He worked for Fidelity for 14 years, where he managed the FMR Europe fund from 2006 to 2008 and the European dynamic growth fund from 2001 to 2008.
Mortgage approvals from the high street banks rose again in July as figures hit a 17-month high.
Coventry Building Society
Offset 4.65% Fixed
Henderson Group has announced the appointment of Shirley Garrood as chief financial officer.
Last month, I mentioned the findings of the IMA’s third Great British Investor Report – based on a survey of over 4,000 retail investors in May – which suggested that investor confidence may be on the up but it should be noted that this was against a background of the majority of investors thinking that the FTSE 100 would not recover to the 6,000 level for over two years, so, more of a case of cautious optimism.
By Ali Unwin, head of technology sector research
Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.
At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.
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