Alternatives
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L&G UK Property shareholders back switch to hybrid model
Change of investment approach will see the fund invest up to 45% in global Reits
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Peel Hunt: Rate cuts a catalyst for alternatives trust discounts to narrow
‘The reality is that the first leg of discount narrowing is likely to be reliant on that one factor’
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Orbis and Schroder funds added to Scopic Multi Asset Research Service
Orbis OEIC Global Cautious fund and the Schroder Global Multi Asset Portfolio
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ARC: CIO sentiment to risk assets turns positive
Survey of 100 CIOs finds Japan, healthcare and gold received the most positive sentiment shift
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Supermarket Income Reit extends credit facility to £104.5m
Deal with Japanese bank Sumitomo Mitsui increased by £37.5m
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AEW Europe CEO Wilkinson: Why we took on beleaguered Home Reit
Rob Wilkinson also discusses why the UK has been the firm’s favoured European region over the last two years
Equities
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Morningstar downgrades Trojan Income fund rating
Manager research team has revised the strategy’s rating to ‘neutral’ from ‘positive’
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Newton IM’s John Bailer: The market’s new regime
Newton IM’s John Bailer on the ‘last gasp’ of growth stocks and where the market heads in a new regime
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CT Fund Watch: IA Japan houses the most consistently performing funds in first quarter
Overall number of funds with top-quartile returns over three consecutive 12-month periods falls marginally in Q1
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AJ Bell: Six companies that could IPO in London this year
UK IPOs have seen a 16.4% average return so far this year versus a 2.5% gain from the FTSE All-Share index
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CCLA’s Charlotte Ryland and Joseph Hawkes hop on the Trane over Tesla
Ryland and Hawkes discuss the industrial sector’s role in energy efficiency
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EFG’s Afzal: Highly-concentrated US market is broadening
EFG Asset Management CIO discusses concentration risk and the US equity market in election year
Fixed Income
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Fixed income: Look before you leap
Should fixed income investors shun a ‘buy the market’ approach in favour of selective and targeted regional and credit selection?
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Fixed-term bond funds double net inflows and launch 284 new funds in 2023
Sector brought in €60bn in net flows
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Square Mile: Baillie Gifford and Fidelity fund ‘A’ ratings removed
While CT Global Social Bond has been inducted into the Academy of Funds for the first time
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IA fund universe suffers £2.7bn net outflows in February
All major asset classes suffered a second consecutive month of net withdrawals
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Calastone: UK investors ditch home market for US equities at record rate
Net inflows to North American funds were higher over the last four months than in the previous nine years combined
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Orbis and Schroder funds added to Scopic Multi Asset Research Service
Orbis OEIC Global Cautious fund and the Schroder Global Multi Asset Portfolio
Investment Trusts
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Stifel: Concord Music ‘calls Blackstone’s bluff’ over call option
Analysts said the bid may test the strength of HSM’s call option
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US Solar Fund to roll out fixed tender offer and halve dividend target
Investment company sets out refinancing plans following prolonged double-digit discount
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Hipgnosis Song Management: Board has ‘no legal grounds’ to terminate relationship
JOHCM’s share disposal reduces ‘irrevocable undertaking’ support bid down to 23.1%
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Blackstone launches £1.2bn rival bid for Hipgnosis Songs
Trust’s board said it would be minded to recommend the proposal to shareholders if a firm offer was made
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Concord to buy entire issued share capital of Hipgnosis
Proposed deal values Hipgnosis at $1.4bn – a 32.2% premium to its closing price last night (17 April)
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Ashoka India Equity proposes share issuance possibly doubling total number of shares
Also proposes removal of cap on number of holdings
Multi Asset
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Nearly all advisers expect their use of DFMs to increase
Consumer Duty playing a role in driving the trend
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Orbis and Schroder funds added to Scopic Multi Asset Research Service
Orbis OEIC Global Cautious fund and the Schroder Global Multi Asset Portfolio
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Andrew Bell retires from Witan triggering management review
The £1.5bn trust will review its multi-manager strategy as Bell leaves after 14 years as CEO
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Invesco launches discretionary model portfolio service
Range of six investment portfolios across different risk levels
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Columbia Threadneedle Fund Watch: 39 funds achieve top-quartile gains over three years
33 more top-performing funds than in Q4 2022
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October’s top-performing funds: Equities struggle while bonds find their footing
Gold achieved strong returns as sustainability funds struggled
ESG
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FCA releases proposals to expand SDR to wealth managers
The regulator has made adjustments to requirements for portfolio management services following industry feedback
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Industry welcomes FCA’s anti-greenwashing guidance but will need to ‘rush’ to meet 31 May deadline
Some firms were hoping for a longer transition period, commentators say
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Morningstar: ‘Unstoppable rise’ of passive climate funds
The report notes passives’ popularity and flows into fixed income and transition strategies
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Nordea AM liquidates social bond fund 16 months after launch
Due to ‘muted demand’ for the single-themed strategy
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Robeco to launch range of transition investing strategies
Financing companies that make progress in sustainable development
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BNP Paribas launches energy opportunities fund
To address the key ‘meta’ investment themes of the future