View more on these topics

EFM loses £106m trust contract

Edinburgh Fund Managers has lost the management contract of the £106m Edinburgh Worldwide Investment trust to Baillie Gifford following poor performance.

Gifford will assume management on December 2, with IFA Best Invest advising the trust&#39s board in the interim. Its aim is to boost performance and reduce the 18 per cent discount to NAV at which the trust&#39s shares currently trade.

Chairman David Coltman says: “it is our judgement that Baillie Gifford offers the best potential for enhancement of shareholder value. In addition to their expertise in managing global equities, we are particularly impressed by their commitment to the investment trust sector.”

Recommended

AMI gains 2000 members

The Association of Mortgage Intermediaries has announced it now has 2000 members.

Credit Suisse waives initial charge on FOF range

Credit Suisse Asset Management is temporarily waiving the initial charge into its funds of funds to mark the two-year anniversary of the multi-manager range. CSAM&#39s standard 4 per cent initial charge is falling to 0 per cent until November 28 or until the 11 funds hit £100m. IFA commission will fall to 1 per cent […]

Sporting chance for Catalyst EIS

Specialist investment firm Catalyst Investment is teaming up with a sports promoter to create an enterprise investment scheme sports fund which aims to invest in the stars of tomorrow. The fund, which will open in November, aims to raise £600,000 and will raise further funds each year. The money will provide four or five individuals […]

DWS sets up fettered Fof and corporate bond fund

DWS Investments is offering a fettered fund of funds and a corporate bond fund seeking the best-value debt worldwide as part of its bid to break into the top 10 UK investment companies. The managed distribution Fof, to be run by managed portfolio fund manager Jonathan Arthur, will invest in DWS&#39 flagship funds, with a […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment