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CityWire - Premier Asset Management has hired former Thames River hedge fund specialist Chris Wright to take control of the Premier Dividend Fund from Paul Branigan.
Branigan, who also manages an absolute return growth mandate and is chief investment officer of Premier, is handing over to Wright as he wishes to concentrate on his other duties at the group.
Wright, who managed a number of hedge funds for Thames River, joins Premier on 1 September.
Wright is expected to restructure the Dividend Fund when he arrives, which could see it employ a similar strategy to the one used by the Schroder Income Maximiser Acc fund.
Managing director of sales and marketing, Simon Weldon, said: ‘Chris brings a lot of pan European equity experience with him and has been on both sides of the buy-sell fence so we are confident he will make an excellent addition to the team.
CityWire.co.uk- Punch-drunk investors have – perhaps a little predictably – interpreted the news as Paulson preparing to call the bottom of the market. And it is certainly an interesting development from the man widely considered to be the ‘greatest’ financial speculator since George Soros.
Some words of caution, though. All of today’s reports explicitly stress that the launch of the fund is not yet a forgone conclusion – a deliberate message that almost certainly emanates from the great man himself.
Like many others before him, Paulson appears to be using the media to test investor appetite for such a fund (so much cheaper and quicker than marketing or one-to-one meetings).
CityWire.co.uk- Skandia has launched an offshore protected fund of funds which aims to offer capital protection alongside investment returns from the global equity markets.
The Royal Skandia Protected Portfolio Investment Global Vista Life fun (PPI Global Vista) will offer exposure to global markets in a protected environment through equally weighted positions in AXA Framlington Emerging Markets Acc fund, Henderson European Opportunities A Acc fund, Invesco Perpetual Global Bond Inc fund, M&G Global Basics A Euro Acc fund and Schroder US Smaller Companies Inc fund.
It will be available to UK investors via Skandia’s offshore portfolio bonds and offers 100% capital protection plus 100% of the quarterly averaged growth at maturity. There is also an enhanced allocation of 104%.
The fund has a fixed five year term and will return the final redemption value to the bond at the end of the term offering the opportunity to reinvest the proceeds into an alternative investment vehicle.
CityWire.co.uk- RWC Partners has recruited Carmel Peters and Kirsty McLaren for the launch of an Asian-focused fund.
Investment boutique RWC, which changed its name from MPC Investors earlier this month, has hired Peters and McLaren from Sofaer Capital.
The duo has been brought in to co-manage the RWC Asia Ascent Fund, which will be launched later in the year.
The new fund will invest across the Asia region and be benchmarked against the Asian (ex-Japan) indices. It will adopt Ucits III status to allow the flexibility to short indices and stocks.