INGSTAR RATES NEW FUNDS
Fund information company Morningstar has just assigned ratings to four funds available for sale in the UK. GLG’s Japan CoreAlpha Equity fund receives an elite rating thanks to the experience of fund managers Stephen Harker and Neil Edwards who are “talented stock pickers who have put their long experience to excellent use”. Both the AXA Framlington Monthly Income fund and the Goldman Sachs BRIC fund are rated at standard because their mandates are seen as being too restrictive. Montanaro European Smaller Companies Fund GBP is rated superior.
SKYBRIDGE CAPITAL SETS UP EUROPE BASE
Leading US hedge fund investor SkyBridge Capital yesterday announced the opening of its first European office in Zurich. This new development is the investment firm’s first step in building up its international presence.
SkyBridge Capital launched yesterday a new Luxembourg SICAV-SIF fund for European, Middle Eastern, Asian, Australian, and Latin American investors. The launch follows its recent decision to acquire the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses from Citi Alternative Investments.
DC PENSION FUNDS GET BENCHMARK
FTSE Group and analytics specialist PensionDCisions launched on Tuesday the UK’s first ever benchmark indices for multi-asset defined-contribution pension schemes.
Previously, these funds had no yardstick with which to measure their default funds whereas the arrival of these indices will allow them to provide trustees with regular feedback. Bill Galvin, strategic development executive director at The Pensions Regulator said: “Reference points are important for those accountable for making important decisions on asset allocation and de-risking for members.”