Michael Berry

Investment Reporter

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Is the Chinese ‘supertanker’ getting that sinking feeling?

For the past year, commentators have been discussing just how far Chinese growth will fall. That has been accompanied by questions about how many billions of dollars of debt is stuffed into the dark corners of its financial system by off-balance sheet loans. Despite those worries, the China CSI 300 grew 45.9 per cent in […]

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Asset Allocation: Goldman Sachs AM moves from US to Europe

The Goldman Sachs Wealthbuilder Multi-Asset Growth Portfolio has hedged its interest rate risk and recently stripped down its commodities exposure. The $50m (£32.5m) fund is a fettered fund of funds that usually has about 80 per cent exposure to active strategies and the remainder in passives and derivatives. Goldman Sachs decided on the Luxembourg-based Sicav […]

Wells Street Journal: Goldman Sachs’ new blackbox fund

Whoever says asset management is shrouded in secrecy clearly has never had the pleasure of reading an industry-standard factsheet. Here at WSJ Towers, broken windows are regularly repaired with the documents, such is their transparency. But it seems Goldman Sachs Asset Management didn’t get the memo. Surprisingly for a fund trying to attract investors, basic […]

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Asset Allocation: Haywire markets lead Ventre to take cautious approach

“Dislocated” markets are becoming difficult to read so the Old Mutual Spectrum 5 fund is remaining diversified and avoiding the most consensus trades. Old Mutual head of multi-manager John Ventre says the disconnect between the bond market and inflation expectations driven by the massive drop in the oil price is likely to unravel this year. […]

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Neptune trims a third of funds in business overhaul

Neptune Investment Management has closed a third of its funds and is hiring more experienced staff in an attempt to “reboot” the business. Neptune chief executive Robin Geffen wrote to investors outlining the firm’s strategy and planned changes earlier this week. “We have had many successful years at Neptune and as such have shown our clients […]

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Aegon unveils defensive multi-manager fund

Aegon has launched an ultra-low-risk fund to protect retirement-age investors’ capital. The Aegon Stability fund invests in four defensive funds that have complementary portfolios and high levels of liquidity: the Jupiter Strategic Reserve, Fulcrum Diversified Core Absolute Return, Kames UK Equity Absolute Return and Newton Global Dynamic Bond funds. The Aegon fund aims to beat […]

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Does Towry deal threaten Ashcourt Rowan advisers’ independence?

Ashcourt Rowan’s status as a fully independent advice business could be under threat after Towry revealed plans to buy the firm. On Monday, Towry set out details of a proposed £97m deal that has already been approved by Ashcourt Rowan’s board. Ashcourt Rowan chief executive Jonathan Polin will leave the firm if the shareholders take […]

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FCA could yet impose time limit on PPI complaints

The FCA is considering imposing a time limit on complaints for missold payment protection insurance as it reviews the claims process to see whether its approach is working. The regulator says it is gathering evidence on trends in PPI complaints to determine whether the system is “continuing to meet its objectives” of consumer protection and enhancing […]