Global

M&G merges funds after manager departs

M&G is merging its Global Leaders fund into the Global Themes fund in the wake of a review resulting from fund manager Aled Smith’s decision to step down. The proposed merger has been approved by the regulator but is still subject to approval from shareholders. The Global Themes fund will continue to be managed by […]

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Mark Dampier: Going against the grain

With stock markets reaching new highs, many financial commentators share a common belief – global economies are on the road to recovery. Newton’s view of the world, however, is very different. For them, the upturn has been driven by government and central bank policy across the globe, rather than from any real economic recovery. They […]

flemingcampbell

Profile: How an Aussie lawyer became a global asset management CEO

The man at the helm of the recently merged business Columbia Threadneedle Investments is an industry veteran who has watched how increasing regulation has shaped the markets. A former board member of the Investment Management Association (now known as the Investment Association) and a governor of the Pension Policy Institute, Campbell Fleming says it is […]

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Mark Dampier: An investment trust for a cautious outlook

An interesting feature of investment trusts is they have an inbuilt way of showing you whether they are in-fashion or unloved. Trading at a significant premium to net asset value indicates a trust is in high demand. Trading at a discount suggests the reverse is true. I am surprised at how many investors will purchase […]

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Shell agrees £47bn deal to buy BG Group

Royal Dutch Shell has agreed a takeover of oil and gas exploration company BG Group in a deal which values the business at £47bn. Under the terms of the deal, investors would receive a premium of about 50 per cent on BG’s closing share price of 910.4 pence as at 7 April. BG shareholders will […]

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Neil Woodford: Don’t look to Europe to take over from US

Markets often do surprising things in the short term but the recent divergence of the MSCI AC Word index price level and underlying earnings expectations is intriguing. Having recovered rapidly from the financial crisis lows, global earnings have broadly plateaued since 2011. Until recently, that is. The chart (below) shows a sharp deterioration in earnings […]

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M&G to close £81m Global Real Estate Securities fund

M&G Investments is winding-up its £81m Global Real Estate Securities fund as it is no longer commercially viable. M&G says it has been reviewing the fund after Gillian Tiltman left the firm in August last year to join Neuberger Berman. The fund managed £135m of assets on 31 July 2014 but this slumped to just […]