View more on these topics

Swip UK income fund set for quant shift

The Swip UK income fund is one of the funds set to move to a quantitative strategy, Money Marketing understands.

In April, Swip said it is to cut 23 roles as part of moves to reposition its £54bn equity business. This involves some funds moving to a quantitative portfolio construction, where all rebalancing decisions will be made automatically while other smaller funds will be closed.

Last month, it announced the departure of head of UK equities Peter Cockburn. His funds, the £118m UK opportunities and £280m UK select growth funds, have been passed to James Clunie.

A Swip spokeswoman would not confirm the funds moving to a quantitative strategy. She says: “A number of Swip managed UK equity funds are transitioning to a quantitative portfolio construction methodology.The transition is being managed by the global equities team.”

But Swip has confirmed that the £49m UK smaller companies fund will continue to be actively managed. It is managed by the firm’s global equity desk.



IMA: FSA’s governance of MAS must be improved

The Investment Management Association says the FSA needs to improve its governance of the Money Advice Service and that financial services firms should be involved in holding it to account because they provide its funding. The IMA’s response to the Treasury select sub-committee’s inquiry into the service says the regulator’s “weak” governance to date could […]

Director banned and fined over Ucis sales

The FSA has banned and fined P3 Wealth Management director Patrick O’Donnell £60,000 for advising clients to invest in unregulated collective investment schemes and other non-mainstream investments when they were unsuitable. The FSA said O’Donnell, who was based in West Lothian, Scotland, did not understand the regulatory restrictions on the promotion of Ucis, which state […]

Skandia reduces trail on M&G and Invesco bond funds

Skandia has cut the level of trail commission paid to advisers on four bonds from 0.35 per cent to 0.25 per cent, claiming the current level of trail is unsustainable. Trail commissions on the Invesco Perpetual corporate bond, Invesco Perpetual global bond, M&G corporate bond and M&G strategic corporate bond have been cut in a […]


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