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BlackRock unveils new European team

Nigel Bolton has joined BlackRock as head of the group’s European equity style diversified team.

The ex-Scottish Widows Investment Partnership (Swip) head of European equities arrives as part of a significant bolstering of the desk with a total of seven new team members.

Bolton will run the MLIIF European and European focus funds, while former Swip investment directors Vincent Devlin and Alister Hibbert also join the group with Devlin taking on the ML Continental European fund and Hibbert the ML European dynamic and MLIIF Continental European flexible funds.

Alice Gaskell and Andreas Zoellinger will continue to co-manage the MLIIF Euro Markets portfolio and James Macmillan the MLIIF European Value and the Merrill Lynch Greater European flexible funds.

BlackRock managing director UK retail Alex Hoctor-Duncan says: “BlackRock’s international retail business has experienced significant growth since 2004 through a combination of strong performance, product innovation and a strong distribution platform. In line with the aspirations of the firm’s clients, BlackRock recognised the need to expand an already solid European equity team. We believe with these talented individuals we now have the ability to be a major player in this important sector.”


MPC may deliver interest cut this week, says Simon Ward

New Star’s “MPC-ometer” statistical model has shown that the MPC may surprise markets by delivering a further interest rate cut this week.The firm says that a week ago, the model, based on 13 economic and financial indicators, suggested a cut in April rather than March. New Star says that the forecast has now changed, in […]

Aifa applauds money guidance

The Association of Independent Financial Advisers has welcomed the Thoresen Review and says money guidance presents an opportunity to educate consumers about their financial needs.Director general Chris Cummings says the industry and government must work together to engage consumers and encourage them to consider their long-term financial well-being.He says: “A better educated public will then […]

Top-selling Woodford funds slump

Invesco Perpetual stalwart Neil Woodford has had an uncomfortable start to the year after seeing both his income funds take a performance hit.Woodford’s £6bn income and £8.5bn higher income funds are currently among the bottom five out of the 90 funds in the UK equity income sector in terms of total return in 2008.High income […]

Mortgage brokers banned for false applications

The FSA has banned two partners of an Essex mortgage firm for involvement in submitting false mortgage applications to lenders.The regulator found that Amjad Malik and Tahir Mahmood, of Abbaci Associates, had submitted mortgage applications on behalf of clients which contained false information relating to the clients’ incomes and occu-pations.The firm ceased to cond-uct regulated […]


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