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Managers deliver on Witan Pacific

An underweight position in Japan contributed to the Witan Pacific investment trust’s positive performance over the six-month period to July 31.

The multi-manager investment trust almost doubled the returns produced by its benchmark, the MSCI AC Asia Pacific Free Index, in sterling terms over the period. The trust returned 10.8 per cent, outperforming the index by 5 per cent over the period.

The trust has only two underlying managers, Aberdeen Asset Management and Nomura Asset Management, and both have benefited from underweighting Japan, which has lagged other markets. Aberdeen delivered a total return of 13.8 per cent in the six months to July 31 and Nomura returned 8 per cent due to positive stock selection coupled with its underweight to Japan.

Marketing director James Frost says: “There is no need to add to or change the managers as they have performed well.”


Prime opens PI division for intermediaries

Professional indemnity insurance broker Prime has launched a new division focused on the insurance needs of advisers. Prime IFA Solutions will provide advice on risk management and professional indemnity insurance and claims it can secure “preferential rates and exclusive offers” from insurers for IFAs. Jamie Newell, who will head the division, is joining Prime from […]

Consumers should know difference

Re the articles in last week’s MM headlined, Just 31% of public say they’ll pay for advice, and, 95% of staff want advice on retirement, leaving aside the old Spike Milligan adage that 74.3 per cent of statistics are made up on the spot, what are we to read into these numbers? Could it be […]


The FSA’s professional foul

If something is good for consumers and you regulate it too closely and thus stop it being widely available, you are causing consumer detriment. The FSA is about to do something that will cause many consumers to suffer destitution. It seems too late to stop it. This is a cautionary tale. It starts, as ever, […]


Hoban should think again over CPMA mandate

Treasury financial secretary Mark Hoban has rejected Money Marketing’s call for the new regulator to be given an objective of looking to boost saving rates and protection levels. Speaking at the Conservative conference this week, Hoban said such a move would be wrong as it would set the Consumer Protection and Markets Authority up to […]

A DGT with 100% access and 100% discount?

Clare Moffat, Technical Manager, looks at the benefits of pensions from an IHT perspective. 100% access and 100% discount – what type of wrapper could this be? A pension! Post flexibility there is 100% access (for those over 55) and normally pensions are inheritance tax (IHT) free. With flexibility the options available on death mean […]


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