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Global perspective as Aegon ends geographic viewpoint

Aegon Asset Management is replacing its geographic desks with a new framework focusing on global sectors.

It will move away from geographic considerations and introduce global sector-based research teams concentrating on business outside the domestic market.

The global research group will be led by head of research Alistair Byrne and split into five teams covering cyclical stocks, defensive stocks, financials, resources and technology, media and communications.

The portfolio management team will be aligned with institutional, insured and retail fund client groups with each responsible for constructing portfolios for each client group.

A management reshuffle sees UK head of institutional funds Stephen Adams become head of institutional equities. Head of UK equities Steve Laidlaw becomes head of insured equities and head of European equities Mark Peden becomes head of retail fund equities.

Chief investment officer Wendy Hay says: “These chan-ges reflect rapid changes in the global economy. National and geographic borders are less important than they were. Our research teams will be able to take a global perspective on sectors and feed that analysis directly to our fund managers.”


Two more lenders join Mortgage 2000

Nationwide and Portman Building Society have joined the Mortgage 2000 mortgage club bringing the total number of lenders on its intermediary panel to 26. It says these additions mean brokers can access 75 per cent of the mortgage market through the club and benefit from exclusive deals it negotiates with providers. As an introductory offer […]

Surrender link for Widows

Scottish Widows has set up a link to the Association of Policy Market Makers&#39 website to help policyholder explore their options when surrendering endowments.Widows claims it is the first life office to offer such an initiative,which pre-empts the FSA&#39s move to make it a statutory duty for life companies to inform consumers of alternatives to […]

Bemused about the FSA&#39s views

Your report that the FSA and David Severn are “bitterly frustrated and bemused” by IFA reaction to the proposed changes in polarisation must surely be wrong.This report had its origin in a statement made by fee-based advisers John Baxter and Giles Pidcock of Baxter Fensham. Just suppose that this report was right – the implications […]

Fifth of firms to close DB schemes

More than a fifth of companies offering a final salary scheme are planning to close it, according to a survey from Employee Benefits magazine. Around 73 per cent of employers with defined benefit schemes said they felt their staff did not appreciate the cost and effort of running the scheme and only 52 per cent […]

Europe: Volatile share prices create opportunities for long-term investors

Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]


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