Funds Hub

Money managers under the microscope

Made to sweat on Madoff

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Appearing before a Treasury Select Committee can’t be enjoyable at the best of times.

rtr232shBut when your clients may have lost around 2.3 billion euros in Bernard Madoff’s alleged fraud, it must be positively painful.

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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