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Swip swoop for duo

Scottish Widows Investment Partnership has reunited former Gartmore managers Nick Ford and Simon Moss by recruiting them for its global developed markets team.

Ford joins from F&C where he was US smaller companies director and investment manager while Moss joins from Legal & General Investment Management’s US equity team.

The pair worked together at Gartmore where Ford ran the group’s US smaller companies fund for seven years and Moss ran UK and US money for retail and institutional clients.

The appointments bring Swip’s global developed markets team of fund managers into double figures, with Ford and Moss sharing US equity responsibilities with Ian Tabberer. Ford will also take on the group’s US smaller companies fund.

Both will be based in Edinburgh and report to head of global developed markets Ian Vose.

Vose says: ” We are delighted to have attracted two US equity specialists of Nick and Simon’s calibre to the team. Nick is a well respected US small-cap specialist who will bring his expertise to Swip’s small and large-cap funds while Simon has a proven record of outperformance, underpinned by strong stockpicking skills.”


Advantage to cull 90 jobs as Morgan Stanley makes 600 redundancies worldwide

US banking firm Morgan Stanley has felt the effects of the credit crunch as it confirmed it would be making 600 staff redundant, with 90 job losses in the UK.The 90 job redundancies will related to its UK subsidiary Advantage.Morgan Stanley’s restructuring will see it combine its three US mortgage units into one and close […]

The truth will out

Lord Lipsey’s admission that many pension and endowment policyholders may have been wrongly compensated will come as little surprise to advisers, who have paid the price of ‘false memory syndrome’. By John Lappin

Left in the dark as day of Mifid approaches

Legal uncertainties are arising over the readiness of some EU countries for the impending Mifid deadline – November 1 – which could lead to foreign investment firms having to suspend business within the UK. At the same time, the FSA has renotified its extension of the Mifid rules in four key areas – the conditions […]

Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.


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