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Credit opportunities are on the rise, says F&C

As the OECD warns of a potential economic slowdown following the crisis in the subprime market, F&C says opportunities are emerging in credit.

F&C Corporate Bond Fund manager Ian Robinson says while investors need to be cautious, the news is not all bad.

He says: “As the latest OECD report points out we are at a pivotal time and everyone should be nervous. However, we ultimately believe that it is not in the central banks’ interest to allow the current situation to become recessionary in nature and they will react if they have to.”

Robinson says it is currently a buyers’ market for corporate bonds with interesting opportunities to be found in new issuances.

He adds: “The question now is how significant the impact of the subprime crisis will be on the global economy and whether we are really looking at a very different environment than we have experienced over the last two years. This is something we cannot judge at this point in time. But certainly for fund managers, we should expect to find it a lot easier to operate because there is likely to be less competition for attractively priced assets.”


A different story

I have been spending time, probably too much time, dissecting the propositions in the RDR document.

Sceptical IFAs take CAR for test drive

Only one-third of advisers think that customer-agreed remuneration would remove product bias and improve persistency.Out of 100 advisers questioned in Aegon’s IFA Insights survey, nearly half say a move to CAR would have a negative financial impact on their business although 46 per cent of disagree with this statement.Nearly two-thirds of adv-isers were in favour […]

David Harrison

The founder of True Potential postponed retirement plans to set up a company which aims to deliver an electronic platform which IFAs can use to run their whole business. Interview by Gregor Watt

Arc building on wealth with Throgmorton buy

Arc Fund Management has bought IFA Throgmorton Asset Management in a deal potentially worth £1.6m.The acquisition is Arc’s first step into a wealth management division.Throgmorton has around £150m of fund assets under advice and earned £210,000 on turnover of £1.57m for 2006. It was founded in 2002 to offer advice to small businesses and high-net-worth […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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