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Bye-bye, Miss American Pie — Hello, Les Femmes d’Alger (Investment Insight)

By Richard Dunbar, Senior Investment Strategist, Investment Solutions, Aberdeen

The world’s larger auction houses have seen a lot of action over the last few weeks. This is a market that we don’t normally comment on, although much of what is going on is arguably symptomatic of something that we do regularly comment on: quantitative easing (QE).

At Christie’s in New York, the manuscript to Don McLean’s 'American Pie' recently went under the hammer, raising an astonishing $1.2m. More recently, Picasso’s famous and beautiful picture, 'Les Femmes d’Alger', set a new record figure for the price of a piece of contemporary art fetching an even more astonishing $179m. Surprisingly, there may be common themes behind both purchases.

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Kames Capital has launched two absolute return bond funds in response to demand following the closure of its £2bn bond fund. The new Kames Absolute Return Bond Global and Kames Absolute Return Bond Constrained funds aim to generate low risk, absolute returns over a rolling three-year period “irrespective of market conditions”. The global fund, which will […]

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Openwork branded ‘selfish’ as networks rally round Apfa

Networks have branded Openwork “self-centred” and “naive” for its decision to leave Apfa, as they reaffirm their commitment to the trade body. Yesterday Openwork announced it is leaving Apfa, arguing its “size and scale” means it can engage with policymakers and the regulator directly. Sesame will also leave Apfa at the end of July when […]

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Labour’s Andy Burnham: Bring forward EU vote to 2016

A UK referendum on EU membership must be brought forward to 2016, according to Labour leadership candidate Andy Burnham. Shadow health secretary Burnham, who is one of four candidates running for Labour’s leadership following the resignation of Ed Miliband, described himself as staunchly pro-Europe, and pledged to embrace public desire for a vote. David Cameron’s […]

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Leeds Building Society loosens interest-only criteria

Leeds Building Society has loosened its interest-only criteria and now lends up to 75 per cent LTV on a part and part basis. Previously, the lender offered interest-only mortgages to a maximum LTV of 50 per cent. Now, however, it will lend to 75 per cent LTV, with a maximum of 50 per cent LTV […]

Life begins at…

By Fiona Holmes, proposition communications manager Having reached a certain age (it’s the new 40 by the way), I’m having to come to terms with the fact that my peers and I aren’t as immune from illness or death as we’d like to think. That’s the problem with 30 being the new 20 and 40 […]

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