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Potter and Burdett play cautious game on equities

Thames River co-heads of multi-manager Gary Potter and Robert Burdett are to continue adopting a cautious outlook on equities, preferring to hold high levels of cash and other asset classes.

The pair, who joined Thames River from Credit Suisse last year, believe that equity markets are likely to remain volatile for the forseeable future with downside risk somewhat contained by expectations of a further interest rate fall.

Potter and Burdett have reduced their geographical asset allocation to the developed world in favour of developing markets, with the smaller quota to be used in Japan and the US as oppose to the UK and Europe.

The pair are particularly keen on value in US equity markets given the self-help being administered to stimulate the economy. Meanwhile, Japan represents good value relative to other markets and its own track record.


Money Partners to cut up to 65 jobs

Money Partners has confirmed it is to enter into a consultation with employees which could see up to 65 job cuts. The consultation, which is expected to commence on or around 26 March, will last for a period of no less than 30 days. No redundancies will be made during this time.The majority of the […]

John Tiner joins New Star as non-exec director

Former FSA chief executive John Tiner has joined New Star Asset Management as a non-executive director.New Star net revenue is up 29 per cent on last year to £173.3m with profit before tax, interest, exceptional items and amortisation of intangibles was up 36 per cent to £98.1m. Assets under management are up 9 per cent […]

EIS plus into the power of music

The Power Amp Music EIS fund is an enterprise investment scheme fund aiming to raise £10m to develop, produce and promote a portfolio of 20-30 music artists.

Budget’s hidden agenda

Well, for those of you who thought Gordon Brown’s last Budget delivery was boring, the latest Chancellor took us to subterranean levels.

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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