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Morley appoints investment sales head

Morley Fund Management has appointed Charles Hoblyn as head of UK investment sales to head up the team responsible for the sales of investment funds to the discretionary market. He will report to head of UK retail Alan Gadd and manage the development of further distribution channels for Morley linked products. Hoblyn joins from Meinl Capital Markets where he was responsible for sales and product development of UK based hedge funds.

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Newcastle Building Society – Guaranteed 5 Star Bond Deposit Account

Thursday, 5 September 2002 Type: Guaranteed equity bond Aim: Growth linked to the performance of the Credit Suisse bond fund US$, Fidelity European growth, Franklin Templeton mutual beacon, IFDC Japan dynamic and Merrill Lynch offshore sterling trust UK Minimum-maximum investment: £1,000-£500,000 Term: Five years Guarantee: Capital returned in full regardless of the performance of the […]

FSA to take &#39kindly&#39 stance on PI insurance for IFAs

The FSA plans to soften its attitude towards IFA firms unable to get compliant PI cover as it takes steps to address what it has identified as a serious concern. IFAs having difficulty getting PI cover because of the state of the market rather than past wrong-doings are to be treated more “kindly” by the […]

Two new fixed rates from Chelsea

Chelsea Building Society has announced the launch of two fixed rate mortgages available from August 31. The first will be capped at 2.99 per cent for two years and the other fixed at 4.69 per cent for three years. Both will revert to the Society&#39s standard variable rate following the fixed periods. Chelsea&#39s SVR is […]

Chartwell axes Cockerill and admin staff in &#39tough market&#39

IFA Chartwell Investment Management has axed several of its staff – including high-profile head of discretionary administration Tim Cockerill – in a cost-cutting exercise. Cockerill and four other staff were told last week that their jobs were to go, with the IFA struggling in the present market conditions. The remaining staff will collectively assume the […]

Japan Economic Insight

James Dowey, Chief Economist, and Paul Caruana-Galizia, Economist

The conventional wisdom is that following a roughly 50 per cent rise in the stock market in 2013 in Yen terms, the Japan trade is over and done*. So the story goes, those big gains were due to a one-off boost from quantitative easing (QE) and a depreciation of the Yen — policies that one should think of as a palliative to Japan’s economic weakness, but not a cure. Rather the cure, and by implication the necessary condition for a longer-term investment case, is deep structural reforms — a painstaking re-weaving of Japan’s economic and social fabric, no less. The story continues: this is a much tougher test than launching a blast of QE, and one that prime minister Shinzo Abe, although well intentioned and well supported by the public thus far, is likely to fail. Stick a fork in Japan, it’s done…continue reading

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