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No chance : Answers needed as industry reacts to Woodford s slated return to fund management
Shamed manager s comeback met with fury
Woodford recently announced he would launch a Jersey-based biotech fund
Neil Woodford s proposed return to the financial services industry has been met with mixed reviews, ranging from surprise, disappointment and confusion to calls for him to be banned from managing money entirely.
Within days of the announcement in his interview with The Sunday Telegraph, the Financial Conduct Authority (FCA) and Jersey Financial Services Commission (JFSC) both released statements confirming the.
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Some investors try to turn these cycles to their advantage by systematically selling their winners and buying their losers. In other words, selling high and buying low. It sounds like a recipe for success but like everything in investing, tricky to get right in practice.
Right now, that would mean selling expensive US stocks, particularly in the technology sector, and piling into underperforming regions such as the UK and Europe.
High valuations in key markets mean that we are in a new “cycle” and investors need to reposition themselves, says Joe McDonnell, Neuberger Berman’s head of portfolio solutions EMEA. “We support continued cyclical rebalancing, and this should be relatively positive for the UK, Europe and Japan, versus the US.”
Hawksmoor snapped up by private equity giant Carlyle Group
Follows acquisition of Harwood Wealth Management in March last year
Hawksmoor Investment Management is being acquired by Hurst Point Group, the portfolio company of global investment giant The Carlyle Group.
It is expected that a “number of share- and option-holders will roll over their stake in Hawksmoor into shares in Hurst Point Group”, the firms said in a statement.
Hawksmoor will become a separate subsidiary of Hurst Point Group.
The completion of the transaction is subject to Financial Conduct Authority regulatory approval and other customary conditions.
The financial terms of the deal were not disclosed.