September 2011

DisasterThe effect of a fund manager's tenure on the performance of the fund they manage appears to be very real. Nick Fitzpatrick looks at Lipper data provided exclusively to Funds Europe that suggests tenure, and probably age and experience, should be a factor in fund manager selection.

Gold-barsWhich allocations will protect investors in these troubled times? George Mitton examines the outlook for key asset classes­.

BarometerBond managers have had a great deal thrown at them. The latest is the US downgrade. Fiona Rintoul asks investors what to expect and finds few are in the mood for predictions.

AppleThere are signs that approaches to investing in alternatives are changing. Fiona Rintoul finds that some investors group long/short investment into a broader equity allocation. However, complexity dissuades other investors.


ButlerApproaches to equity investment have been shaped by the 2008 crisis. Mark McFee finds evidence of this in the August sell-off and looks at some of the current thinking surrounding investment for institutions, retail and wealthy clients.


STEEL-YENInvesting in commodities can protect against wars and supply shocks while cashing in on emerging market growth. But the asset class is blamed for worsening hunger in the Third World, finds George Mitton.


Rudolf-ApenbrinkHaving returned last year from Asia to become Emea head of HSBC's fund management business, Rudolf Apenbrink still has a keen eye on emerging markets, finds Nick Fitzpatrick.

Question-markThe growing range of absolute return funds has been called a confusing jumble of strategies that risks misleading less savvy investors. George Mitton asks if regulators should move to discourage the term.


Fish---blueTotal European net fund sales yo-yoed their way through the first six months of 2011, but ETFs enjoyed much steadier flows. Mark McFee asks if this shows that ETFs are set apart from the rest of the industry.


Tax-burdenUS authorities have pushed back the date for compliance with its Fatca rule in recognition of the burden it will cause. Nick Matthews and Matt Haddow, of Kinetic Partners, explain the challenges for fund businesses.


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