News

IMA SECTORS

The administrator of liquidated fund group Castlestone Management (CML) has said it is "very unlikely" it can rescue the company in its current form based on its assets and liabilities.

The IMA is changing the name of its Managed sectors to fall into line with the Association of British Insurers (ABI) fund categories.

Eclectica's hedge fund star Hugh Hendry has been using put options on the so-called 'fear index' to play market volatility.

Standard & Poor's has downgraded a raft of US and UK banks including HSBC, Barclays, and Goldman Sachs following an overhaul of its ratings criteria.

Eurozone finance ministers agreed to allow the EFSF to fund partial protection on government bonds, but plans to extend overall funding to the €1trn target were dealt a blow last night.

As George Osborne reveals the Office for Budget Responsibility has revised down growth forecasts in the UK and government borrowing has moved higher, fund managers and economists give their view on 2011's Autumn Statement.

PIMCO's Bill Gross, manager of the world's largest bond fund, has warned developed economies are set for sluggish growth and artificially low interest rates for a number of years, as they struggle to reduce their sky-high debt levels.

The IMA will create a Global Equity Income sector with effect from 1 January 2012 and is looking at a European Equity Income sector.

Struggling Hungary has moved to raise its benchmark interest rate from 6% to 6.5%, the highest ever level seen in the European Union, in order to protect its currency.