pa analysis multi-manager news a bump not a hurdle
As rumours circulate about the future of two multi-manager firms, the bigger picture is still a healthy one.
As rumours circulate about the future of two multi-manager firms, the bigger picture is still a healthy one.
Theres panic on the streets of London, declared Morrissey in 1986 but in the 25 years since The Smiths ruled the charts, and Big Bang which set off a revolution in the City, have things changed?
Considering the volatility seen in markets over the past few months and the constant worry that developed economies might slip back into recession, it wouldn’t be surprising if investment management firms were cutting back.
Alternative investing used to be fairly clear-cut – anything other than equities, bonds, property and cash – but now even these are arguably ‘alternative’.
It has been a tough day for those employed by Credit Suisse, who may wish to keep their heads down following the companys £6m FSA fine over failures in its selling of some structured products.
Stock markets rose today on the back of little being agreed at the Brussels summit so imagine what investors in Europe could see once a comprehensive plan to resolve Europe’s debt crisis is put in place.
The news the European Commission is proposing a further clamp down on credit rating agencies should hardly come as a surprise, since throughout the sovereign debt crisis, the rating agencies have been pilloried as the villains of the piece.
Even the most export-driven country is being force to take a more domestic-led approach to its economic affairs.
Investors are generally willing to accept lower growth as long as income generation is maintained. So what’s the best way to deliver on that demand?
Record levels of CPI inflation may have been reached but at the same time there are distinct signs that this a trend downwards is just around the corner.
Neither the EU summit this weekend nor the follow-up in early November are likely to reveal the policy decisions an end to the eurozone crisis is clammering for.
At the latest SEC-FSA Strategic Dialogue meeting the two watchdogs restated their commitment to working together on regulation, which showed no change from the last meeting, or the one before that.