New Star head of investment fund of funds Mark Harris says multi-managers need to ensure they continue to meet investors’ requirements when applying some of the new more flexible powers and products available under Ucits III.At a Money Marketing round table, he said the adoption of new powers such as shorting stocks and buying more offshore products, hedge funds and structured products will gradually increase but changes need to be made carefully. Harris, who is already using a number of the more flexible techniques now available, said: “The regulators are allowing us more powers and I embrace that. In the past, I have been frustrated I could not do more for clients but we need to be careful we are not taking the funds away from what the client bought them for.” “I expect to see existing funds move more towards some of the new products but a lot of them might be fool’s gold. Some people think that hedge funds are the panacea for everything.” Jupiter director John Chatfeild-Roberts commented : “Ucits III has given us broader powers but most investors have bought funds of funds as core investments so we will not move our funds particularly quickly.” Credit Suisse multi man-ager co-head Gary Potter described the process of adopting new processes as “evolution, not revolution”. He said: “The benefits of multi-manager is sold now. Let us push on and maybe include some of the new products but not mix up the message.” Christows managing director Dan Kemp said: “A lot of funds of funds are running long-only and some are running a mix of fund and hedge. We are starting to scratch the surface but it is important that we do not destroy what we have built up.”
Lenders are being warned to go for steady growth in the offset mortgage or risk the market being shut down. The Treasury is keeping a close eye on the market as savings used to offset interest on a mortgage do not have to be taxed at present, although the Government may close the loophole if […]
Canada Life technical manager Peter Carter says three Finance Acts have failed to provide true simplification of the pension tax regime and many IFAs and consumers are still confused over its workings
Of all the world’s major stockmarkets the only one to fall in real terms from the beginning of this year to September 13 has been Japan which, in terms of the Topix Index, fell by 4 per cent but is now recovering.
Poor old Woolwich got a good kicking this week from the Building Societies Association.
Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.
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Aberdeen Standard Investments has voted against multi-million pound payouts for senior executives at housebuilder Persimmon. Persimmon held its annual general meeting today. There was a huge outcry at the end last year when it emerged the chief executive, chief financial officer and managing director of Persimmon were in line for huge pay packets as a […]
Consideration of non-pensions related tax-advantaged investment is becoming more necessary This week I want to take a look at where things stand in relation to pensions and planning using tax-advantaged investments following the Spring Statement. With the increasing impact of the lifetime and annual allowances, consideration of non-pensions-related tax-advantaged investments is becoming ever more necessary […]
Morningstar chief executive Mark Roomans on bringing algorithmic investing to the mainstream Morningstar UK chief executive Mark Roomans is a senior industry leader whose career has been largely devoted to helping the investment world harness the power of data to create better solutions. Good data has always given fund managers their edge, driving better decision-making […]