Weekly briefs
NBFS goes with Frank Russell, Mercers get Spicers, Call for IAFP remits, Tower launches cash forcaster.
Sunday, April 26th 1998, 12:00AM
NBFS goes with Frank RussellNational Bank Financial Services has outsourced management of its Emerging Markets fund to Frank Russell.
The fund will buy units in Russell's Global Emerging Markets equity fund, which uses a multi-manager, multi-style approach, rather than gaining an exposure to these countries via separate listed investment vehicles.
The Russell fund aims to provide capital appreciation by outperforming the ING/Barings Extended Emerging Markets index by 2.5 per annually over three-year rolling periods.
The fund uses three managers, namely;
- San Francisco-based Montgomary, which is a quantitative top down manager
- JP Morgan New York, Singapore and London), which is a value orientated manger
- Genesis, London, which adopts a fundamental, bottom-up approach.
Mercer gets Spicers
FPG Research and IPAC Securities may not be casting their eye over the funds at Spicers Portfolio Management, but Mercer Investment Consulting is.
Spicers have been included in the Mercer survey of wholesale managers and has come out well.
According to Mercer, Spicers have total super assets of $585 million and the $223.9 million fund included in its survey was ranked 8th in performance over the year to March 31 with a 20.8 per cent return before expenses and taxes.
Guardian Trust Funds Management was the top performer over the one year and three month period with returns of 25 per cent and 7.9 per cent respectively.
Call for remits
Members of the Association of Investment Advisers and Financial Planners wanting to put remits forward for the annual meeting need to have them into the national office by April 30.
The AGM is to be held on July 31, and the venue is yet to be decided.
Remits are likely to be discussed at the next board meeting which is scheduled for mid-May.
Cash forecaster
Tower Retirement Investment has launched a user-friendly cash flow spreadsheet programme for investors.
The Cash Forecaster provides spreadsheets enabling users to see where their money goes, and how much can be put towards savings.
The lack of budgeting and not lack of income is often the reason people don't save, TRI managing director Stuart Fish says.
The programme retails for $14.95 and can be ordered by phoning 0800-4TOWER (0800-486937).
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