Nick Rice

Fidelity to introduce no-commission shares

Fidelity has said it will introduce commission-free share classes across a range of mainstream funds ahead of the implementation of the retail distribution review at the end of next year. The UK’s second-largest retail funds group has already introduced shares with a new 1 per cent commission-free charge, or Y class, on funds aimed at […]

De Fonclare to take over Jupiter European Income

Cedric de Fonclare, the manager of Jupiter’s European special situations fund, has taken over its European income fund from Malcolm Millar, who is leaving the firm. Millar ran the fund from launch in May 2007. Over the last three years, the fund delivered returns of 7.2 per cent, compared with the MSCI Europe excluding UK […]

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US risks downgrade from AAA to B+, says Fitch

Fitch says it will downgrade the US from AAA to B+ if it does not increase the maximum amount it can borrow by August 2 and fails to make its first debt repayment after that date. The US hit its so-called debt ceiling again earlier this year, but without raising it according to normal policy. […]

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Restructure euro banks before countries, BlackRock urges

The eurozone must restructure its banks before dealing with its financially struggling countries, as the banks hold much of the countries’ debts, the head of BlackRock has said. In an interview with Bloomberg, Larry Fink, the chairman and chief executive of the world’s largest investment manager, says the current difficulties with the eurozone’s governments are […]

JOHCM confirms June launch for GEM opps fund

JO Hambro Capital Management has confirmed it will launch a new global emerging markets opportunities fund for James Syme and Paul Wimborne in June. The former emerging markets managers at Barings will head up JO Hambro’s second emerging markets fund, following the launch of the emerging markets fund for Emery Brewer and Ivo Kovachev in […]

JO Hambro makes inroads into Asian market with Silver Metis acquisition

JO Hambro Capital Management has bought Silver Metis Capital Management, an investment boutique specialising in Asian stocks. JOHCM is also retaining two managers from the firm to launch two funds investing in Asian equities excluding Japan. The first, Samir Mehta, set up Silver Metis in 2007 after working at Lloyd George Management in Hong Kong […]

SLI confirms launch of Gars bond fund

Standard Life Investments has confirmed it is launching a new version of its hugely popular global absolute return strategies fund which will invest in the global bond markets. The absolute return global bond strategies fund will aim to deliver an absolute return over any 12 month period. Over three year periods, it will target an […]

Witan chief urges Alliance Trust to cut discounts

Alliance Trust, the UK’s largest investment trust, should cut the discount at which its shares trade in the stockmarket, the head of one of its biggest rivals has said. According to Andrew Bell, the chief executive of Witan Investment Trust, “It will help the sector if Alliance Trust bought back more shares and traded at […]

Death of Andrew Dalton

Andrew Dalton, the founder of the Dalton Strategic Partnership, has died following a heart attack. He joined SG Warburg in 1972 and became a director at Mercury Asset Management, a predecessor firm of fund manager BlackRock, in 1987. He was later vice-chairman of Mercury and chairman of its selected trust. He founded Dalton, which runs […]

JOHCM buys Asian boutique Silver Metis

JO Hambro Capital Management has bought Silver Metis Capital Management, an investment boutique specialising in Asian stocks. JOHCM is also retaining two managers from the firm to launch two funds investing in Asian equities excluding Japan. The first, Samir Mehta, set up Silver Metis after working at Lloyd George Management in Hong Kong for nine […]

Dalton Strategic Partnership founder Andrew Dalton dies

Andrew Dalton, the founder of the Dalton Strategic Partnership, has passed away following a heart attack, leaving Magnus Spence to head up the firm. Dalton was born in 1949, joined SG Warburg in 1972 and became a director at Mercury Asset Management, a predecessor firm of fund manager BlackRock, in 1987. He was later the […]

Rating agency goes negative on the American outlook

Standard & Poor’s has cut its credit rating outlook for the US from stable to negative. It says the US must address its ballooning budget by 2013 to hold on to its coveted AAA rating. It says: “There is a material risk that US policymakers might not reach an agreement on how to address med- […]