UK: Standard & Poor's downgrades seven funds

Article Abstract:

Standard & Poor's (S&P), rating agency, has downgraded seven actively managed funds, because of the fall in equity markets worldwide. These were Gerrard, Schroders, JP Morgan Fleming, Newton, Royal & SunAlliance, and Fidelity Investments. According to S&P Fund Research, in the year to 1 September 2001 cautiously managed funds, which cannot invest more than 60% in equities with a European-focus, were the better performers.

United States, Commercial Banks, Commercial Banking, Life Insurance, Direct Life Insurance Carriers, Financial Services, Finance and Insurance, Financial analysis, Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Abstract, Mutual funds, Schroders PLC, Fidelity Investments, Royal & Sun Alliance Insurance Group PLC, Gerrard, J.P. Morgan Fleming Asset Management, Newton Asset Management

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UK: FOUNDER OF JUPITER SETS UP RIVAL FIRM

Article Abstract:

John Duffield, a multi-millionaire, who founded Jupiter, has set up New Star Asset Management Group, which will compete with Jupiter. Duffield has acquired, for GB[pound] 11.5 mn, World-Invest Holdings, institutional investor, which has 14 bond fund and equity managers, and holds around GB[pound] 1.2 bn on behalf of 30 institutional customers in North America, European mutual funds and specialist hedge funds.

Jupiter Corp.

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UK: JUPITER OFFERS FUND OF HEDGE FUNDS

Article Abstract:

Jupiter Asset Management's Fund of Hedge Funds is designed to offer investors the chance to make absolute returns irrespective of the performance of the markets. The minimum investment in the new fund, which is listed on the Irish Stock Exchange, is US$ 100,000. Jupiter anticipates significant expansion in the hedge fund sector in the next few years.

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