View more on these topics

Rathbones’ Coombs makes first allocation to India

Rathbones head of multi-manager investments David Coombs has made his first allocation India as he feels the country stands to benefit from the energy revolution in the US.

Coombs made an initial allocation of 2 per cent in the £7m Rathbone Enhanced Growth fund by buying into the £492.3m JP Morgan Indian investment trust at a discount to its net asset value.

Coombs says: “I am trying to look for beneficiaries of changing trends. I thought of India because it is an economy that will benefit from lower energy costs – the UK would be another funnily enough.”

Mindful of the country’s setbacks, Coombs is optimistic of its long-term future and points to India’s large workforce demographics, good rule of law and stable economy for his reasoning.

Coombs says: “This is the first step to a longer term position. Hopefully after the election we will get a clearer idea of how the economy will develop.”

Chase de Vere head of communications Patrick Connolly agrees the energy revolution represents a longer term benefit and acknowledges the sentiment surrounding India.

Connolly says: “There is a lot of negative sentiment around India and as a result there have not been many buyers. The Indian economy has had a difficult time and there is a strong argument there is good value there.

“If you are using a multi-manager, you want a manager who is willing to go out and find value. It is positive for Coombs that he is willing to do that.”

Recommended

3

Tenet sets aside £4.5m over Arch cru and Keydata

Tenet has set aside a total of £4.5m to cover the cost of compensating investors under the Arch cru redress scheme and its settlement with the Financial Services Compensation Scheme over recommending Keydata products. The company has not provided a breakdown of how much of the provision relates to Arch cru and how much concerns […]

Multi-manager’s View: Turning the search for yield on its head

Ever since the collapse of Lehman Brothers in 2008 and the resulting global financial crisis, investors have naturally become more risk averse. This is clearly visible when observing flows into risk-targeted funds, where those at the lower end of the volatility scale are proving far more popular than those that have a much larger weighting […]

6

30 IFAs set for mass FOS referral over structured product charges

StructuredProductReview.com is mounting a campaign with the support of 30 adviser firms to refer at least 500 complaints against Reyker Securities to the Financial Ombudsman Service over charges levied on former Merchant Capital investors unless they are lowered. Reyker took over as custodian of Merchant Capital plans after the collapse of the structured products firm in […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment