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Skandia raises Japan holdings

Skandia has raised its £848m global dynamic equity fund’s exposure to Japan from a neutral to an overweight position as it expects Japanese firms to benefit from the weakening yen.

Portfolio manager Francois Zagame has moved to a 1 per cent overweight position in the fund. He has been adding to Japan since February.

Zagame says: “I expect the weakening yen to lead to the relative outperformance of Japanese equities against other equities in the next three to six months.”

Investment Quorum chief investment officer Peter Lowman says: “Investors need to be aware that while the market is going up, you could be looking at a loss in currency terms, so investors should hedge back into sterling.”


Govt mutual launched to administer civil service pensions

The Government has launched a mutual to administer the pensions of the 1.5 million members of the civil service scheme. MyCSP’s mutual joint venture model gives employees a 25 per cent ownership stake, representation at board level and a share in the profits. MyCSP will administer the pension scheme for seven years, with the option […]

Jupiter launches strategic reserve fund

Jupiter Asset Management has launched the Jupiter strategic reserve fund, first revealed by Money Marketing, to be managed by multi-asset pairing Miles Geldard and Lee Manzi. The multi-asset fund is an onshore version of its Jupiter strategic total return Sicav and has an emphasis on capital growth and low volatility. The fund invests in liquid […]

BoE’s David Miles says his vote for more QE is justified

Bank of England Monetary Policy Committee member David Miles says his decision to vote for more quantitative easing earlier this month looks to be justified due to weakness in the economy. Miles was the only member of the MPC to call for an expansion of monetary policy earlier this month. Fellow MPC member Adam Posen […]


IMA: We need a fairer compensation scheme (not the reverse)

The FSA is about to take on a very important task – reforming the funding arrangements for the Financial Services Compensation Scheme.  This scheme pays consumers when a firm goes into default owing them money.  It is the industry that foots the bill for the Scheme’s compensation payments – so the key questions are who […]


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