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Unwarranted collective optimism in banking sector
Tim Scholefield, Head of Equities at Baring Asset Management comments: "Financial stocks have underperformed during the recent rally in equity markets. Since August 16th global equities have risen by 6.7%, whereas the Banks sector has risen by just 1.8%.
Fed sends right signal with rate cut
Marsico Capital Management has welcomed the Federal Reserve’s decision to cut the Federal Funds rate by 50 basis points, judging, that the decision sends the right signal.
Reasons to be cheerful
“Amid the current investment noise, there are still reasons to be cheerful,” say Roger Guy and Guillaume Rambourg, Managers of the Gartmore European Selected Opportunities Fund and the Sicav Continental European Fund.
F&C: US rate cut, market update
Following yesterday's sharp cut in US interest rates, Jeremy Tigue, Head of Global Equities at F&C Investments, has provided an update on the market outlook:
Which? : many with-profits customers not been treated fairly
As the Financial Services Consumer Panel announces new research showing that many with-profits customers have not been treated fairly by their providers, Dominic Lindley, principal policy adviser, Which?, says:
Improvements needed in advice and governance of closed life funds
The Consumer Panel today calls on the FSA and the industry to ensure all customers in closed and ‘quasi-closed’ with-profits funds have access to advice and that ‘independent’ representation of policyholders’ interests in the financial management of these funds is genuinely independent of the company board.
Banking on a return in confidence
Ted Scott, manager of the top performing F&C UK Growth & Income Fund and the ethical Stewardship Growth and Income funds, comments on the outlook for banks given the extraordinary move by the Chancellor last night to restore confidence:
Jupiter Emerging European Opportunities marks 5th anniversary
Jupiter’s Emerging European Opportunities Fund has marked its 5th anniversary with a total return of 405%.
F&C joins coalition to petition SEC
European asset manager F&C has today joined a broad coalition of US investors, US state officials with regulatory and fiscal management responsibilities, and environmental groups to file a landmark petition asking the US Securities and Exchange Commission (SEC) to require publicly-traded US companies to assess and fully disclose their financial risks from climate change.
F&C to launch Global Climate Opportunities Fund
F&C is expanding its sustainable investment product range with the launch of a new fund investing in companies that provide the technologies and systems to reduce greenhouse gas emissions, and those that will help society address the reality of climate change.
New Star property fund benefits from Asian property markets
Strong forecasted economic growth, high levels of demand and low levels of expected supply to drive Singapore, Japan, Hong Kong and broader Asian commercial property markets.
AIC introduces sector classification system for VCTS
The Association of Investment Companies (AIC) has introduced a new classification system for Venture Capital Trusts (VCTs), creating six new sub-sectors which expand on the current ‘specialist’ and ‘generalist’ categories.
CalPERS commits €400 million to European Private Equity
Standard Life Investments (Private Equity) Limited (“SLIPE”), has been selected by California Public Employees Retirement System (CalPERS) to manage a mandate valued at €400m euros for their Alternative Investment Management (AIM) Program.
Share buybacks and Director purchases help to underpin UK Equities
Gartmore’s UK equities team believes that recent market falls have left some stocks significantly undervalued. Sacha Sadan, manager of Gartmore’s £348 million UK Growth Fund, draws encouragement from the recent spate of share buybacks.
Economic reform a top priority for China
As Asia’s fastest growing economy, China continues to outperform other emerging markets, expanding 11.9% in the last quarter from a year earlier. “Economic reform remains a top priority for the Chinese government, a trend we expect to continue”, comments Charlie Awdry, manager of the Gartmore China Opportunities Fund.