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Steer puts first short into Artemis UK growth

Tim Steer has added his first short to his £301m Artemis UK growth fund after its remit changed to allow short positions of up to 10 per cent.

After successfully shorting insolvent stock Connaught in his hedge fund, Steer has shorted Robert Wiseman Dairies in UK growth.

The manager has questioned the firm’s profit margins after some supermarkets cut milk prices, from £1.53 to £1.25 in the case of a four-pint carton.

“The man will be wise indeed to make money at such prices, and that of course is Tim’s bet,” Artemis says in a note.


Goldman Sachs Intl failed to tell FSA of US probe

The FSA has fined Goldman Sachs International £17.5m for failing to tell the regulator it was under investigation in the US. The FSA says that Goldman Sachs International failed to ensure it had adequate systems and controls in place, resulting in a failure to notify the FSA of an investigation by the Securities and Exchange […]

Inflation holds in August

The Consumer Price Index remained static at 3.1 per cent in August, according to the Office of National Statistics. The ONS says CPI remained unchanged last month but the Retail Price Index slowed to 4.7 per cent from 4.8 per cent in July. Bank governor Mervyn King will once again write to the chancellor George […]

TISA to head up DIFs regulation debate  

The Tax Incentivised Savings Association has called for the industry to come together to address the FSA’s concerns around distributor-influenced funds. The FSA has recently expressed its concerns that firms using DIFs should ensure that the investments are in the best interests of each client. Within the RDR the regulator also stressed that the pricing […]

Embrace simplicity!

By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]


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