IMA

The idea of absolute return investing generates an enormous amount of hot air and vitriolic debate for what is a relatively small amount of money.

SPECIAL REPORT

Equity funds saw their highest net retail sales for nearly two years in February, the Investment Management Association (IMA) said today, with net inflows of nearly £1bn.

It took a brave asset manager to launch a European equity fund in the autumn of 2011.

Most people don't know what investment management is and even fewer understand what asset managers do. But what this industry does is really important, both for individuals and the economy as a whole.

Almost half the funds in the IMA Global Equity Income sector have cut dividend payouts over the past year, leading some wealth managers to caution income hunters when allocating to the increasingly popular space.

Ariel Bezalel has been adding gold mining debt to the £1.5bn Jupiter Strategic Bond fund, in expectation the gold spot price could hit as much as $3,000 per troy ounce in the next 12-24 months.

Philip Milburn, manager of the £1.5bn Kames High Yield Bond fund, is avoiding taking on extra risk in his portfolio this year, as he does not expect the extra yield on offer from CCC-rated bonds will be sufficient to make up for the default risk.

GOSLING'S GROUSE

Threadneedle is preparing to soft-close Philip Dicken's £1bn Pan-European Smaller Companies fund, Investment Week understands.