View more on these topics

Jupiter European fund makes cyclical move

Jupiter European special situations manager Cedric de Fonclare plans to move 10 per cent of the £551m European special situations fund into cyclicals over the next six months.

The fund is currently 70 per cent invested in defensive growth stocks and 30 per cent in cyclicals, which will rise to 40 per cent by moving out of healthcare and into industrials.

Fonclare says he has already started to add at the margins to more cyclical companies such as duty-free operator Dufry and tyre producer Nokian Tyres.

He says: “I want to tilt the balance of the portfolio between high-growth business and add slowly according to companies that are more affected by economic recovery worldwide.

“We have seen evidence of a recovery, with North America doing better than expected. This is a positive argument for equities and for European equities which are trading at a discount due to the eurozone crisis and where trading volumes in the European market have not been strong.”

Bestinvest senior analyst Ben Seager-Scott says: “For a contrarian manager, there could be benefits from rotating on to a slightly more aggressive footing but it is a tough one to call.”



80 staff in consultation at Platform

The Co-operative Bank has placed 80 staff in consultation at its intermediary lender Platform. The bank is closing Platform’s London office in Canary Wharf and relocating the departments to other locations, primarily in Manchester. A spokesman for The Co-operative Bank says: “While the mortgage market remains challenging we regularly review our approach to mortgage lending […]

Post-holiday blues?

There has been an influx of first-time buyers into the property market, says Rachael Adams, and now some experts fear the market will slump when the stamp duty holiday ends in March

Adviser contracts to be scrutinised

Legal experts say Towry’s defeat in the case it brought against Raymond James and seven former Edward Jones advisers raises questions about client ownership and will bring adviser contracts under heavy scrutiny. Last week, High Court judge Mrs Justice Cox dismissed all claims brought by Towry against Raymond James and the seven advisers and awarded […]


Repeat offender Swip leads Bestinvest “dog” funds list

Bestinvest has revealed that more than £9.2bn was held in underperforming dog funds, although this has dropped from August 2011, when the figure was £23.2bn. According to Bestinvest’s biannual “Spot the dog” report, 108 funds underperformed the benchmark by 10 per cent or more over three years to December 31, 2011. The “worst offender” was […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment