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‘Tories would not lift markets more than Labour’

A Tory Government would not lift markets more than Labour despite the party’s allegiance to the investment community, say roadshow panellists.

In some general elections, investment professionals have been vocal in their support of the Tories but panellists said investors would not be affected positively or negatively by a change of Government.

Invesco Asset Management distribution director Andrew Watkins said he “leaned to the right of Genghis Khan” but believed the re-election of Labour would not be a bad thing for investors. He also said opposition leader Michael Howard was untried and had the potential to disappoint.

Gerrard director Brian Tora is the chairman of his local Conservative association but said investors would notice little difference between the parties because of the way Labour has restructured.

He said the IFA audience should vote Conservative bec-ause of the issue of smaller government and less regulation.

Seven Investment Management chief executive Tom Sheridan said markets do not like uncertainty and would prefer Tony Blair to be re-elected.


Old Mutual and BNP lead bids for Deutsche arm

Old Mutual and BNP are bel-ieved to be the front -runners in the bidding for the UK institutional arm of Deutsche Asset Management. There are thought to be four other groups considering making bids for the business. Old Mutual said two mon-ths ago that it was looking for a UK acquisition. A question mark now […]

Julian Gibbs

Seven months ago, Fidelity launched its India focus fund, which has attracted no less than $1bn of assets. Fund manager Michael Gordon, who is Fidelity’s chief investment officer for Asia Pacific, is based in Hong Kong but is backed up by his team in Mumbai. He has over 20 years’ investment experience with Rothchilds and […]

L&G predicts corporate expenditure will drive growth

UK plc has record levels of cash on its balance sheets, providing a strong base for economic growth, according to Legal & General. Amid fears that consumer spending is about to tail off, after underpinning US and UK GDP growth for the past three years, L&G believes the anticipated upturn in corporate expenditure and merger […]

Select switch at Threadneedle

Phil Cliff is to take over from his boss, Darrel ODea, as manager of Threadneedles European Select Growth fund. Cliff has been number two on the team and currently also manages Threadneedles pan-European Accelerando fund. He will now switch roles with ODea, who becomes deputy manager on the select growth fund.


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