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Bestinvest downgrades Investec fund

Bestinvest has downgraded the £343m Investec Global Free Enterprise fund to a one-star, sell rating.

The fund was previously downgraded in 2010 “following substantial underperformance in the 2008 banking crisis”.

Analyst Tom White says the fund’s investment process is partly dependent on the Investec 4Factor quantitative system, “and in common with other quant-based funds tends to struggle during market turning points”.

He adds: “In the years since, the fund has failed to recapture its former glories.”



PosSol cuts losses to £100k for 2011

Positive Solutions has posted pre-tax losses of £106,000 for 2011, a large reduction on the £1.6m loss reported for 2010. The Aegon-owned firm also made £2.2m of complaints provision, compared to £638,000 the previous year. Assets held from partners for any potential liability caused increased from £436,000 to £2.1m. The salary of the highest paid […]

Fidelity to merge two multi-manager funds

Fidelity Worldwide Investments is to merge the £3m Fidelity MultiManager Balanced Portfolio and £106m Fidelity MultiManager Income Portfolio funds. The asset manager decided to merge the Balanced Portfolio into the Income Portfolio due to its smaller size and higher total expense ratio of 2.17 per cent, compared to the Income Portfolio’s 2.1 per cent. The […]

Case study: Will the GAAR target inheritance tax avoidance?

The problem : A client has assets worth considerably more than the current inheritance tax threshold. He wants to put plans in place to offset any IHT liability but is concerned about potential changes to IHT rules. What changes are likely to IHT rules? The solution:In June this year, the Government published its proposals for […]


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