Investment in distribution does appear to be a particularly hazardous example.The contradiction for many providers assessing whether to invest is that the influence of many distribution organisations over product sales far outstrips the value of those organisations. It is further complicated by the fact that these organisations either comprise or rely on disparate businesses often of different size, make-up, turnover and profitability.Nothing the FSA and Treasury have done with depolarisation has changed that. Of course, there are many IFA organisations doing well. Some medium-sized IFA network businesses have posted decent profits but there appear to be very few insurers making a decent return on their investments. One life office distribution director always remarked, although always off the record, that he never expected to make any money from his investments – it was always a distribution play and often a defensive one. Perhaps Skandia is learning this lesson the hard way.
F&C’s multi-manager team has sold its holding in the Thames River Japan fund in its multi-manager balanced fund while increasing its exposure to the CF Morant Wright Japan fund.
Close Brothers Investment Limited marketing manager David Sherman is enjoying a cruise of the Northern Isles with his lovely femme Jacqueline, celebrating their 150th anniversary. Months, that is. Sherman, aged 71, says of this impressive feat: “We are far too old now to wait whole years to celebrate. So we have a monthly one instead.” […]
I am always suspicious when a stockmarket sector has risen dramatically over three years or so but I believe that well managed European emerging markets funds will still outperform most other sectors over the next few years.
Portman Building Society
Five Year Fixed
Paul Casson, manager of the Artemis Pan-European Absolute Return Fund, explains why he likes Irish housebuilders but is shorting banks – and how one Spanish TV company is going against media trends. Click here to read more
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