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Jupiter Merlin Growth cuts cash for developed markets

The Jupiter Merlin Growth fund has cut its holding in cash from 11 per cent to less than 1 per cent after piling into developed market equities.

According to FE Analytics, the Merlin team increased its exposure to UK, Europe and US equities.

The team increased its UK exposure from 29 per cent to 34 per cent between the end of August and the end of September. It increased its North America exposure from 21 per cent to 24 per cent during the same period.

There was a significant rise in European exposure, up from 2 per cent to 7 per cent, while exposure to the international and Pacific Basin equities regions were also beefed up.

The latest fact sheet commentary says: “The most important decision we have made in recent weeks is that we have decided not to fight the Fed; Ben Bernanke has shown us his hand.

“His plan is to do all he can to make people feel wealthier through improving asset prices. His mission is to get US house prices and the stock market up and in so doing he hopes to create the feel good factor that will make people more willing to go out and provide demand.

“At some point the Fed will have to withdraw liquidity and remove the punchbowl, but there is no sign of this happening until 2015 at the earliest.

“We have therefore reduced cash to low levels and increased our exposure to equities and corporate and emerging market bonds where appropriate. When the facts change we will endeavour to change our minds in a timely fashion.”


Fidelity’s Greetham: US is decoupling from Europe

Fidelity Worldwide Investments asset allocation director Trevor Greetham has moved to a large moderately overweight position in equities and a heavy overweight in North America. Greetham (pictured) says the US is primed for a strong growth and is in the process of decoupling from Europe, which still has many problems to resolve over sovereign debt. […]

MEPs vote against Europe-wide commission ban

The European Parliament has voted against a Europe-wide ban on adviser commission under Mifid II. Last week, MEPs approved a ban on commission for independent financial advisers but opted only for more transparency for other advisers. There were fears a decision not to ban commission at EU level could scupper the UK’s RDR plans, but […]


MM leader: Adviser charging set to get messy

Just over two months until the start of the FSA’s RDR adviser charging regime the regulator has felt it necessary to write to platforms and providers raising concerns about the way charges will be disclosed to clients. The FSA is worried some clients who have their AC facilitated through a provider may not be clear […]


Tom Baigrie: The consultants worth listening to

It saddens me that so many of the best brains in our industry languish in the career after-life that is consultancy. If only they would leave their ivory towers and re-join us at the coal-face our industry would be so much better off. Of course there are a few 180° men (you head in exactly […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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There is one comment at the moment, we would love to hear your opinion too.

  1. What’s this? A statement of confidence in the future? Well done Mr Chatfeild-Roberts. For what it’s worth I’m with you.

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