Funds Hub
Money managers under the microscope
Morning Line-Up: Toscafund, Wellcome Trust, Islamic finance
News and views on the fund industry from Reuters and elsewhere:
US Senate close to new anti-bail-out deal - Reuters
Gulf banks eye Islamic finance conversion – Reuters
Toscafund seeks 500 mln stg for UK residential mortgage - FT
Wellcome Trust drops RBS branch acquisition plans - Telegraph
No tragic ending at Toscafund
Puccini’s tragic opera Tosca ends with the heroine, realising she has been tricked by the evil Baron Scarpia and that her lover has been executed, hurling herself to her death from a castle parapet in despair.
However, despite last year’s tragic performance — an approximately 60 percent plunge in the flagship fund after holdings such as Redrow and Taylor Wimpey fell sharply — it would seem Martin Hughes has sidestepped such an unhappy ending at Toscafund, where redemptions have tailed off and fund performance is strong once again.
