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Product Matters: Newton’s theory

The bursting of the tech bubble proved to be a pretty painful experience for benchmark-aware funds, the groups that run them and their investors.

Plummeting fund sizes led to falling revenues from annual management charges and investors became disillusioned with the fact that fund managers did not have mandates flexible enough to halt the slide in fund values.Enter focus funds, unconstrained, best ideas funds, most of which have so far concentrated on the UK.

Few concentrated funds are able to reap their rewards from the global stage. Newton already has a good track record with its focused approach to the UK opportunities fund but has since extended this with the launch of the global opportunities fund.

Alex Stanic manages the fund and has already stamped his mark on a similar portfolio run offshore, Mellon global intrepid portfolio, which he has run since June 2004, although the focused approach was only introduced in October.

Typically, Newton’s fund will contain 40-60 holdings but with a minimum of 30 and, unlike managers of more mainstream global funds, the Newton team is also prepared to think outside the normal asset allocation box. Newton will have to fend off competition from Neptune global equity and Gartmore global focus fund to gain a share in this market but I am sure that others will follow.


EPP and SSAS boost

Under the current draft- ing of the Pensions Act, trus-tees of these types of pension schemes will need to understand pension legislation, investments, scheme documentation and tax reporting by A-Day. But Standard Life has been told by the Pensions Regul- ator that trustees of EPPs and SSASs will be exempted, with an announcement expected soon. […]

Tories step up political row over the regulator

The row between Prime Min- ister Tony Blair and the FSA shows that the Government is in disarray over the function of the regulator, say Tory and LibDem front-benchers. Conservative Shadow Fin- ancial Secretary Mark Field claims that the contrast between Tony Blair’s “calcu- lated” attack on the regulator in May and the Treasury’s sta- […]

Ex-burglar arming Zurich with ways to curb holiday crime

Zurich has hired an ex-burglar to advise its home insurance policyholders on how to avoid their properties being crowbarred by thieves when they are on holiday. Bob Turney, a reformed alcoholic and ex-drug addict who has served time for bur-glary and armed robbery, now works as a part-time consultant for the Probation Service. He is […]


Britain's “Forgotten Army”: The collapse in self-employed pension membership – and what to do about it

Pension scheme membership among employees has risen by more than five million in the past four years because of the policy of automatic enrolment into workplace pensions. But Britain’s army of 4.4 million self-employed people, who account for one in seven of the workforce, are not covered by automatic enrolment. Pension coverage among the self-employed […]


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