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Renaissance sets £500m goal for Ucits

Renaissance Asset Managers has set a target of more than doubling the funds under management in its Ucits range to reach £500m by the end of the year.

It currently has £220m in assets in Ucits. The company is also aiming to reach £1bn by the end of 2012.

The company is to focus on distribution in the UK after recruiting former Cofunds head of strategic relations and Fidelity FundsNetwork sales director Ron Gillies as head of UK sales earlier this month.

It is planning to add sterling share classes to the six funds in the range to make the funds more attractive to UK investors.

Gillies says: “We have got the products and need to focus on distribution. UK investors tend to manage their investments in sterling and for many advisers, a sterling share class is a prerequisite in their selection process.”


Bank of England defends monetary policy

Paul Fisher, the Bank of England’s executive director for markets, has defended the bank’s decision not to tighten monetary policy when price shocks first caused inflation to exceed the bank’s targets. In a speech delivered to the Global Borrowers and Investors Forum today, Fisher said had the bank tightened policy at the time the shocks […]


Cameron wins Greek bail-out battle

Prime Minister David Cameron has succeeded in his fight to limit the UK’s contribution to a second Greek bail-out package. The current package, which amounts to around £98bn, is a combination of funds from eurozone countries and the International Monetary Fund. There had been suggestions cash from EU-wide funds may be used when a second […]

Adviser Fund Index

The removal of a number of generalist emerging markets funds from the Adviser Fund Index portfolio may demonstrate a more nuanced view. Last year, net private inflows into emerging markets totalled £559bn and flows are expected to exceed £620bn this year, according to the Institute of International Finance. Whether the stockmarket performance will justify this […]


Costs for firms doubles to £100m in four months

The estimated cost for regulated firms to prepare for the changes to the regulatory system has almost doubled in four months to £100m. The Treasury’s impact assessment in its February consultation paper on the switch put the total estimated cost of the changes at between £50m and £60m. But the Government’s latest consultation document, published […]


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