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New Star’s Thompson in the black

Principal’s latest fund ratings see Toby Thompson’s New Star higher income fund put on its black list of underperforming funds.

Standard Life UK equity high income manager Karen Robertson makes her debut on the white list of top performers while Rathbone income manager Carl Stick slips into the middle-ranking grey list for the first time.

Principal issues its influential report twice yearly. Thompson’s fund makes the list for the first time, having built up a five-year record. Principal says it has consistently underperformed and Thompson “has been unable to deliver on the reputation he previously earned running Newton higher income”.

Chelsea Financial Services managing director Darius McDermott says: “Toby is a good manager but has a strong view on banks and it has hurt him. Carl Stick is an excellent stockpicker who we will always rate.”

Neil Woodford’s Invesco Perpetual high income fund tops the list, followed by Artemis income. HSBC income and growth, M&G income and JPM UK equity income make the black list for fourth-quartile returns over one, three and five years.


Lexicon approaches ex-Hamptons chief

Lexicon Group has approached former Hamptons Mortgages compliance director Paul Williams following his resignation last week. Hamptons is expected to announce who will replace former managing director Kevin Duffy in the coming weeks.

SCIL appoints new MD

Tony Burdin has been appointed managing director of Scarborough Channel Islands Limited, effective immediately.

Insurer gives discounts to veggies

Animal Friends Insurance says it will offer vegetarians and fish eaters a 6 per cent discount on life cover. The insurer says vegetarians are less likely to suffer from a range of chronic diseases.

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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