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Brown snubbed by Paulson on US visit, say reports

US Treasury Secretary Hank Paulson is reported to have turned down a meeting with Prime Minister Gordon Brown on his trip to New York.

Brown told the party conference in his keynote speech on Tuesday that he would be visiting the US to meet with “financial and Government leaders” to call for global principles of transparency and risk management to safeguard the world financial system.

Brown is set to meet fund managers on Wall Street but the BBC reports that there are no plans for him to meet with either President Bush or Paulson.


Clock watching

Multi-asset funds are in fashion after a year of disappointing stockmarket returns. The risk reduction and diverse sources of return these funds can offer present commanding evidence for a permanent place in a portfolio – all the more so if the fund manager can demonstrate an ability to add value by systematically tilting exposure towards the best performing asset classes as the economic cycle ticks on.

Go by the board

Ibet that shareholders in Edinburgh Investment Trust cannot believe their luck. Having seen their holding struggle in recent times, it now has one of the UK’s leading fund managers, Neil Woodford, running the show.

Multi faceted

Tony Yousefian, chief investment officer and founder of OPM Fund Management, which was started in 2003, manages a variety of multi-asset funds. Tony has had a first-class career, ending up as a director of Smith & Pinching Portfolio Management before founding OPM.

Comb the wreckage

Freddie Mac, Fannie Mae, Lehman Brothers and AIG have combined to whip up a perfect storm which has howled on to UK shores over two unbelievable weeks. In the eye of the storm, the FTSE 100 closed below 5,000 points for the first time in three years and the UK’s biggest lender, HBOS, was rescued by rival Lloyds TSB.

Time to stop the salami slicing on tax relief

Steve Webb  – Director of Policy and External Communications As the Autumn Statement approaches, Steve Webb calls for the Government to stop tinkering with tax relief. Twice a year, in the run-up to the Spring Budget and the Autumn Statement, we face a torrent of speculation as to what changes the Chancellor might make to […]


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