View more on these topics

Europe is hot topic for US managers

Europe was the main talking point for the US-based fund managers that Rathbone Unit Trust Managers head of multi-asset investment David Coombs met on a recent trip to the US West Coast.

Coombs visited US-based PimCo, Western Asset Management and RCM in October, expecting conversation to be dominated by the US economy but he found that the hot topic was Europe as the managers were amazed at the lack of direction shown by political leaders in tacking the sovereign debt crisis.

The managers say they are struggling to be positive on Europe. Coombs found them critical of the European Central Bank, which had increased interest rates at the time but rates have subsequently been cut since Coombs’ visit.

The managers that Coombs spoke to believe that the ECB should be given a mandate to print money as a short-term solution.

Then, over the long term, the tax system should be harmonised across the eurozone, although they understand that is politically difficult to achieve.

Coombs says: “The feeling about investing in Europe was mixed. Some managers were completely out of the market, a couple were underweight and some were reducing their underweight positions but nobody was positive on European equities.”


SYZ thinks small and nimble for Altin fund

SYZ Asset Management has increased the allocation to managed futures in its Altin fund of hedge funds by adding a small fund that it says is more nimble than bigger funds. Altin now has a 1.24 per cent holding in Blackwater Capital Management’s managed futures programme to bring further diversification to the portfolio. SYZ says […]


Aegon ScotEq redress costs hit £100m

Aegon has revealed an additional £12m of costs relating to the ongoing redress programme for Scottish Equitable customers, taking the total figure associated with the action to £100m. In December, ScotEq’s UK life and pension business was fined £2.8m by the FSA and ordered to pay customers £60m following significant administrative failings. Aegon UK’s Q3 […]


Lakey: FSA rewriting of IFA history persists

What a week. It started with unintentional humour from Hector Sants of the FSA who stated, without a twitch, smirk or blush, “I have been a proponent of accountability to Parliament.” We then heard that the FSA is confident that Europe will allow it to gold-plate Mifid II so that the RDR experiment can be […]

Ward says new lenders will need scale to get off to start

Home Funding chief executive Tony Ward says new lenders will not be able to enter the mortgage market unless there have considerable scale. Many high-profile new lenders have announced their intentions to enter the UK mortgage market over the past two years, including Tesco Bank, Virgin Money, NBNK, Portillion and Home and Savings Bank and […]


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