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Flying start for Premier multi-asset funds

Premier Asset Management’s multi-asset growth and multi-asset income and growth funds have had a good start to the year, ranking first and second out of 158 funds in the mixed investment 40-85 per cent shares sector during the first quarter.

The firm attributes performance to its asset allocation calls, fund selection and not panic selling out of good investments during last year’s lows.

Fund manager David Hambidge invests in areas of the market that are not crowded. He sees the most value in Japan and Europe but says value alone is not a good enough reason to invest. There has to be a catalyst for positive changes that will reward investors for their patience.

Japan is well known for its false dawns but Hambidge is optimistic on a three to five-year view. He says Japanese markets are cheap but there needs to be a catalyst for a re-rating in the form of a weaker yen. This should happen as a result of the Bank of Japan’s 1 per cent inflation target, which recently helped the region’s export-dominated equity market to rally.

Hambidge is hedging his Japanese exposure back to sterling as returns would otherwise be diluted by local currency weakness. He raised his Japanese weighting by 1.5 per cent in the first quarter, at the expense of his European allocation, but thinks there are still plenty of opportunities in Europe.

He says: “The eurozone is a mess but Europe houses many world-class companies. We want to be there for the recovery, even if it means taking a bit of pain now.”



Poor DC governance hitting confidence

Industry experts say a lack of good governance risks undermining employee confidence in defined-contribution pension schemes. Speaking at TheCityUK’s pension conference in London last week, Financial Services Consumer Panel chair Kay Blair said that governance levels in defined-contribution schemes continue to lag behind those in defined-benefit schemes. She said: “I think governance in defined-benefit schemes […]

IFDS poaches GBST UK business head

GBST Wealth Management head of UK business Ian Wilkinson is to join technology firm International Financial Data Services as director of platform technology. Wilkinson has been with the wrap technology provider since March 2007, the firm provides the technology behind the Novia, AJ Bell, JP Morgan and Aegon Retirement Choices platforms. GBST chief executive Rob […]

Multi-regulators could cause auto-enrol confusion

Senior industry figures have warned that the UK’s multi-regulator pension supervisory regime risks causing confusion for employers auto-enrolling members into a workplace scheme. Under the current system, pensions regulation is divided between the FSA, which supervises retail products, and The Pensions Regulator, which regulates occupational pension schemes. Under the new twin peaks regime, which is […]


Ticketus pulls out of Blue Knights bid for Rangers

Ticketus has pulled out of discussions with the Blue Knight’s Consortium over a deal to buy Glasgow Rangers Football Club. Ticketus says it was unable to finalise satisfactory terms of agreement for its investors with the Blue Knights around restructuring its ticket purchase agreement. Octopus Investments owns Ticketus, a London-based firm which provided Rangers with […]


Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


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