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Framlington’s Rock dismisses Fof concerns

Axa Framlington’s new multi-manager head Caspar Rock has moved to counter criticism of his appointment and allay concerns about his lack of experience of running funds of funds.

Bates last week placed the Axa Investment Managers multi-manager funds under review after a shake-up at the group, which saw the port-folios moved into Axa Framlington under Rock.

Rock stresses that he has 20 years’ fund management experience and although the last five years have been spent running the Framlington health fund, he has managed global mandates while colleagues Keith Speck and Francois Richeboeuf have fundpicking experienceRock says: “My last five years have been in healthcare and the previous 10 in European equity. I have also ran global and sector mandates. I have always believed in looking for talent and the key thing is looking for talent in managing assets.

“We have quant support behind us. Keith has multi- manager background and Francois has a quant background and has had multi-manager responsibility.”


Savers’ safety fears in central scheme

An Association of British Insurers’ survey on pension personal accounts has found 60 per cent fear for the safety of their savings under a centrally administered NPSS compared with 47 per cent for an industry model. Eighty per cent want some choice over who administers their account.

IFA Consortium chief urges firms to welcome graduates

Financial services firms should welcome graduates despite them not bringing a client bank, says IFA Consortium director Tim Sutcliffe. He says a lack of clients is not a valid reason to deny graduates the opportunity to join firms. Sutcliffe, also pi financial Dixon Sutcliffe & Co chief executive, says companies often use this excuse as […]

Balls says advisers need educating as much as the public

Treasury Economic Secretary Ed Balls has hit out at the advice sector, claiming it is as big a challenge ensuring that adv- isers educate themselves about industry developments as it is to educate the public. Speaking at an ABI Parliamentary reception in London last week, Balls said when it comes to financial education, making sure […]


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