has rebuffed arguments the UK government should boost public spending or cut taxes in the face of an economic slowdown.

• Date published: 30.06.2008

UBS includes three portfolios on FundsNetwork

UBS Global Asset Management has announced it has included three of its portfolios on Fidelity FundsNetwork as of 23 June.

• Date published: 30.06.2008

S&P downplays shift from Libor

Standard and Poor's has downplayed the benefits of shifting from a Libor to a sterling overnight indexed average (Sonia) benchmark, after Fortis Investments said it was considering a move from a Euribor to the euro overnight indexed average (Eonia).

• Date published: 30.06.2008

Virgin ponders long-only fund

Virgin Money is considering the launch of a long-only equity fund as part of a move to strengthen its burgeoning fund management range.

• Date published: 30.06.2008

Castlestone appoints Devlin to head up sales team

Alternative investments specialist Castlestone Management has appointed Jerry Devlin, the former head of mutual fund sales Baring Asset Management, to head up its sales team.

• Date published: 30.06.2008

Baillie Gifford brings Oeics onto Cofunds platform

Baillie Gifford is bringing 17 Oeics onto the Cofunds investment platform from 1 July.

• Date published: 30.06.2008

Midas downgrades profits and inflows

Firm stresses strong performance of each fund in UK Midas range and will not make further changes

• Date published: 30.06.2008

Invesco sells five assets in plan to cut borrowings

The £430m Invesco Property Income investment trust has sold five holdings for £22.89m, as part of its plan to cut borrowings and dispose of non-core allocations.

• Date published: 30.06.2008

Ashburton downplays importance of Olympics to China

Ashburton has dismissed the importance of the Olympics to the Chinese economy, stressing the chief concern still lies with inflation.

• Date published: 30.06.2008

IA journalist wins VCT award

Investment Adviser reporter Oliver Good was among the winners at this year’s AIC Awards, claiming the Best VCT Journalist prize.

• Date published: 30.06.2008

Schroders to launch European version of Korean fund

Schroder Investment Management is building on the success of its Global Emerging Market Equity Commodity fund with Korean investors by launching a version for the European market.

• Date published: 30.06.2008

O'Neill to take over distribution at RBS AM

Kate O'Neill, formerly head of pan-European distribution and hedge funds at Henderson Global Investors, will take over as head of distribution at institutional manager RBS Asset Management, according to the Royal Bank of Scotland division.

• Date published: 30.06.2008

Morgan Stanley to launch four structured products

Morgan Stanley has announced the launch of four structured products based around UK large caps, commercial property and Asia Pacific ex-Japan.

• Date published: 30.06.2008

WH Ireland appoints Ford at chief executive

WH Ireland has appointed a new chief executive as the firm seeks to expand its overall capabilities.

• Date published: 30.06.2008

OBSR suspends rating for SocGen fund

OBSR has suspended the rating for Société Générale Asset Management’s £52.3m Technology fund.

• Date published: 30.06.2008

UBS hires former Credit Suisse members for quant team

UBS Global Asset Management has hired seven former members of Credit Suisse's quantitative equities group to form a new active quant equities team.

• Date published: 30.06.2008

TUC calls for voting disclosure rules

The Trades Union Congress has renewed its call for the government to make it compulsory for UK fund managers to disclose how they cast votes in company meetings.

• Date published: 30.06.2008

Schroders launches emerging market commodity fund in Europe

Schroder Investment Management is building on the success of its Global Emerging Market Equity Commodity fund with Korean investors by launching a version for the European market.

• Date published: 27.06.2008

F&C highlights turnaround of UK Growth & Income fund

F&C Investments has highlighted the turnaround of performance on its £147m UK Growth & Income fund as proof fund houses can "transform" sector laggards into leaders.

• Date published: 26.06.2008

Torry blames change in culture for SGAM departure

Société Générale Asset Management's (SGAM) Alan Torry has cited the change in business culture as one of the main reasons for his departure from the firm and his £52.3m Technology fund.

• Date published: 25.06.2008

Timber returns outstrip major asset classes

Returns from timber outstripped those from all major asset classes last year, according to index provider IPD.

• Date published: 25.06.2008

Bluehone to merge Aim VCTs

Bluehone Investors plans to merge its £12m Aim VCT 1 into its £30m Aim VCT 2, in a bid to reduce administrative costs.

• Date published: 24.06.2008

Insight bets on US smaller company earnings downgrades

Insight Investment has doubled its bet on US smaller company earnings downgrades in three of its multi-asset portfolios as it waits for the North American slowdown to bite.

• Date published: 24.06.2008

Integrity launches European equity FoFs

Integrity Fund Managers is poised to launch a high-yielding European equity income fund of funds for the UK retail market.

• Date published: 24.06.2008

Advisers confused over commercial property market

Independent research has revealed "significant confusion" among advisers over when the commercial property market will recover, according to Reita.

• Date published: 24.06.2008

SLI Property Income Trust reduces fee on cash component

Standard Life Investments' Property Income Trust has introduced a reduced fee on the cash component of its portfolio, believing the manager will have high liquidity levels for a "reasonable time".

• Date published: 24.06.2008

Investors failing to keep pace with emerging markets

Investors are failing to keep pace with the growth of emerging markets, Fidelity International has claimed.

• Date published: 23.06.2008

Gordon Brown one of worst PMs for stock market returns

Gordon Brown has narrowly missed being in the bottom five prime ministers for stock market returns in his first year as leader since David Lloyd George took on the role in 1916, figures from Fidelity International have shown.

• Date published: 23.06.2008

Invesco Perpetual's Yerbury stands down as CEO

Invesco Perpetual's Bob Yerbury is to step down as chief executive officer (CEO) in September, but will stay on as chief investment officer.

• Date published: 23.06.2008