Asia is ending a period of consolidation and the time is right for a sustained period of growth, says Waverton Asia Pacific manager Alan Gibbs.Between 1975 and 1990, Asia went through a sustained growth phase but the region’s markets have since been consolidating. Gibbs thinks many of the factors which drove growth have now returned, with those driving consolidation now receding. Gibbs was speaking at the launch of his fund, to be managed by JO Hambro Investment Management. The fund is a high-conviction,s non-benchmarked product holding bet- ween 30 and 40 stocks, with aggressive use of cash positions to protect capital. Gibbs says the rise of cheap Chinese manufacturing has driven competition across Asia. Malaysia, Indonesia and Taiwan have been competing for direct foreign investment but, as a result, equities have rem-ained under-valued while the countries have been accumulating cash. Gibbs says: “From an inves-tor’s point of view, Asia is awash with cash. This is in great contrast to the conditions we are seeing both in Europe and the US, where gearing levels are high, governments are heav-ily indebted and consumers have high levels of mortgage and credit card debt.” Baronworth director Colin Jackson says: “The 25,000 minimum investment on this fund reflects that it is designed to appeal to the more sophisticated investor and Asia is alw-ays perceived as a higher-risk investment. Having said that, there is a good deal of optim-ism surrounding the region.”
Norwich Union is running an education programme to improve adviser understanding of equity release. An NU poll has found that 78 per cent of advisers believe they will be writing more equity-release business in the next six months. Twenty-seven per cent believe house price rises have encouraged interest in equity release while 36 per cent […]
Invesco Perpetual is to sponsor Wales’ four international matches at the Millennium Stadium in Cardiff in November. The Grand Slam winners play all three Southern hemisphere superpowers to kick off their 125th anniversary season. The deal even allowed marketing director Rick White to strut around the hallowed Welsh turf for a bit of shameless publicity.
Furness Building Society is launching into the non-conforming mortgage market with a distribution agreement with Mortgages plc. Furness will market the entire Mortgages plc product range to intermediaries using jointly branded marketing and promotional material. A specialist team has also been set up within the Furness Direct operation.
One year on from mortgage regulation, the panic has subsided and it appears that the industry has pretty much got on with things, exchanging its MCCB hat for an FSA one.
The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.
In the video, Taylor addresses the following:
• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy
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