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Swip launches European high yield bond fund

Scottish Widows Investment Partnership has launched a European high yield bond under the management of Steve Logan and Lesley O’Neill.

The fund will be managed along a best ideas approach with Logan and O’Neill targeting a portfolio of around 75 stocks. In addition to a European bias, the fund will also tap into ideas from Swip’s US high yield team, based in New York.

Logan is head of European high yield, while O’Neill is investment director, European high yield at Swip.

Logan says: “From a market perspective, we believe the European high yield asset class will, over the long term, continue to demonstrate strong growth driven by issuers’ desire to secure long term capital away from the banking sector.

“For investors, the high yield asset class offers the prospect of a strong risk adjusted return and a high level of income that is diversified from equities and other fixed income segments. As stock pickers, we believe the High Yield market currently offers investors a number of exciting opportunities.  A recession in Europe is already priced into the asset class and the high quality end of the market looks fundamentally cheap.”


Octopus seeking 10 fund managers to boost teams

Octopus Investments is looking to fill 10 fund manager roles following the completion of its staff review that has seen head of multi-manager Lothar Mentel made redundant. The firm announced yesterday that chief investment officer and head of multi-manager Lothar Mentel has left the business, alongside five other staff in customer services and operations. Octopus […]


FSA admits RDR focus had role in RBS debacle

The FSA has admitted that it played a big role in Royal Bank of Scotland’s near demise in October 2008 and gave too much attention to the RDR and treating customers fairly at the expense of supervising banks. In a report into the bank’s failings before its £45.5bn injection of state aid, chairman Adair Turner […]


Aifa calls for review of FSA life settlements move

Aifa is calling for a review into whether the closure of EEA Life Settlements Fund was a direct result of the FSA’s proposal to ban life settlement funds from being marketed to UK retail investors. The FSA published a guidance consultation on life settlements, or traded life policy investments, last month. The regulator branded TLPIs […]


Downgrade UK, says French central banker

Christian Noyer, governor of the Banque de France, has called on rating agencies to downgrade the UK first ahead of France. In an interview with French newspaper Le Telegramme, Noyer, who heads the French Central Bank, says rating agencies should downgrade the UK, which he says has a greater deficit, “as much debt”, higher inflation […]

State of the markets: global growth

In conversation with journalist Alexis Xydias, Artemis Global Growth Fund manager Peter Saacke discusses the state of global markets and how he is positioning his fund. Peter gives his views on the growth potential of US, Europe and emerging markets, each of which is on a different stage of the road to recovery. And with a […]


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