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T Bailey sees bigger Fof role for structured plans

T. Bailey fund manager Jason Britton believes that struct-ured products will play a bigger role in fund of funds offerings as managers look to add value at different stages in the market.

The firm is one of several fund of fund managers which incorporate structured products in a bid to garner stronger returns.

Britton says: “What they do is add value and reduce risk. We currently have a 2 per cent holding in an auto-callable structure within our cautious fund and 4 per cent within a mega-cap structure that sees us collect 170 per cent of the upside of the top 20 stocks in the FTSE 100.”

An auto-callable is a market-linked investment that can mature before the scheduled date if it achieves predetermined market conditions. The auto-call test on these conditions is usually carried out annually or quarterly.

Williams de Broe head of Assetmaster Laurence Boyle says his firm has seven diff-erent structured vehicles acr-oss its multi-manager range, including auto-callables.

He says: “The simple reason behind the use of structured products is to exploit the current asset classes out there. At present, bonds look unattractive, property is backed up and embattled with liquidity problems while equities are subject to huge volatility.”


Skandia says best ideas will win out in the long term

Skandia Investment Management says investors should not focus on the short-term returns from its UK and global best ideas funds after they underperformed in the past year.The funds have failed to beat their benchmarks over 12 months, with returns from the £268m UK best ideas fund falling by 17 per cent compared with an average […]

Bankhall chief Mann hits out at buyout promises

Bankhall chief executive Peter Mann has attacked the buyout proposals being offered to advisers by rival companies and brands them “projectile promises”.Mann says he supportsthe view of Falcon Group chief executive Allan Rosengren, who warned last month that he thought some “rash promises” were being made.Mann says that two types of scheme cause him the […]

New Star pumps cash into property shares

New Star is to make a multi-million pound investment in property shares after selling at a loss its biggest holding in its £1.5bn UK property fund, the London headquarters of Commerzbank.Chief executive of prop-erty fund management Roger Dossett believes real estate shares are flattening out after an over-correction in the market at the end of […]

HMRC staff set for £23m in bonuses

HM Revenue and Customs staff are set for bonuses totalling £23m a Freedom of Information request has discovered.Tory MP Michael Fallon has hit out at the performance-related pay outs claiming the departments which lost the personal details of 25 million people are receiving “rewards for failure”.The bonus payments are up 22 per cent from £18.9m […]


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