View more on these topics

Legg Mason&#39s Miller beats the index for 11th year

Legg Mason&#39s star value fund manager Bill Miller has outperformed the S&P500 index for the 11th consecutive year.

Miller, who has run Legg Mason&#39s flagship $11.7bn (£8.1bn) Value Trust since 1990, is the only manager to have outperformed his benchmark for more than a decade.

While Miller&#39s value trust is only available to the US market, he also co-manages Legg Mason Investors&#39 American assets investment trust with LMI head of investment trusts Alan Kerr.

Legg Mason chief executive Chip Mason says: “Legg Mason is very proud of Bill Miller and his impressive accomplishment, which further dem-onstrates the depth of talent and market insight he and his team bring to the fund during a very challenging investor climate.”

Miller says: “We have been through two tough years in 2000 and 2001, the first time in 27 years that the S&P500 index has declined two years in a row. While we are pleased that the value trust team has been able to add value by outperforming the index once again in 2001, our focus has been and will continue to be, to provide attractive long-term growth of capital for our shareholders.”


&#39Fee increase may see 10% leave DBS&#39

DBS could lose up to 10 per cent of its members in the wake of last month&#39s 30 per cent fee hike, says a City analyst.It claims Misys&#39 IFA operations will be hit by increased competition from IFA service providers such as Bankhall getting significant backing from major product providers.The Commerzbank analyst&#39s report, seen by […]

Schroders gets into gear for tax-free income

Schroders&#39 income Isa aims to provide a tax-free income of 5.8 per cent a year and the potential for capital growth by investing in the ordinary shares of the recently introduced Schroder split investment fund.This investment trust invests 75 per cent in stocks listed on the FTSE 350 index. The remainder goes into a portfolio […]

First State fund buys British

First State Investments has established the British mid-cap fund, an Oeic that aims for capital growth by investing in medium-sized companies within the UK.The fund is part of First State&#39s British range, which consists of three other funds, British smaller companies, British all companies and British opportunities.The British mid-cap fund will consist of between 60 […]

Ways and means of the pension credit

The Government has finally unveiled detailed proposals for the pension credit but what does it all mean for advisers? The first point to note is that the pension credit has been renamed in the Bill which sets forth the proposals. Now we should talk about state pension credit to avoid any possible confusion with the […]

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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