New multi-manager Focus Capital is set to launch a multi-asset class emerging markets fund of funds in the new year.The firm, headed by former Standard Asset Management chief investment officer John Cleary, was established in September as a specialist global emerging markets boutique. The fund will invest glob-ally in emerging markets across asset classes, including equities, bonds and hedge funds. This is seen as particularly useful in reducing emerging market risk as these regions can be one of the more volatile asset classes. Focus Capital believes asset allocation is responsible for most of the return in a port-folio. The new fund, which will be Dublin-listed, will invest only in funds managed by long-established emerging market specialists and can move 100 per cent invested in cash if deemed necessary. The starting point for asset allocation will based on what stage of the investment cycle the management team believes the economies are presently followed by where a country sits in terms of investable assets. Some emerging comp-anies only have equities markets while the bond markets in another region may be stronger. Focus Capital says it will market the fund to profess-ional investors and advisers but as a product for sophisticated investors. It will not be available directly to clients. Managing director John Cleary says: “Emerging market funds need the ability to be dynamic, to jump between markets and asset classes. We think the investor base is getting better at distinguishing between emerging market countries and assessing risks and implications. They do not discriminate against one region as a result of something going on in another country.”
Rigid complaint-handling rules requiring firms to respond within five working days and give a four-week update are to be scrapped as part of the Newcob consultation and replaced with a requirement that firms respond in a “reasonable time-frame”, Money Marketing understands.
Resolution Asset Management has completed its search for a third senior European equity team member having rec- ruited Singer & Friedlander head of European equities Ian Ormiston. Ormiston joins European team head Adrian Darley and Jonathan Fearon, who arrived recently from Gartmore. Tim Callaghan was origin-ally earmarked to head Resolution’s new European in-house team after […]
Firm sets up multi-tied advisory service to advise on lifetime loans, reversion and drawdown
Prudential’s stockbroker UBS has suggested that the life office should sell its UK insurance operations in a cash for shares merger deal and says the obvious buyer is Resolution.
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
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Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]