Morning Line-Up: Gartmore, Lehman/Nortel case, dairy bid, Ireland
News and views on the asset management industry from Reuters and elsewhere:
Gartmore mystery stake-builder- FT
Lehman/Nortel pension UK court case – Reuters
UK pensions case could shift creditor rankings
LONDON, Nov 23 (Reuters) – A UK court case involving Lehman
Brothers and Canadian telecoms firm Nortel could have dramatic
consequences for the ranking of creditors in a corporate
bankruptcy.
The case, which starts on Wednesday, will look at whether
pension funds should rank above other creditors, including the
fees paid to the administrators of failed companies.
Morning Line-up: CoE Vs News Corp, raided hedge funds, bonuses
News and views on the asset management industry from Reuters and elsewhere
Church of England against News Corp’s BSkyB takeover- FT
Morning Line-up: bonuses, London’s position, Chinese trusts
News and views on the asset management industry from Reuters and elsewhere
Osborne’s watered down bonus disclosure – FT
Morning Line-Up: Barclays private equity, F&C, shorted Gartmore
News and views on the asset management industry from Reuters and elsewhere
Barclays to sell private equity arm to management - FT
F&C clients advised to vote against firm’s remuneration - Daily Telegraph
Hedge funds eye Gartmore short-selling – Reuters
Hedge funds seen circling struggling Gartmore
LONDON, Nov 17 (Reuters) – Hedge funds are likely sizing up
crisis-hit fund firm Gartmore (GRTR.L: Quote, Profile, Research, Stock Buzz) to short-sell its stock
after the departure of another key manager, a sign the company’s
troubles may worsen as it looks for a buyer.
Gartmore said on Nov 8. it was seeking talks that could lead
to a merger or sale after star manager Roger Guy, responsible
for about 17 percent of its assets, and CIO Dominic Rossi became
the latest senior staff to leave. [ID:nLDE6A70K3]
Record profit down on fewer clients, lower AuM
LONDON, Nov 16 (Reuters) – British specialist currency
manager Record (RECL.L: Quote, Profile, Research, Stock Buzz) defended its investment style when
saying a decline in client numbers for a key product and assets
under management led to a fall in first-half profit.
Chairman and founder Neil Record said on Tuesday he stood by
Currency for Return, a product designed to make money from
currency fluctuations, despite a poor performance over the past
two years.
Templeton says Turkish regulator seeks Mobius info
LONDON, Nov 12 (Reuters) – Franklin Templeton confirmed on
Friday the Turkish regulator has requested information on
comments by emerging markets fund manager Mark Mobius, which
were blamed for driving a slump in Turkish stocks two weeks ago.
Last week, senior officials at Turkey’s capital markets
watchdog (SPK) told Reuters they had launched an investigation
into possible market manipulation after Mobius — who heads fund
manager Franklin Templeton’s emerging markets group — predicted
a possible major market correction. [ID:nLDE6A01BS]
Barclays pension fund eyes emerging markets hike
LONDON (Reuters) – Barclays’ UK employees pension fund could double its exposure to fast-growing emerging markets, an executive said, as it seeks higher returns and a wider spread of investments.
The 17.3 billion pounds Barclays (BARC.L: Quote, Profile, Research, Stock Buzz) UK Retirement Fund, one of the largest in the UK, currently invests about 6 percent of its total assets in emerging market equities.
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