IFX Capital Markets has introduced a multi-manager product providing UK retail investors with access to the foreign exchange market, which it regards as the alternative asset class of the future.The firm says the FX market was traditionally designed to make it easier for banks, funds and other institutions to trade but over the last five years it has started to be viewed as an asset class in its own right, particularly by pension funds. High minimum investments meant the FX markets were historically beyond the reach of most retail investors but IFXCM hopes to remedy this with a minimum initial investment of £10,000 for its IFX multi-manager range. It is targeting an 8 to 10 per cent net return, with a 1 per cent annual charge and 10 per cent performance fee. It will invest in the FX market on a segregated basis through managed accounts rather than a fund of funds structure. It will initially use six underlying managers but these will be complemented by a reserve list of between eight and 15 managers. Head of business development Kevin Gillespie says: “We want to construct a portfolio of traders or currency managers that are not correlated so none will lose money at the same time. We decided to use managed accounts because they are more liquid and transparent than a fund of funds. “A fund of funds comes with trading costs, redemption and subscription costs on a monthly basis. If an investor wanted to leave and others want in, we would have to buy and sell shares if we had a fund of funds but the bid/offer spread would impair performance.”
Two-thirds of Sesame members say IFAs need to attain chartered financial planner status if they are to be seen as professionals on a par with accountants and solicitors. In the latest Sesame member survey, 66 per cent of the 300 respondents agreed that the industry needs to move towards chartered status to improve its professionalism. […]
Loan trusts have classic estate freezing qualities and can benefit IHT planners by avoiding an exit charge in the first 10 years
The FSA is expected to recommend relaxing the solvency rules that require life companies to keep huge reserves of capital to mitigate potential losses.
Only a few months ago the world was worrying about too much growth, the associated rise in inflationary pressures and the consequent impact on global interest rates. These concerns led to a temporary correction in markets in May and June, with those markets that had benefited most from abundant global liquidity suffering the greatest setbacks. Indeed, many emerging markets suffered the heaviest corrections, with declines of nearly 25 per cent in some cases.
Matt Shafer, head of international distribution at Natixis Global Asset Management, tells Ignites Europe how he sees distribution changing in different European markets. Read the full article here:
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