Funds Hub
Money managers under the microscope
Morning Line-Up: Hedge funds, sterling shorting, rights issue consultation
Hedge funds see ‘trying’ year in 2010-survey – Reuters
Big fall in short selling of sterling since budget- Daily Telegraph
Fund managers throw down the gauntlet to banks on rights issue fees – Times
Money flows to bonds, emerging market stocks in first half - Reuters
Morning line-up: Escaping new tax, European pay curbs and a new fund
News and views on the fund industry from Reuters and elsewhere:
Some NY hedge fund execs may escape new tax – Reuters
Hedge fund fury over EU pay curbs – Independent
Jupiter adds co-managers to Distribution fund - Fund Strategy
Gartmore launches European hedge fund – Fund Strategy
A toast to Diageo’s pension deficit
Drinking has acquired a new meaning today: it may not be good for you, but it will help pay pensions.
That’s the spirit! Quite literally.
Next time your GP/health conscious spouse/friend tells you to cut on alcohol, you can tell them Diageo has sealed a deal with its UK pension fund trustees, which includes transferring ownership for 15 years of up to 2.5 million barrels of Scotch whisky to make good its 862 million pound deficit.
That’s all folks
The mood at this year’s Fund Forum, if not exactly upbeat, has been less sombre than last year’s introspective summit, with a few more cocktail parties around the stands, but asset managers remain on the whole subdued.
The continuing market volatility has a lot to answer for, with renewed worries about a double-dip recession overshadowing events. But if nothing else, the recession has forced exhibitors in the Forum’s trade hall to be a bit more imaginative in their freebies this year.
Live from the Fund Forum 2010
Follow the Reuters Live Blog from the annual investment management industry conference Monaco.
Marshall not so gaga for Osborne
Lord Myners played a cheeky game of bull and bear with Paul Marshall, the co-founder of hedge fund company Marshall Wace, at the close of his Q&A session at the Fund Forum in Monaco this morning.
After a playful grilling by Lord Myners, which ran the gamut from the problems of gating amongst hedge funds to Marshall Wace’s interest in being a Red Knight for Manchester United football club, Lord Myners fired various concepts at Marshall in a quickfire round, inviting him to choose whether he was a bull or a bear.
Vanguard plans UK target retirement date funds
US passive giant Vanguard is planning to bring its target retirement date products to the UK market to target the growing defined contribution (DC) pensions business.
Taking to Reuters at the Fund Forum, Tom Rampulla, managing director of Vanguard UK, said that the firm was currently trying to structure these long term savings products for the UK market, and looking to add key funds to support the offerings.
Morning line-up: Taxing foreigners, academic pension shortfall and Aberdeen seeking a US bride
News and views on the fund industry from Reuters and elsewhere:
Aberdeen seeks tie-up with US firm – Reuters
Hedge fund founder moves to Geneva – FT
New York State may tax nonresident fund manager profits - New York Times
This little piggy went to market
A lot of fund managers like to talk about how important it is to educate the investor but T Rowe Price has put its money where its mouth is. Through a collaboration with Walt Disney Parks & Resorts it has created an online game and an interactive exhibit at EPCOT called The Great Piggy Bank Adventure.
The aim is to help kids and their parents get to grips with basic savings concepts, diversifying their assets and staying ahead of inflation in a fun way. You can choose to save up for various items like a rabbit or a basketball but woe betide the child who is tempted by the whoopie cushion or plastic vomit when they pop to the shops.
Morning line-up: USS, Gambhir and the US take on regulation
News and views on the fund industry from Reuters and elsewhere:
USS prepares for tough call – Reuters
Gambhir likes UK, Germany – CityWire
Wall Street still in the hedge fund game – Reuters
Market reprieve robbed clients of change – Reuters
