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Tech stocks place Euro funds at top of rankings

European funds overweight in technology stocks are the top performers in

Standard and Poor&#39s fund rankings.

Funds such as Invesco&#39s GT Europe growth fund, which has about 75 per cent

invested in telecoms, media and technology stocks, performed exceptionally

well in the final quarter but suffered a downturn in the last few weeks due

to volatility. Funds which did not buy into technology saw their

performance and rankings fall. S&P says most fund managers outperformed

their benchmarks in the volatile conditions.

Mainstream pan-Europ ean funds outpaced the FTSE World Europe index by an

average of 4 per cent.

Gartmore&#39s CSF pan-European fund and the RG Europe fund were given AAA

ratings for the fourth quarter of last year. Newton&#39s pan-European fund and

HSBC&#39s pan-European equity fund were given AA ratings. In the European

funds excluding UK sector, the HSBC European opportun ities fund and SocGen

European growth unit trust got AA rankings.

S&P lead European fund analyst Debbie Boys says: “Many of the funds which

show significant high- or low-decile rankings on a 12-month view arrived at

these points solely because of their positioning to telecoms, media and

technology over the last three months of the year.”


Friendly society bond for cautious investors

Scottish Legal Life Assurance Society is offering a second unit-linkedguaranteed investment bond for cautious investors.Scotland&#39s biggest friendly society is offering a “cast-iron” guaranteethat at least the initial capital invested in the bond on the fifthanniversary of the policy will be returned.Minimum investment in the bond is £3,000.Investments of more than £5,000 made bef ore April […]

Treasury releases mortgage CAT standard guidelines

The Treasury Department released its much anticipated guidelines for Cat standard mortgage products this week. The Cat standard rating is to be extended to some discounted and cashback products. Under the original plans announced in late January, these types of mortgages were excluded.Other rules state that brokers cannot charge customers fees on Cat standard products […]

Treasury Cat stance another example of reckless action

The Treasury&#39s decision to outlaw fees for recommending a Cat-standardmortgage reveals its complete ignorance of financial services. It is theflawed logic of stakeholder taken to its absurd conclusion.The Treasury is under the impression, not just that IFAs should do charitywork in their “spare time” but that they should operate their businesses ascharities too.In practice, this […]

Lack of skilled staff worries financial industry

A new report says that a shortage of staff in the financial services sector is holding back further growth.The lack of skilled staff is a most severe situation, according to the report published by the Confederation of British Industry.Insurers, banks, building societies and securities traders are all affected by the situation, and are becoming worried […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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