Insights

From the monthly archives: November 2015

We are pleased to present below all posts archived in 'November 2015'. If you still can't find what you are looking for, try using the search box.

New Talking Factsheets

We are excited to announce the latest Talking Factsheets to be added to the Square Mile Academy of Funds. Talking Factsheets is a service for users of the Square Mile Academy of Funds, combining Square Mile's independent, qualitative fund research with accessible video content. 

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Old Mutual Corporate Bond Fund Rating Removal

It was announced today that Christine Johnson, manager of the Old Mutual Corporate Bond fund would be stepping down and passing management of the fund to Lloyd Harris. Ms Johnson was recently promoted to Head of Fixed Income at Old Mutual, and will be concentrating on this role as well as the management of other Old Mutual bond funds, including the Global Strategic Bond fund.

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Looking Beyond the Marketing ‘Gloss’

The power of presentation is arguably at its most potent in modern politics. The first televised presidential debate between a sickly Vice President Richard Nixon and calm, confident Senator John Kennedy in 1960 - still one of the most watched programs in US broadcast history - is surely testament to that. Whether in the US or closer to home here in the UK, nowadays the electorate tends to favour politicians they 'like' and 'trust' over those that appear 'able' and 'skilled', making the personality of the politician even more important.

But perhaps the best example of the art of spin is the lesser known tale of Mexico's motorways. It all started with a bright idea from the country's Ministry of Transport sometime around the 1960s or 1970s. At the time Mexico was planning to expand its motorway capacity but faced the familiar conundrum of having plentiful political capital and not enough financial. With the upcoming election front of mind, the Ministry of Transport set about re-marking the two lane highways as three lanes, in an attempt to create a speedy - and cheap - solution. The impact was immediate but in no way wholly positive. Road capacity increased by 50% and with it the accident rate soared to the extent that the roads actually had to be returned to their original state. However none of this was enough to put off the incumbent politician from leading his re-election campaign with the line that he had successfully increased the road network by a net 17% during his time in power. This was achieved through increasing capacity by 50% less a decrease of 33%.

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Team changes at First State Stewart Investors

We would like to highlight to investors and fund holders that Stewart Investors have recently announced their intention to make some changes to portfolio management responsibilities for some of their strategies. The changes are expected to be completed by the 1st of July 2016.

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Change in structure to the AXA Framlington Managed Balanced fund

Following the recent announcement that Richard Peirson is to relinquish some of his responsibilities on the AXA Framlington Managed Balanced fund, we have amended our rating from AA to A.

Jamie Hooper has been named as co-manager alongside Mr Peirson having previously been deputy manager for the past three years. Mr Hooper, who has managed the AXA Framlington UK Growth fund since November 2006, will also take on responsibility for the security selection of the fund's UK equity element. In addition, Mr Peirson has passed over the management of the fund's fixed interest element to Nick Hayes, head of sterling rates and credit, however he retains responsibility for the fund's overall asset mix including the regional allocation across the fund's equity portion.

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First State makes name changes to four Square Mile rated funds

Following the decision made by First State in March of this year to split their equity team into two investment teams (Stewart Investors and First State Stewart Asia). They have decided to change the name of the following funds:

First State Asia Pacific Leaders Fund to Stewart Investors Asia Pacific Leaders Fund

First State Asia Pacific Sustainability Fund to Stewart Investors Asia Pacific Sustainability Fund

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