Story by: Rob Langston, FTAdviser
HSBC Global Asset Management is set to launch a Ucits III-compliant European absolute return fund in April, subject to regulatory approval.
Hargreaves Lansdown analyst Rob Morgan said the intermediary will not be reinstating the Fidelity European fund to its Wealth 150 buy-list at the present.
Ignis and joint venture company Argonaut Capital Partners have confirmed plans to launch a European Enhanced Income fund in April, as revealed exclusively by Investment Adviser in January.
The Greek government last week unveiled further draconian austerity measures to bring its debt crisis under control.
Baring Asset Management has launched five of its core offshore funds on Cofunds, effective immediately.
Aviva Investors' European equity head John Botham has said many fund managers have been caught by surprise after macroeconomic factors continued to drive markets this year.
Liontrust's European Value fund will launch this month with a focus on the telecoms sector, according to co-manager Rob Cornish.
Henderson New Star European manager Paul Casson has boosted his Greek exposure despite the crisis in the nation.
Insight multi-managers Mike Pinggera and Steve Waddington have taken on short positions to the European market to allow them to retain their favourite European equity fund managers.
HSBC European Growth's move to a mandate of '25x4' (25 holdings at 4 per cent) has improved returns significantly, with first-quartile numbers over the past year.
The news has not been great recently, and this underlines the harsh reality that this recovery is going to be as tough as the downturn. A rummage through the financial pages in recent weeks only serves up sorry stories about the eurozone's woes, as Greece seeks to secure financial support having recorded the highest debt-to-GDP ratio in the EU.
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There’s something rotten in asset management. Maybe that turn of phrase doesn’t have the same ...