After a relatively quiet 2009, it has been all go in the investment company sector during 2010 with 10 new launches raising a total of £1.16bn since the start of the year, according to the
Association of Investment Companies (AIC).
This is in comparison to just four new launches in the whole of 2009 raising £568m, says the AIC.
The new launches this year have been in nine different areas, with a focus on emerging markets and specialist sectors. This is in line with earlier
Association of Investment Companies (AIC) research from the end of 2009, in which fund managers had tipped emerging markets to be the best performing region and resources (including oil) to be the best performing sector in 2010.
So far in 2010 there have been six management group changes. With independent boards of directors responsible for hiring the manager, this illustrates their role in looking after the best interests of shareholders as markets and circumstances evolve.
"Activity in the investment company sector has most definitely picked up in 2010 in comparison with 2009,” said Ian Sayers, Director General at
the AIC.
“The most notable change has been an increased number of launches and the innovative nature of their investment strategies. Launches have been within emerging markets countries such as Brazil and more specialist sectors such as biotechnology and infrastructure. JP Morgan has launched the first-ever emerging markets income-focused company.
"After a few difficult few years, Boards have been working to ensure that their companies remain as relevant as possible in current market conditions and that they are run by the best managers.
“It has been an eventful year so far and it will be interesting to see what further developments arise as we enter the remainder of 2010."
New issues (AIC Members)
|
Month
|
Company
|
Manager
|
Structure
|
Sector
|
Launch Assets (£m)
|
|
Aug
|
Aberdeen Latin American Income
|
Aberdeen
|
Conventional
|
Latin America
|
52
|
|
Jul
|
GCP Infrastructure Investments
|
GCP
|
Conventional
|
Sector Specialist: Infrastructure
|
40
|
|
Jul
|
JPMorgan Global Emerging Markets Income
|
JPMorgan
|
Conventional
|
Global Emerging Markets
|
104
|
|
Jun
|
Polar Capital Global Healthcare Growth & Income
|
Polar Capital
|
Conventional
|
Sector Specialist: Biotechnology & Healthcare
|
89
|
|
Jun
|
NB Distressed Debt
|
Neuberger Berman Europe
|
Conventional
|
Sector Specialist: Debt
|
134
|
|
May
|
HarbourVest Senior Loans Europe
|
HarbourVest
|
Conventional
|
Global High Income
|
101
|
|
Apr
|
Fidelity China Special Situations
|
FIL Investments
|
Conventional
|
Country Specialists: Asia Pacific
|
460
|
|
Apr
|
JPMorgan Brazil
|
JPMorgan
|
Conventional
|
Latin America
|
46
|
|
Apr
|
Baker Steel Resources
|
Baker Steel
|
Conventional
|
Sector Specialist: Commodities & Natural Resources
|
66
|
|
Apr
|
Aberforth Geared Income
|
Aberforth
|
Split Capital Trust
|
UK Smaller Companies
|
75
|
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