View more on these topics

JO Hambro re-opens European funds

JO Hambro Capital Management has re-opened its offshore £474m continental European and £178m European funds after re-evaluating the capacity levels on the range.

Both funds closed back in March 2006 after reaching their initial capacity of £500m, however managers Rod Marsden and Paul Wild now believe that level can be upped to £1.2bn.

Following back testing of the funds, the group has acknowledged that closure at £500m was a conservative move, given the growth of the UK market.

Marsden says the funds can manage the additional capacity without performance being affected, with research from the group indicating the funds would have stayed top-quartile over three, five years and since launch should they have been managed with the larger proportion of assets.

Hargreaves Lansdown analyst Meera Patel says: “These are arguably two of JO Hambro’s biggest funds and considering their performance I am surprised the group has not made a bigger song and dance about it, particularly when you consider the performance of some of the other funds in the range.”

Recommended

Deadline for Northern Rock bids today

Virgin, Olivant and Northern Rock’s management are expected to submit formal bids for the collapsed bank to meet today’s deadline.Northern Rock borrowed £25bn from the Bank of England last year after its reliance on the wholesale money markets put it into financial difficulties when the credit crunch hit.With a private buyer, the Government wants to […]

Miton enjoys ride in the theme park

Miton Asset Management says the consistent outperformance of its special situations fund over the last 10 years is due to long-term asset allocation without following any particular investment style or benchmark.

Six-month notice on Axa property fund

Axa is the latest asset manager to impose a six-month notice period on its £2bn life and pension property fund to tackle liquidity problems.

Miles calls for Fannie Mae-style agency

Morgan Stanley chief UK economist David Miles has called on the Government to introduce a Fannie Mae/ Freddie Mac-style agency to deal with emergency lending situations.The Institute of Fiscal Studies and Morgan Stanley 2007 Green Budget report, published last week, proposes creating a Government-backed agency,or using an existing one to buy or lend against the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com