Investment industry leaves Russia out in the cold
‘Do not expect to see any institutional managers taking positions in Russian securities again for a very long time, if ever’
Equities
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Terry Smith kicks another mainstay holding to the kerb
Follows ejections of Becton Dickinson and Johnson & Johnson
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Short sellers circle Hargreaves and beleaguered fund groups
D2C platform and Ashmore among top 10 most shorted UK stocks, while Abrdn is not far behind
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Is surprise uptick in US consumer confidence a false dawn?
Lower gas prices put small spring in consumers’ steps in August but weaker jobs growth could force households to rein in spending
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Passive funds more resilient than active rivals as investors prioritise cost and agility
Clear preference for trackers in Global, UK All Companies and Sterling Corporate Bond sectors
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Morningstar’s Bragazza: Diversify your diversifiers
It’s not just about historical correlations or equities and bonds
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Jupiter to sell Starling stake but Chrysalis holds on
The challenger bank is eyeing an IPO before the end of 2023
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Fundsmith adds mystery holding
But it is already one of the equity fund’s worst performers
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Invesco ventures into the metaverse with equity fund launch
Virtual and augmented reality could deliver £1.4trn global economy boost by 2030
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Which nine US sustainable funds have posted positive returns this year?
Majority of top performers fall into Morningstar’s clean energy category
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Equity income managers shrug off ‘Armageddon’ UK recession fears and dive into mid-caps
Companies have less balance sheet risk than they did heading into the GFC
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Rotation into risk assets might prove premature
Rebounds in both equities and govvies could have further to run but path to a sustained rally seems particularly narrow