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The Daley Update

Dresdner RCM Global Investors has appointed Lucy Macdonald as its new head of global equities. She joins from Baring Asset Management, where she was head of global media and telecoms. She had been with the firm for 16 years. In her new position, which she will take up on October 22, she will report to Dresdner&#39s chief investment officer Mark Phelps.

Gartmore has appointed Simon O&#39Donoghue and Mike Murray to its UK intermediary sales team. O&#39Donoghue joins form Invesco, where he worked for seven years, and will be responsible for sales in the Channel Islands, Dublin and the Isle of Man. Murray joins from Scottish Widows, having worked for Hill Samuel for almost 20 years, and will now be responsible for Gartmore intermediary sales in the North of England. Both will report to head of UK retail intermediaries Simon Goodge.

Global growth funds increased their exposure to North America over the six months to July 2001, according to new data from Lipper. Sixty-one per cent of global growth funds increased their exposure to the sector over the half year, while just 20 per cent reduced it. The shift in asset allocation appears to have paid off, with the biggest increases in exposure to the US, producing the top returns. Lighter exposure to UK markets also paid off, with the sector&#39s top-quartile funds holding around 5 per cent less in the UK than their peers.


PMI provider appoints new boss

PMI provider Healthcare 4 Life has announced the appointment of Wendy Young as its new chief executive. Young has been with the company since March 2001, previously working as a consultant.Healthcare 4 Life has also added two new benefits, home nursing care and parent accommodation, to its &#394 in 1&#39 group policy.

Dresdner hit again as Lygo is third star to leave

Dresdner RCM UK investment desk suffered a serious blow this week as star mid-cap manager Derek Lygo became its third high-profile departure in a year. Lygo, who manages the UK mid-cap and UK growth funds, is quitting Dresdner for First State Investments, where he will become the new head of UK equities. Dresdner head of […]

Friends Ivory & Sime – ISIS UK Smaller Markets Fund

Friday, 24 August 2001.Type: Oeic.Aim: Growth by investing in UK smaller companies and initial public offerings of pre-flotation companies.Minimum investment: Lump sum £1,000, monthly £50.Investment split: 2 per cent initial public offerings of pre-flotation companies, 98 per cent UK smaller companies.Isa link: Yes.Pep transfers: Yes.Charges: Initial 4.75 per cent, annual 1.5 per cent.Commission: Initial 3 […]

The New advisers

There are still many niches remaining to be populated by IFAs wanting to set up specialist practices. This week, we look at how four IFAs came to specialise in the very different areas of long-term care insurance, ethical investing, school fees planning and venture capital. Philip Spiers is a partner with the Nursing Home Fees […]

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]


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