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Cisco gives tech and US funds a boost

Technology and American growth funds were given an unexpected boost with a two-thirds rise in quarterly profits by the world&#39s second-biggest company, Cisco Systems.

The San Jose-based technology giant, which makes internet hardware products, is one of the most popular stocks among technology and American growth fund managers.

Many fund managers had opted to continue investment in Cisco in the past few months despite a continued decline in its value on the Nasdaq stockmarket index.

Net sales for the fourth quarter of the year rose by 61 per cent to $5.72bn compared with $3.56bn in the same period last year.

The news is a boost to funds such as the Janus Twenty fund which has hol-dings of more than 5 per cent in Cisco.

A Dublin-domiciled version of the $37bn Twenty fund, which is available to UK investors, was set up in May.

Janus director for Europe and the Middle East Austin McBride says: “Cisco has a dominant franchise, a strong business model and a good management team that delivers ongoing growth.”


Flemings loses high profile fund manager

Investment bank Flemings has lost one of its leading fund managers to specialist boutique Boyer Allan Investment Management. Richard Whittall is leaving Flemings only months after being awarded a seven figure bonus. He managed more than £3bn for the bank, including its £542m Save & Prosper Japan Fund. The fund is one of the largest […]

BUPA International signs deal with Zurich International

BUPA International and Zurich International have announced a deal which will give customers of both companies access to a range of health and life products. Both companies deal extensively through IFAs. BUPA says it does 70 per cent of its business in the UK through IFAs. The agreement will see the establishment of a one-stop […]

Changing the image of advisers

Mention the words “financial adviser” to someone who has never seen a financial adviser or not seen one in recent years and their immediate reaction is likely to be: What is this person going to try and sell to me and why do I need it today if I&#39ve always got by until now?But ask […]

Flexibility is buzzword for IPAs

At the time of release of the latest consultation document on the Individual Pension Account, I was in the land of the 401(k) queuing for the Buzz Lightyear ride in Disney&#39s Magic Kingdom. I was subjected to some spectacular spinning before leaving more than a little disorientated. The Buzz Lightyear ride had its moments, too.The […]

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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