Christopher's Feed
Jul 27, 2011

Fund managers line up defensive options

LONDON (Reuters) – Fund managers are weighing up their defensive investment options as a litany of poor economic indicators from the UK, Europe and the United States hammers home fears another global recession is on its way.

While some asset allocators are resisting the latest flight to gold or Swiss francs, others are pondering how to shape their clients’ portfolios if the United States loses its banner credit rating and a 109 billion euro Greek bailout plan promises more than it delivers.

Jul 21, 2011

UK stocks ready for renaissance as investors return

LONDON, July 21 (Reuters) – Britain’s unloved stock market
is emerging as an unlikely refuge for risk-averse investors as
its cash-rich and recession-ready companies trounce the income
and growth prospects of bonds hit hard by the threat of
sovereign default, fund managers say.

Investment turmoil caused by concerns the Greek debt crisis
could topple the euro zone and about how the United States
manages its swollen debt pile has sent many investors fleeing to
cash and gold.

Jul 19, 2011

BofA narrows global wealth focus to slim non-U.S. assets

LONDON (Reuters) – Bank of America is to stop managing money for wealth management clients outside 20 core regions in an efficiency drive that will lead to a 3 percent reduction in non-US assets under management, a spokeswoman at the company said.

Bank of America, the world’s largest wealth manager by assets following its tie up with Merrill Lynch during the financial crisis, will concentrate operations in 20 regions covering 77 countries, the spokeswoman said.

Jul 19, 2011

BofA narrows global wealth focus to slim non-US assets 3 pct

LONDON, July 19 (Reuters) – Bank of America is to
stop managing money for wealth management clients outside 20
core regions in an efficiency drive that will lead to a 3
percent reduction in non-US assets under management, a
spokeswoman at the company said.

Bank of America, the world’s largest wealth manager by
assets following its tie up with Merrill Lynch during the
financial crisis, will concentrate operations in 20 regions
covering 77 countries, the spokeswoman said.

Jul 18, 2011

Man Group buys Lehman exposure from GLG funds

LONDON (Reuters) – Hedge fund firm Man Group (EMG.L: Quote, Profile, Research, Stock Buzz) is to buy exposure to the estates of defunct U.S. bank Lehman Brothers from funds run by its GLG unit for $355 million, in an effort to clean up the funds’ holdings and make them easier to sell to new investors.

GLG — bought by Man Group last year for $1.6 billion — was using Lehman as its main prime broker at the time of the U.S. bank’s collapse at the nadir of the credit crisis in 2008, and Monday’s move means Man will benefit or bear the risk of any change in the value of the claims.

Jul 11, 2011

Core BSkyB investors bet on rebound as others flee

LONDON (Reuters) – A core of large investors in BSkyB (BSY.L: Quote, Profile, Research, Stock Buzz) is planning to stick with it regardless of the outcome of a bid by Rupert Murdoch’s News Corp (NWSA.O: Quote, Profile, Research, Stock Buzz) to take it over — now hanging in the balance — and as others dumped the shares on Monday.

Three of five institutional shareholders, who together hold around 8 percent of the stock not owned by News Corp, told Reuters that BSkyB was a fundamentally strong firm, with two stating they might buy more shares.

Jun 30, 2011

UK investors unrattled by Greece woes – Reuters poll

LONDON (Reuters) – British fund managers are keeping faith with the euro zone, increasing investments in the area amid confidence policymakers will act to contain the Greek debt crisis and prevent it spreading, a Reuters poll showed.

A monthly survey of 13 investment managers found the average allocation in global equity portfolios to the euro zone — seen as vulnerable to contagion from Greece if the crisis worsens — increased to 16.3 percent in June from 15.6 percent in May.

Apr 1, 2011
Mar 29, 2011
via Funds Hub

Morning Line-Up: Turning the tide or washed out by tsunami

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

Computer driven funds hit in Japan fallout – Financial Times

Aberdeen inflows turn positive in 2011 - Reuters

Dreyfus launches emerging market fund - Wall Street Journal