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Perpetual to prosper as old guard recovers

The surge in old-economy stocks looks set to reverse the fortunes of Perpetual.

Traditional income funds are on course for a recovery as the technology

boom has been pinned back in recent weeks with investor sentiment shifting

to the traditional stocks such as retailers and brewers.

Perpetual has been criticised for avoiding technology and telecom stocks

which was the main reason for the poor performance of its UK funds.

But all the new entrants to the FTSE 100 index have fallen since their

promotion to the index last month while all the “old guard” stocks they

replaced have climbed.

Now many investment IFAs believe the likes of Perpetual, Schroder and

Newton will reap the rewards from the change in market attitude with

traditional income funds the main beneficiaries.

Bill Mott has just returned to run Credit Suisse&#39s income funds because of

the anomalies between old and new stocks.

Perpetual head of UK investments Stephen Whittaker says: “Rumours of our

demise have been overstated. We are seeing a more mature reflection of the


and what we saw between October and January will not be repeated.”

Hargreaves Lansdown head of research Mark Dampier says: “Many of the old

economy stocks have fallen so much that they cannot fall much further.”

Whitechurch Securities director Warren Perry says: “The likes of

Perpetual, Schroder and Newton will have a good run in the next few



Surplus to requirements

I am the owner/director of a small company and am in my early 50s.I have had a small self-administered scheme for around 15 years.As a result of some hefty contributions in the early years when businesswas good, it is worth around £500,000, including the company premises andsome loans to my company.However, business has been poor […]

The Exchange teams up with NTL

The Exchange is set to bring personal finance services to millions bylinking up with ntl&#39s transmission network.The partnership will give The Exchange&#39s Moneyextra. com service access tonearly six million homes nationwide through the ntl network&#39s FinanceChannel when it launches later this year.The link-up means consumers will be able to find out about and comparefinancial products […]

Bupa vow to shake up broker service

Bupa has promised to improve its service track record after it wascriticised at the Association of Medical Insurance Intermediaries&#39 AGM lastweek.An Amii survey revealed broker dissatisfaction with Bupa&#39s intermediarycusto mer service.Amii asked its 200 mem bers nine questions to establish the best and worstprivate medical insurance providers.Questions focused on specific admin issues as well as […]

Franchise without tears

Phrases can sometimes conjure up, on second reading, a differentimpression from the one they made at first sight.When Allied Dunbar launched its franchising proposition last May, theannounce ment included a statement which said: “In the event of a client&#39sneeds [being] best met by a product other than an Allied Dunbar one, theadviser can introduce other […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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