View more on these topics

City’s Harris eyes switch to US growth


City Financial multi-manager Mark Harris has made his first allocation to the $1.1bn (£775m) Legg Mason Clearbridge Aggressive US Growth fund as he predicts a shift to growth fundamentals in 2014.

Co-managed by Evan Bauman and Richie Freeman, Harris says the Legg Mason fund caught his eye due to its management stability and its low turnover.

Harris says: “We have put 1 to 2 per cent across most portfolios into the Legg Mason Aggressive US Growth fund. It may seem an early move to as we will see value and dividend story do well in the short term.”

“But as we turn into 2014, I think what might be the case is if growth numbers are still looking like they are progressing then I think we will see switch to more growth oriented strategies.”

Harris says he may add more to the fund over time and made the initial investment with newly freed-up cash.

He says: “In mid-July I thought markets had got a bit ahead of themselves so I trimmed some equity positions. I had a bit of cash and I put it back to work.”

EA Financial Services owner Minesh Patel agrees with this pre-emptive move to growth, but is less convinced about the active investment strategy.

He says: “I definitely see the economic cycle moving more to a growth focus. But when it comes to accessing a core market like the US I would prefer to use passive funds, as I would question whether a US manager add much more than the market.”



Brokers slam Rics’ plan for house price cap

Brokers have attacked a proposal by the Royal Institution of Chartered Surveyors to cap house price growth at five per cent a year. Last week Rics called on the Bank of England’s Financial Policy Committee to limit house price growth to slow the build up household debt and prevent a housing bubble. It says at the […]


Govt to strengthen role of IFAs in LTC funding

Care services minister Norman Lamb says he will “strengthen” the role of regulated advisers in long-term care funding reforms in changes to the Care bill. The bill, currently in the House of Lords, would force local authorities to signpost people funding their own long-term care to “independent” financial advice but not just regulated advisers.  Other sources of financial […]

OOC twins

‘We’ve had the operation and we’ve now been separated’

“We’ve had the operation and we’ve now been separated.” Hargreaves Lansdown head of corporate research Laith Khalaf on painful a desk move which divided him from Tom McPhail. “They are a bit like Man Utd – everyone wants to knock them.” EA Financial Solutions owner Minesh Patel sticks up for emerging markets. “Lock me up […]


Buck Consultants launches non-advised annuity shopping-around service

Employee benefits firm Buck Consultants has launched a non-advised annuity shopping around service for people with pension pots worth more than £20,000. The new service, called ‘Retirement Assured’, allows users to check the different rates offered by providers using an online calculator. Anyone who wants to buy an annuity through the service will need to […]


School fees planning

Jeremy Pearson is 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. Many parents value the standard of education offered by […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm