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F&C turns to Nevsky

F&C’s multi-manager team has added the Nevsky global emerging markets fund to its multi-manager growth fund, multi-manager balanced fund and lifestyle growth portfolio.

The team turned to Nevsky to provide specialist exposure to global emerging markets, an area which offers diversification. It believes the medium-term outlook for emerging markets is positive and that Nevsky is one of the most experienced and highly resourced teams running a global emerging markets fund. Nevsky also has a long-term track record in delivering consistent risk adjusted returns.
Head of retail multi management Dean Cheeseman says: “We added the fund to lifestyle growth to complement our existing position in Aberdeen emerging markets. Given that the neutral asset allocation to global emerging markets is 10 per cent, we feel that holding two complementary funds to obtain this exposure helps offer greater diversification.”


Fitch downgrades Rock debt

Fitch Ratings has today downgraded Northern Rock’s tier 1 and upper tier 2 securities after the bank revealed it would not be paying out on its debt coupons.


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