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Fidelity and CCS funds upgraded

Two Fid elity funds have been upgraded to AAA status following Standard & Poor&#39s review of the managed funds sector.

Fidelity&#39s MoneyBuilder global and WealthBuilder funds were both upgraded from AA status.

Capel Cure Sharp&#39s Hallmark growth portfolio fund was also upgraded to AAA status in the managed balanced sector.

The upgrades follow a mixed year for managed funds, with average returns of 18.2 per cent in the managed active sector and 6.2 per cent in the cautious managed sector.

These compare with average returns of 20.8 per cent in the active sector and 8.6 per cent in the cautious sector last year.

There were sizeable gaps between the topand bottom-performing funds.

In the managed active sector, there was a 27 per cent gap bet ween the 10th and 90th positioned funds.

Standard & Poor&#39s associate director and head of managed funds Peter Nor ton says some of the sector&#39s slower performance has been due to a shift from equity inc ome to fixed-interest funds.

He says: “Several companies have recently been switching their attention away from dividend payments to focus more on their growth potential.

“This trend, combined with a period of significant underperformance by higher-yield equities in the latter part of 1999 and early 2000, has prompted a number of managed funds, including Five Arr ows independent income and Friends Provident Man aged balanced, to red uce their reliance on equity income funds and sift a portion of their assets to fixed-interest funds.”


First Nat aims for more self-certs

First National Mortgage Company is revamping the terms of its flexible base-rate tracker loan to attract more self-emp loyed applicants.It is increasing the loan to value ratio to 90 per cent and reducing the minimum loan from £163;50,000 to £163;35,000.The Manageable Mortgage is available to existing and new customers. The rate is set at 1.24 […]

Liontrust fund hits £1bn and closes doors

Liontrust UK equity fund have closed the door to new institutional investment business after the fund managed by Jeremy Lang hit the £1bn mark for funds under management Lang says he now wants to concentrate on obtaining the best returns for existing Liontrust clients. A Liontrust spokesman says “The decision to close Lang&#39s funds is […]

Arthur Andersen releases HNWI report

High Net Worth Individuals are calling for closer relationships with asset managers and performance related fees, according to a survey by financial services company Arthur Anderson. Called “High net worth management: delivering value in dynamic markets” the survey was conducted worldwide on HNWI&#39s and asset management boardroom executives. The research found HNWI&#39s want asset managers […]

Baillie Gifford – Oeic Pep Transfer

Wednesday, 22nd November 2000.Type: Oeic.Aim: Growth and income by investing in top 350 British companies, corporate bonds and large cap companies worldwide.Minimum investment: £10,000.Investment split: Subject to negotiation.Charges: Initial 5 per cent. Annual – corporate bond fund 1 per cent, British 350, European, income, managed, UK smaller companies, American, international, Japanese, Pacific – 1.25 per […]


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