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Baillie Gifford sees opportunities for value on both sides of Atlantic

Recent weaknesses in the US stockmarket have created increasingly attractive investment opportunities in selected sectors and stocks, according to fund manager Baillie Gifford.

It points to the performance of the S&P 500 companies, which showed increased profits this quarter year on year for the first time in six quarters, although it says that some companies are lowering their expectations for profit growth in the second half.

Baillie Gifford is also predicting positive returns in the UK despite recent market volatility. It argues that while the FTSE 350 fell sharply in July, economic and corporate data was only marginally disappointing and much of the volatility was caused by forced selling by pension funds and insurers.

Sales & marketing director Ken Edwards says: “It has been a hard few months for investors who have lost money, although, since the launch of Baillie Gifford&#39s intermediary distribution strategy in March 2002, our British 350 and American funds have remained top-quartile.

“The Baillie Gifford income fund has performed better than its peer group as the fall in the market has allowed genuine value to emerge in some companies&#39 shares.”


Britannic / Axa white-label deal scrapped

A deal which would have seen Britannic white-label with-profits for Axa has been called off at the last minute.The move would have seen Axa selling Britannic&#39s with-profits products branded as its own through its distribution channels.Britannic says the deal was called off despite discussions between the two firms going as far as setting up a […]

The Mortgage Operation adds three new lenders

Mortgage network and packager The Mortgage Operation has added three new lenders, Intelligent Finance, Norwich & Peterborough and Cheltenham & Gloucester to its panel. This brings the total number of lenders offering products to TMO member brokers through the panel to 16.

Threadneedle Investments – Defensive Bond Fund

Friday, 20 September, 2002 Type: Unit trust Aim: Income by investing in Threadneedle funds Minimum investment: Lump sum £2,000 Investment split: 100% invested in fixed interest funds Yield: 2.99% Isa link: Yes Pep transfers: Yes Charges: Initial 3.75%, annual 0.25% Commission: Initial 3%, renewal 0.5 % Tel: 0800 06840005

L&G tops pension fund manager table

Legal & General is the largest manager of UK pension funds, according to the latest survey of investment managers by Hymans Robertson.Barclays Global Investors took second place, displacing Merrill Lynch, who moved up to third.The survey showed that US institutions have made significant inroads into the UK marketplace. Goldman Sachs entered the top ten at […]


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