View more on these topics

Swip riding out the storm

Swip’s multi-manager team says it has achieved good relative returns for its multi-manager diversity and multi-manager select boutiques fund despite difficult market conditions.

The company says the diversity fund was down by 0.4 per cent as at March 7 while the select boutiques fund was down by 7 per cent over the same period. The FTSE All Share was down by over 10 per cent during the same period.

The diversity fund is split a third each in equities, bonds and alternatives.

Bonds have not been helpful but the team is dealing with this by underweighting the credit markets so that there is a small position in bonds with the remainder in cash.

The performance of this part of the portfolio has been offset by big wins in commodities through Schroder agricultural and JP Morgan natural resources funds.

Hedge funds have also been positive. Swip says its holding in the Dexion absolute alpha fund has performed well due to increased market volatility, but this volatility has not been kind to the fund’s underlying equity managers. The majority of Swip diversity’s equity managers have outperformed their benchmarks but market turmoil has made it difficult to achieve positive returns on an absolute basis.

The select boutique fund has been wrestling with this problem despite its focus on managers who target absolute returns. Swip manager Simon Wood says: “All the managers in the select boutiques fund have an absolute return mindset but long-only managers do not get much protection if the market is in freefall.”


Business boost for PMS

Premier Mortgage Service ach-ieved over £780m more business applications in January than it expected, totalling just under £4bn for the month.Managing director Joh Malone says PMS was pleasantly surprised by the figures but February’s figures are likely to be lower due to the withdrawal of products and the cost of borrowing.He says: “The purchase market […]

Ifs sees 12% rise in Cefa candidates

The Ifs School of Finance says there has been a big rise in the number of people taking its entry level certificate for financial advisers.Head of financial regulation Mark Roberts says the number of people taking the Cefa in 2007 rose by 12 per cent on the previous year.The average age of candidates is 33, […]

‘Action is needed soon to slash base rate’

Wave director of sales and distribution Mehrdad Yousefi says the Bank of England’s monetary policy committee needs to cut bank base rate by 0.5 per cent by early summer to boost the struggling mortgage market.He says: “We need interest rates to be reduced from 5.25 per cent to 4.75 per cent by early summer. That […]

Rowanmoor picks pension chief to lead product drive

Rowanmoor Pensions has appointed former Capita SIP Services pensions technical marketing and development manager Robert Graves to the newly created role of product development manager.Graves will be responsible for overseeing the development of the product pipeline and the innovation of new products and services.He is a committee member of the Association of Member-Directed Pension Schemes […]


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm