Sinead's Feed
Nov 5, 2013

Ryanair investors berate O’Leary but fear his leaving

DUBLIN/LONDON (Reuters) – When one Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) shareholder made a stinging attack on Chief Executive Michael O’Leary at the airline’s annual meeting for scaring off customers with his “bullying” and “macho” style, there was one thing he didn’t mention.

That O’Leary’s leaving was one of his biggest fears.

As Ryanair scrambles to reinvent itself and woo customers from higher-cost rivals to fill hundreds of new planes, there are growing concerns about the cost of what O’Leary recently described as his “personal character deformities”.

Nov 5, 2013

Insurer RSA says severe weather events to hit returns

LONDON, Nov 5 (Reuters) – Insurer RSA has warned
insured losses caused by severe weather in Europe and Canada are
“materially above assumptions” and full year returns to
shareholders are likely to suffer.

On Tuesday RSA blamed October’s severe Northern European
windstorm and similarly unsettled weather in Canada earlier in
the year for the hit to returns, which offset a 7 percent rise
in net written premiums to 6.7 billion pounds ($10.7 billion).

Nov 4, 2013

Listings offer few wins for investors in first year: Kleinwort

LONDON (Reuters) – Investors wooed by 2013′s strong British stock market listings forget the risks of backing debut share sales at their peril, as data from the past decade shows their support is rarely rewarded within a year of companies going public.

Figures from private bank Kleinwort Benson show that on average UK listings underperformed the FTSE All Share index .FTAS in the 12 months after debut in 7 of the last 10 years.

Oct 28, 2013

Research costs reform seen squeezing fund firm profits

LONDON, Oct 28 (Reuters) – Moves to revolutionise the way
global fund managers pay banks for company research could slash
the profitability of their equity funds business by up to 50
percent, research has showed.

Most fund firms pass on the cost of equity research, valued
in the region of $5 billion a year, to their own clients, who
pick up the bill as part of commissions paid to brokers for
buying and selling stocks on behalf of the fund.

Oct 22, 2013

Fund firms wrestle with “star manager” syndrome

LONDON, Oct 22 (Reuters) – Neil Woodford’s surprise
announcement last week of his planned departure from fund
manager Invesco Perpetual neatly encapsulates the risks to fund
firms who employ such star managers and the investors who back
them.

They can leave.

Woodford, widely feted for a defensive stock-picking style
that made money throughout the financial crisis, is responsible
for running around 30 billion pounds ($48.5 billion) of assets,
out of the firm’s 70 billion total.

Oct 18, 2013

Burned-out fund managers show reality of City life’s “easy option”

LONDON (Reuters) – When Sanjeev Shah quit his job last month, eyebrows were raised. This wasn’t another burned-out banker: The 43-year-old was a successful fund manager running 2.8 billion pounds ($4.5 billion) for Fidelity Worldwide Investment, reaping big returns.

His reasons for leaving – “This is a role that demands 110 percent effort, focus and intensity. I don’t want that level of intensity” – shed rare light on an industry often dismissed as the easy option in the world of finance.

Oct 15, 2013

Dark pool stock trading picks up as Europe debates new curbs

LONDON, Oct 15 (Reuters) – Fund managers are trading more
assets on private exchanges known as dark pools, a growing trend
that clashes with regulators’ mission to improve financial
market transparency.

Dark pools are electronic trading networks that allow
investors to buy and sell stocks anonymously, in private deals
so other shareholders are not aware of the trades. Some of the
details are made public but only after the market has closed.

Oct 15, 2013

Star fund manager Neil Woodford to leave Invesco

LONDON, Oct 15 (Reuters) – Neil Woodford, one of the
investment industry’s most closely watched fund managers, will
leave Invesco Perpetual to start his own business after a
25-year career that has given him an almost cult following among
British investors.

Invesco Perpetual said on Tuesday the high-profile money
manager is to leave on April 29. He will be replaced by Mark
Barnett as the firm’s head of UK equities, and take over
management of Woodford’s two funds.

Sep 19, 2013

UK watchdog proposes shake-up of poor value pensions

LONDON (Reuters) – A UK watchdog has unveiled proposals to shake up the 275 billion-pound ($439 billion) defined-contribution pensions market, parts of which offers poor value for money for up to 5 million savers.

The Office of Fair Trading OFT.UL (OFT) has stepped in to increase confidence in workplace pension schemes and bolster efforts by the British government to get more people to save for retirement, relieving pressure on taxpayers.

Sep 6, 2013

Analysis: Fed shift complicates Syria crisis trading strategy

LONDON (Reuters) – Some investors trying to protect themselves from any market gyrations provoked by a deepening Syrian crisis are looking to oil as an alternative to top-rated government bonds, a traditional but currently unappealing haven in uncertain times.

With U.S. Treasuries and German bunds on course for their biggest annual losses since the mid-1990s, oil is being touted as a better bet – although many investors remain ready to endure some short-term pain in return for the liquidity that the huge government bond markets offer.