Funds Hub

Money managers under the microscope

from Global Investing:

RIP 2008-2009

It was down, down, down in 2008 and up, up , up in 2009. So what will 2010 bring?

Year

Staying long

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The mammoth rally we had in Q2 may be starting to falter — the FTSE 100 is now below 4,200, having hit 4,500 last month — but Octopus’s David Crawford is sticking with a 60 percent net long position.

rtx9m6rCrawford made part of his Absolute Return Ucits III fund’s 71.1 percent return (since launch last March) by shorting stocks in 2008 and by going net long four months ago.

Light at the end of the tunnel?

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rtxb5afThere’s no shortage of bad news in the financial world at the moment.

But one top hedge fund manager believes that equities could soon be heading for a very sharp rally.

Cazenove’s Neil Pegrum — whose fund┬ámade 9.4 percent last year while markets were plummeting — believes UK equities could soon be enjoying a “March 2003″ rally.

A pretty pair

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The shrinkage of the UK-listed banking sector is providing an interesting trade for Legal & General Investment Management’s $46 million Global Macro fund.

After some dramatic share price falls, banks now account for only around 10 percent of the FTSE 100. According to LGIM’s head of asset allocation David North, this means any potential damage of further bank problems to the index is likely to be a lot less from here onwards.

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