Managers slash US weighting to nine-year low
The degree to which global fund managers are underweight in US equities has fallen to its lowest level since January 2008, according to the BofA Merrill Lynch July fund manager survey.
Macro News
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UK inflation unexpectedly dips in June
UK inflation has fallen month-on-month for the first time since April last year, reducing the likelihood of an August interest rate rise.
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UK investor confidence ‘scraping the bottom of the barrel’
Sentiment among UK investors has plummeted to its lowest level this year, the latest monthly data from Lloyds Private Bank and Hargreaves Lansdown has confirmed.
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China GDP growth surprises on the upside
China pulled out better than anticipated growth over the second quarter, leading analysts to speculate it could have greater momentum moving forward.
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Investors increasingly divided over UK prospects
Confidence over global economic prospects is rising, but the split between the optimistic investors and pessimistic in the UK is widening according to the latest State Street ‘Brexometer’ survey.
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Asset managers urged to transform as profits fall
Asset managers will have to transform in order to survive, according to a new report which revealed industry revenue and profits fell for the first time since 2008.
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UK unemployment hits lowest level since 1975
The rate of unemployment in the UK has dropped to its lowest level in 42 years, falling to 4.5% in the three months to May according to the Office for National Statistics (ONS).
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Upbeat asset and wealth managers behind the times on AI
Asset and wealth managers are more upbeat about their prospects than other sectors of the financial services industry, but are lagging others technologically according to the CBI/PwC Financial Services Survey.
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The best-selling funds in June
In these volatile times, the Tilney Group’s managing director Jason Hollands talks through the funds that managed to attract investors via the Bestinvest Online Investment Service in June.
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US employment rises but limp wage growth sparks concerns
The US central bank seems determined to push forward with plans to hike interest rates despite concerns bubbling last week over how promising the country’s employment rate really is.
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Weak UK trade sparks concerns despite sterling’s fall
The UK trade balance deteriorated significantly in the three months to May 2017 widening from £6.9bn to £8.9bn according to the Office for National Statistics.
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UK disposable income falls at fastest level since 2011
UK households are seeing their disposable income fall at its fastest level since 2011 as inflation bites. Yet investors are doing much better as the low value of sterling underpins stock markets and increases the income from overseas investments.
