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Midas moves back into UK equities

Midas Capital has used the recent stockmarket falls to feed money back into markets after going underweight in UK equities for the first time in three years as a result of recent volatility.

The company’s immediate response to the volatility was to reduce its core holdings in UK equities to underweight positions as it took a cautious view on the asset class.

It also let cash levels in its portfolios accumulate to 6-7 per cent and began buying short-dated gilts as it felt this area of the gilt market was more attractive than equities.

Mid-way through August, Midas started to bring its UK equity exposure back up to the neutral position. Although there remained an element of doubt and uncertainty in the markets due to the credit crunch, it felt UK equity valuations had reached levels that the firm viewed as attractive.

Head of business development David Thomas says: “Having taken a more cautious stance in recent weeks, we have now taken advantage of market falls to add selectively to our UK equity weighting in blue-chip stocks.”


Axa UK acquires employee support specialist ICAS

Axa UK has acquired ICAS International Holdings, a global provider of employee support and well-being services.Axa says the move will help its healthcare division, Axa PPP, to strengthen its presence in the growing market for employee support and well-being services.ICAS has over 900 corporate clients, 50 of which are multinational, and 1.5 million employees covered […]

Prime numbers

Some lenders fear that the sub-prime crisis and the credit crunch may begin to have an impact on prime mortgages as well.

Experts who helped draft RDR plans warn of perils

The FSA has come under attack from leading retail distribution review committee members, with True Potential’s David Harrison warning that it endangers the IFA channel when consumers need hundreds of thousands of new advisers.Two committee chairmen, Royal London chief executive Mike Yardley and Thinc Group’s Roderic Rennison, have warned that more incentives must be offered […]

RSA launches new PI cover for SMEs

Royal & Sun Alliance has launched a new Professional Indemnity cover for small and medium sized businesses.RSA recently acquired SME Pi specialist Martello Underwriting Ltd which is allowing the insurer to extend its PI offering to a wider range of professions in the SME market.PI protects a business’ interests against claims for error or professional […]

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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.


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