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Fund managers shun volatile commodities

The resource-driven markets posed a major dilemma for UK equity income fund managers in the first seven months of this year , says Standard & Poor’s latest update on the sector.

S&P fund analyst Michael Hockings says some managers were reluctant to invest in sectors where profits are dependent on commodity prices and trends are difficult to predict.

The FTSE All-Share index, including reinvested income, rose by 12.4 per cent over the period while the median equity fund income fund climbed by 11.3 per cent on a total return basis and the UK equity and bond sector the median fund was up by 9 per cent.

Most managers are opt- imistic on prospects for the UK equity income sector, but less so than two years ago. BWD Rensburg’s Colin Morton feels that UK equities have already achieved what he was expecting for 2005 as a whole.

S&P research analyst Peter Fuller says: “The market has been difficult and the only ray of light is the smile on the faces of equity income managers. There is a concern that the market is about to dip and managers have become more cautious. This is playing into the hands of equity income managers who naturally sit at the more defen


NAPF wants independent body

The National Association of Pension Funds is calling for a new independent standing commission to report to the Government on the impact of economic, demographic and social changes on Britains pensions system, and to advise ministers on the measures necessary to maintain the UK pension system in the long term.

IFA fined 25k for system failures

The FSA has fined IFA CFS Independent 25,000 for serious systems and controls, risk management and compliance failures. The regulator concluded CFS had a poor risk management strategy, relied heavily on third parties to comply with regulatory requirements, and was not aware of key obligations when a firm is entrusted with client money and client […]

Some like Sipps hot

It’s A for alternative investments as A-Day fever gets a grip on the Sipp market. A straw poll of advisers and Sipp administrators reveals a wide variety of enquiries about potential Sipp investments. As well as being asked about putting investments such as stamps, classic cars and fine wine in pension pots, Central Financial Planning […]

L&G adds sixth tranche of protected FTSE plan

Legal & General is offering a sixth tranche of its protected capital growth plan, with returns linked to the performance of the FTSE 100 index. The product, which runs for six years, offers a minimum of 21 per cent growth or 50 per cent of the rise in the FTSE 100 if this is greater. […]

Life cover for life

When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that waybecause before the arrival of RDR in 2013, that’s more or less exactly what they were. For advisers thinking […]


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