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Lloyd George to close emerging markets offerings

Lloyd George has applied to the FSA to close two of its emerging markets funds.

The group is planning to close both its emerging markets and global emerging markets smaller companies funds after poor uptake in the offerings.

Assets under management in the pair total only £2m, which the fund house claims is not a viable amount to run the funds with.

Both funds currently sit bottom of the IMA global emerging markets sector over three years, with the emerging markets fund down 33.6 per cent and the GEM smaller companies fund down 31.1 per cent.


Fund companies set for consolidation

Ignis Asset Management sales and marketing director Jonathan Polin believes that a wave of consolidation will hit the asset management sector next year, with listed firms the most exposed.

Libor spread still too high for lenders

Three-month Libor has dropped to 3.13 per cent, a fall of 75 basis points since the start of the month. Mortgage lenders welcome the drop but say the 1.13 per cent spread is still too much to improve rates drastically.


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