The Schroder S&P cautious managed distribution portfolio has had a 5 per cent holding in the F&C property trust since it launched in March.But the F&C trust is trading at a big premium to its net asset value and the Schroders multi-manager team believes that the Insight Foundation property trust has better scope for future growth because it is trading close to its net asset value. The Insight fund was established in 2004 and invests in the retail, industrial and office sub-sectors of the commercial property sector. Until recently, the S&P cautious managed fund was the only fund in the multi-manager range to have property exposure but the Schroders multi-manager team now feels that the other two funds in the range should have property exposure to provide a greater degree of diversification. Head of multi-manager Andrew Yeadon says: “We like to have some property in our portfolios to diversify across asset classes. But some property investment trusts are trading at a pretty big premium to net asset value and we do not want to hold them for the sake of it. “The F&C trust had got to a big premium so we sold out of that. If things get too expensive and overpriced, we will sell them. In some areas, we can get in at a price that is attractive and we already knew we were going to invest in the Insight fund.”
Investec has appointed Mark Wynne-Jones from UBS Wealth Management to join its UK contrarian team, reporting to Alastair Mundy. Wynne-Jones was director of wealth management research at UBS and was previously a fund manager at Cavendish Asset Management.
BBB is facing a raft of problems.
IN Partnership celebrates its fifth anniversary this year and says it will double in size by 2008. Group chief executive Kevin McDonagh, group chairman Stanley Lovell and group commercial and legal director Julian Cole set up the Horsham-based network on July 1, 2000 under the Inland Revenue Enterprise Incentive Scheme. The network has its own […]
Rooftop Mortgages launches a range of 3 year capped rates.Available on its Light, Medium, and Heavy schemes, including Right to Buy and Buy to Let, rates start from just 6.36 per cent. Sales & marketing director Alison Beech says: “A capped rate offers a very attractive alternative to the many fixed rates available in the […]
Head of the Portfolio Research and Consulting Group, James Beaumont says his group is dedicated to providing a bespoke service and an analytical review of model portfolios.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]