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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.”


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.

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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 […]


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