View more on these topics

Henderson adds Neptune Euro opps

Henderson’s multi-manager team has added Neptune European opportunities to all three of its independent portfolio funds of funds.

The team has held the Neptune income fund for some time and has been watching the performance of European opps, which it found to be impressive over the last three years.

European opportunities has been managed by Robert Burnett since the summer of 2004. It is constructed using a combination of top-down analysis generated by Neptune’s sector team and Burnett’s own bottom-up stock selection.

The portfolio is underweight in financials as Burnett believes they may still have further to fall and prefers consumer staples, healthcare and cash.

Henderson expects the portfolio’s defensive position to change over the next few months to reflect Burnett’s view that the European economy will stabilise towards the summer.

Multi-manager head Katy Gladstone says: “Neptune European opportunities is a fund we have been keeping our eye on for a little while. We like Rob’s pragmatic take on investment and focus on performance. In our meeting, he chastised himself for not having enough tracking error or making moves aggressively enough in 2007, as this meant he did not outperform by as much as normal. It is an attractive attitude in a fund manager and is one that is found all too rarely.”


Swip riding out the storm

Swip’s multi-manager team says it has achieved good relative returns for its multi-manager diversity and multi-manager select boutiques fund despite difficult market conditions.

Dampier set for first bond buy

Hargreaves Lansdown head of research Mark Dampier says bond valuations are so attractive that he may invest in one for the first time in his career.Dampier says spreads have ballooned to beyond the level they were in 2002 in the bear market despite the fact that we are not in a full-blown recession.He says: “There […]

Not so wide of the mark over ABI

At a recent industry event I was approached by someone from the ABI who began by saying how much he enjoyed my letters (or should that be rants?) and then went on to say that he thought my previous criticisms of his august organisation were misinformed and probably ill advised. Maybe so, but I see […]

Aegon Sipp adds charging options to group Sipp

Aegon Scottish Equitable is adding four alternative charging options to its group self-invested personal pension to suit different adviser busness models.Previously, its group Sipp could only be sold on single-priced terms but now it can be set up on any of the four structures which make up its flexi-menu proposition.The charges include a discounted annual […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment