Investment Management, Islamic Finance Correspondent
Cecilia's Feed
Jan 13, 2011

UK firms eye more assets-for-pension-gap deals

LONDON, Jan 13 (Reuters) – More British companies will
bridge pension deficits by pledging their own assets to the
funds, according to advisers Deloitte which expects to do 2
billion pounds ($3.1 billion) such deals for 2011.

Last year Diageo (DGE.L: Quote, Profile, Research, Stock Buzz) made headlines when it formed a
15-year partnership with its underfunded UK pension fund using
maturing whisky as an asset, which the scheme will sell back to
Diageo when the partnership ends for an amount reflecting the
deficit at that time. [ID:nLDE6600UO]

Dec 30, 2010

U.S. losing IPO pole position: survey

LONDON (Reuters) – The United States is losing its appeal as leading global center for stock market flotations, hit by restrictive regulations and competition from other financial centres, a survey of American lawyers showed on Thursday.

Just over 70 percent of a 50-strong sample of transaction attorneys, whose firms advised on three-quarters of initial public offerings (IPO) listed on major U.S. exchanges this year, said the country is losing its attraction as IPO venue of choice.

Dec 29, 2010
via Funds Hub

Morning Line-Up: BlackRock bullish, IPOs, Tower Australia

                                                    

News and views on the asset management industry from Reuters and elsewhere:

BlackRock founder upbeat on growth potential – FT

Institutional investors to shun high-price IPOs – Times

Australia’s Tower  accepts Dai-ichi’s $1.2 bln bid – Reuters

Dec 23, 2010

Fund view – Axa fund backs entrepreneurs for long-term returns

LONDON (Reuters) – Investing in emerging market companies run by their founders can net reliable and sustainable returns for investors who are willing to trust these entrepreneurs over the long term, an Axa fund manager said.

Guillaume De Corbiac, manager and an investor in the 300 million euro (255.4 million pounds) AXA WF Framlington Emerging Markets Talents Fund, targets the personal drive and track record of entrepreneurs rather than the companies they set up, selling if the founder departs.

Dec 22, 2010

Axa fund backs entrepreneurs for long-term returns

LONDON (Reuters) – Investing in emerging market companies run by their founders can net reliable and sustainable returns for investors who are willing to trust these entrepreneurs over the long term, an Axa fund manager said.

Guillaume De Corbiac, manager and an investor in the 300 million euro ($394.8 million) AXA WF Framlington Emerging Markets Talents Fund , targets the personal drive and track record of entrepreneurs rather than the companies they set up, selling if the founder departs.

Dec 21, 2010

Fund view – SWIP fund bets on holiday firms to beat 2011 gloom

LONDON (Reuters) – Holiday operators will weather the uncertainty over Western economies in 2011 as people turn to beaches and mini-breaks to escape crisis fears and bad weather, fund managers at Scottish Widows Investment Partnership said.

Luke Hickmore and Roger Webb, co-managers of the 63 million pound SWIP Strategic Bond fund, have invested in senior debt issued by TUI (TUIGn.DE: Quote, Profile, Research) and Thomas Cook (TCG.L: Quote, Profile, Research) with holiday habits seen unchanged in tough times.

Dec 20, 2010

Henderson confirms Gartmore takeover talks

LONDON, Dec 20 (Reuters) – Anglo-Australian fund management
house Henderson Group (HGGH.L: Quote, Profile, Research, Stock Buzz) confirmed takeover talks with
ailing rival Gartmore (GRTR.L: Quote, Profile, Research, Stock Buzz), fuelling fears another UK buy
may slow its U.S. expansion plans and hitting shares.

Gartmore said late on Friday it had entered into talks with
Henderson on the basis of a proposal priced at “a slight
discount” to Gartmore’s closing share price of 98.75 pence on
Dec. 16, valuing the company at 360 million pounds ($562.5
million). [ID:nLDE6BG20F].

    • About Cecilia

      "In my professional capacity I canvass fund managers, consultants and pension schemes on investments issues and write analytical pieces on investment trends. I also consult investors on M&A matters. My brief includes Islamic finance, especially sukuk issuance and Islam-compliant asset management themes. I joined Reuters News in September 2008 from Thomson Financial News, where I was European pension correspondent."
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