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City Financial in talks for UK retail business

Story by: Nick Rice, Investment Adviser

City Financial is in discussions to buy another UK retail fund business, according to its chief executive.

• Time published: 00:01
• Date published: 28.07.2008
• Published in: Investments

Credit markets fall further in June

Soaring commodity prices and central bankers’ growing hawkishness have combined to push credit markets even lower in June, wiping out the gains made since mid-March, according to FRM Credit Alpha.

• Date published: 28.07.2008

Lipper predicts UK fund growth will slow, but will still outpace rest of Europe

Growth in the UK funds industry will slow over the next five years, but it will still outpace nearly every other European country, according to Lipper Feri.

• Date published: 28.07.2008

New Earth and Premier team up for recycling fund

Waste treatment company New Earth Solutions has teamed up with Premier Group to create a recycling fund, giving investors access to the growing green sector.

• Date published: 28.07.2008

Fees no guarantee of performance, claims Grant Thornton

Fund managers who charge performance fees are no more likely to do better than those who do not and have in fact slightly underperformed their non-fee-charging peers, according to new research by accountancy firm Grant Thornton.

• Date published: 28.07.2008

Corporate governance on the up in emerging Europe

Corporate governance is improving in emerging Europe despite recent tussles over Russian natural resource majors, according to Baring Asset Management's investment trust team.

• Date published: 28.07.2008

Future looks bright for Reits

Standard & Poor's claims low value and high yields will entice investors back into Reits market

• Date published: 28.07.2008

New platform will enable IFAs to create Sicavs, says KMG

Company expects asset managers and IFAs who set up funds to run them as FoFs or outsource management

• Date published: 28.07.2008

Octopus launches new VCT service

Octopus, the leading VCT provider in the UK, has launched a new VCT portfolio service that aims to generate an average total return of more than 10 per cent a year.

• Date published: 28.07.2008

Pictet adds sterling classes sub-funds

Range of long-only products increased to meet UK retail demand

• Date published: 28.07.2008

Fitch forsees consolidation among CLO managers

Fitch Ratings has predicted consolidation among managers of collateralised loan obligations following difficulties in the European leveraged loan market.

• Date published: 28.07.2008

Occam moves into UK retail with Ucits III pair

Products will focus on Aisa and Europe and firm says funds should be up and running by September

• Date published: 28.07.2008

Rathbones predicts short-term bounce

If the market manages to rally in the coming months, it will be nothing more than a short-term bounce, according to Julian Chillingworth, chief investment manager at Rathbone Unit Trust Management.

• Date published: 28.07.2008

Towergate plans to expand with £100m to spend on new IFAs

Newly launched IFA firm Towergate Financial is planning to expand its business aggressively by spending £100m on acquiring regional IFAs.

• Date published: 28.07.2008

Barclays Wealth rolls out three-year version of Super Tracker

Barclays Wealth has launched a new three-year version of its Super Tracker to meet growing demand for short-dated structured products.

• Date published: 28.07.2008

Barings adds to Mena positions in search for alpha

Baring Asset Management's multi-manager team has been adding to its Mena positions as a wave of money floods into the area.

• Date published: 28.07.2008

Nucleus appoints technology officer

The strengthening of Nucleus Financial Group’s executive team continued apace after the IFA-owned wrap platform announced that it has appointed Andrew Smith as chief technology officer.

• Date published: 28.07.2008

Unicorn chief executive Peter Webb resigns from company

Chief executive who helped found fund house departs following exit of managing director Peter Walls, who left in March

• Date published: 28.07.2008

Batterymarch fund awarded AA rating

The recently launched Batterymarch Emerging Markets Equity fund, part of the Dublin-domiciled Legg Mason Global Funds range, has been awarded AA rating from Standard & Poor’s.

• Date published: 28.07.2008

Lazard hires Williams for strategic role

Lazard Asset Management announced that it has hired Rory Williams as its new strategic alliances manager.

• Date published: 28.07.2008

James Hay adds SLI funds to platform

James Hay has added two Standard Life Investments funds to its wrap platform - the £27.2m UK Equity Income Unconstrained and the £198.1m UK Equity Unconstrained.

• Date published: 28.07.2008

Buy, sell discipline is key to success: RLAM

Himsworth says sticking to stocks he knew paid off during volatility

• Date published: 28.07.2008

New Star's Deptford looks to shake up assets in quest for performance

New Star's Charles Deptford, new manager of the £252m Equity Income Unit Trust, is planning a rigorous asset shake up as he looks to boost the underperforming fund's fortunes.

• Date published: 28.07.2008

Arc rolls out two structured products

Arc Capital & Income has launched back into the structured product market with two new offerings, the Fixed Income Plan 7 and the Bull & Bear Enhanced Investment Plan.

• Date published: 28.07.2008

Insight reveals growth of structured notes in fund

Structured notes have grown to a quarter of Insight Investment's £243.3m Diversified Target Return fund, the company said.

• Date published: 28.07.2008

Insinger blames Nurs for its offshore move

Portfolio manager says Nurs did not allow company to make large allocations to open-ended FoHFs or funds not recognised by the FSA

• Date published: 28.07.2008

F&C agrees to purchase Reit for £60m

New firm will be called F&C Reit Asset Management and will focus on commecial property in the UK and Europe

• Date published: 28.07.2008

S&P publishes mid-cap roster

Standard and Poor's has published its annual Global Challengers roster of top up-and-coming mid-cap companies.

• Date published: 28.07.2008

Sants expresses regret over handling of Northern Rock

Hector Sants, chief executive at the FSA, has admitted again that the watchdog regrets the handling of the Northern Rock fiasco.

• Date published: 28.07.2008

Cofunds urges radical asset transfer shake-up

Firm's managing director of operational services claims 30-day timeframe is reasonable

• Date published: 28.07.2008

Keydata launches capital protection plan

Keydata has launched a new 100 per cent Capital Protection Growth plan to guard investors against market dips.

• Date published: 28.07.2008

S&P awards AA rating to SGAM Japan fund

Standard and Poor's has awarded a AA fund rating to Société Générale Asset Management's £381.9m Japan Core Alpha fund.

• Date published: 28.07.2008

T Bailey adds Four Active UK Equity funds

T Bailey has added the Four Active UK Equity fund to its UK Best Ideas fund.

• Date published: 28.07.2008

DDQ launches capital-protected water investment

DDQ has launched a capital-protected investment that offers exposure to global water companies.

• Date published: 28.07.2008

Novia hires three Selestia regional sales managers

Independent platform start-up Novia has hired three new regional sales managers from Selestia Investment Solutions.

• Date published: 28.07.2008

F&C adds M&G Strategic Bond to four portfolios

The F&C fund of funds team has added the M&G Strategic Bond fund across four portfolios - the Multi-Manager Distribution, Multi-Manager Cautious, Lifestyle Defensive and Lifestyle Cautious funds.

• Date published: 28.07.2008

Baer reports 10% drop in AUM in first half of 2007

Swiss wealth manager Julius Baer reported a 10 per cent fall in assets under management in the first half of 2007.

• Date published: 28.07.2008

Skandia to bring US equity funds to UK

Successful US managers will be brought UK market as investors look to profit from low share prices

• Date published: 28.07.2008

Noble completes First State transfer

Noble Fund Managers has completed the transfer of the £11m British Smaller Companies from First State Investments

• Date published: 28.07.2008

SLI sees better chances for lower yield targets

The manager of Standard Life Investments' £822.5m UK Equity High Income fund has said UK equity funds with lower yield targets have had a better chance to outperform.

• Date published: 28.07.2008

OBSR awards new ratings to Fidelity retail funds

OBSR has awarded new ratings to four of Fidelity International’s UK retail funds.

• Date published: 28.07.2008

Lincoln defends managers

Lincoln Financial Group UK has defended its managers following underperformance in its equity funds.

• Date published: 28.07.2008

Crosby hires three managers for Forsyth range

Crosby Asset Management announced that is has hired Tom McGrath, Steve Brann and Craig Wetton as managers to help with the development of the Crosby Forsyth range of long-only and hybrid fund-of-funds products.

• Date published: 28.07.2008

de Broë to put Assetmaster range on Cofunds

Williams de Broë has announced it is putting its Assetmaster range on Cofunds.

• Date published: 28.07.2008

JPMAM squares up to Blackrock

JPMorgan Asset Management is throwing down the gauntlet to Blackrock by adding a hedged sterling share class to its €3bn (£2.3bn) Highbridge Statistical Market Neutral fund.

• Date published: 28.07.2008

Elsmark quits FundQuest

Christian Elsmark, managing director at FundQuest, the multi-manager and fund selection arm of BNP Paribas Investment Partners, has resigned.

• Date published: 28.07.2008

Nurs prompted Insinger de Beaufort to quit onshore market

Insinger de Beaufort Asset Management has said it quit the onshore market last year because of the inflexibility of Nurs.

• Date published: 25.07.2008

Barings' multi-manager team increases Mena positions

Baring Asset Management's multi-manager team has been adding to its Middle East and North Africa (Mena) positions as a wave of money floods into the area.

• Date published: 24.07.2008

Insight focuses on structured notes

Structured notes have grown to a quarter of Insight Investment's £243.3m Diversified Target Return fund, the company revealed.

• Date published: 24.07.2008

Buy and sell disciplines key to outperformance: RLAM

Royal London Asset Management (RLAM) has identified buy and sell disciplines as the key secret of outperformance during the UK stock market volatility of the last 12 months.

• Date published: 24.07.2008

Pictet expands Luxembourg Sicav sub-funds

Pictet Funds has added unhedged sterling share classes to five of its Luxembourg Sicav sub-funds in a drive to meet UK retail demand.

• Date published: 23.07.2008

Occam enters UK retail market with Ucits III funds

Occam Asset Management is moving into the UK retail market with the launch of a pair of Ucits III funds for managers Phil Cliff and Mark Williams.

• Date published: 23.07.2008

Octopus launches VCT portfolio service

Octopus Investments, the leading VCT provider in the UK, has launched a new VCT portfolio service that aims to generate an average total return of more than 10 per cent a year.

• Date published: 22.07.2008

Reits to stabilise, predicts S&P

Real estate investment trusts (Reits) should stabilise in the next half year following a worldwide decline over the last quarter, according to Standard and Poor's (S&P).

• Date published: 22.07.2008

Performance fees do not mean better results: study

Fund managers who charge performance fees are no more likely to do better than those who do not.

• Date published: 21.07.2008