Latest News
Neil Dwane comments on the Bank of England’s debt market plan and Royal Bank of Scotland’s (RBS) rights issue
“A Faustian bargain has clearly been struck in the USA and the UK. No more forced bankrupt takeovers or nationalisations and nearly all the liquidity you need, but existing shareholders must suffer through dilutive rights issues and dividend cuts.
“Since last summer, we have lived with the triple axes of deleveraging, constraints on capital after the boom of balance sheet expansion, and a liquidity crisis. Slowly politicians, regulators and now banks are prepared to face the necessary solutions. Deleveraging must occur and keep occurring as most financials are ludicrously leveraged. However, the markets need an orderly process; hence we now see more use of mark-to-myth Level 3 assets in the USA and a common recognition that the ABX and ITRAXX indices are overreflecting the level of ultimate bad debts. Constraints on capital remain powerful and after many burnt fingers at several of the sovereign wealth funds, management now realise that there is not a quick fix and that the old uber-leveraged balance sheet model needs more capital. To facilitate both objectives, the markets need liquidity, something that the ECB recognised on day 1 but which the US Federal Reserve and yesterday the Bank of England reacted to, as well.
23/04/2008 More
RCM appoints Peter Ames to Investment Trust team
RCM (UK) Ltd, a specialist global equity company of Allianz Global Investors, is pleased to announce the appointment of Peter Ames as a Director in its Investment Trust team.
17/04/2008 More
Neil Dwane comments on Bear Stearns' collapse, the wider implications for the investment banks and the financial sector as well as the long term consequences
“What is genuinely terrifying for financial markets is the power of market rumour. Despite being widely quoted in the press and media as saying that they had adequate liquidity and funding, in the space of some 48 hours, many counterparties withdrew their lines of commitment with Bear Stearns, so that by the morning of Friday 14th March, Bear Stearns did have a liquidity and a solvency issue.
18/03/2008 More
RCM awarded US$70m Global Equity mandate by Arcus
RCM, the specialist global equity company within Allianz Global Investors, has been appointed by Arcus Investment Management (a subsidiary of AXA New Zealand) to run a US$70m Global Equity mandate. The mandate will be managed by RCM's Global Equity team in London, which is led by Lucy Macdonald, Chief Investment Officer for Global Equities.
25/03/2008 More
"Market falls will create buying opportunities", says manager of RCM Technology Trust
• Net asset value per ordinary share up 15.3% compared with benchmark return of 7.3%1
• Trust holding more cash to take advantage of anticipated price falls
• Prospects look bright for consumer-related technology, solar power and Chinese internet stocks
• Corporate activity will increase in technology sector
18/02/2008 More
Charter European Trust outperforms as it hits its 100th anniversary
• Concentrated portfolio and flexible stock picking strategy proves successful
• Net Asset Value per share up 18.2% compared with benchmark return of 14.4%1
• Top performing investment trust in AIC Europe sector for year ended 30th November 20072
• Careful stock selection remains key in 2008 as well as emphasis on growth shares
06/02/2008 More
Brunner outperforms with exposure to UK mining and engineering, and emerging markets stocks
• Brunner Investment Trust’s net asset value per share up 15.6% compared with the benchmark return of 6.3% in the financial year to end November 20071
• Net dividends up by 10.3%1
• Trust benefits from strong performance from UK mining and engineering companies, and emerging market stocks
• Growth shares predicted to outperform value shares in 2008
• Proposed change in benchmark to 50% FTSE All Share and 50% FTSE World Index ex UK
29/01/2008 More
RCM responds to Fed rate cut and market volatility
Andreas Utermann, CIO at RCM, the active equity company within Allianz Global Investors comments:
“Whether the measures put in place by the Fed will have the desired effect, or will additionally unnerve investors, remains to be seen. In the medium term, i.e. within the next 6 months, we expect continuing volatility within equity markets.
29/01/2008 More
RCM predicts higher market volatility for coming year
Andreas Utermann, Chief Investment Officer at RCM, a specialist global equity company of Allianz Global Investors, expects 2008 to be a substantially more difficult period for stocks than previous years have been. Thanks to solid business figures, RCM is taking an optimistic view of the coming year, with equities noticeably outperforming bonds, but believes volatility will be higher. The importance of stock selection will increase in an environment where risks and opportunities will be evenly balanced.
06/12//2007 More
Consumers key driver of technology sector, says RCM
- On the six month anniversary of RCM’s appointment as investment manager, the RCM Technology Trust plc has returned 21.4% against an Index return of 13.3%*
- Technology for the consumer, the internet, solar power and China cited as key growth themes
- Trust steering away from traditional technology sectors at present
For the six month period following the appointment of RCM’s Walter Price and Huachen Chen the RCM Technology Trust PLC – formerly Finsbury Technology Trust – has returned 21.4% compared with an Index return of 13.3%*. Walter Price, co-manager of the Trust, is positive about the medium term outlook, with the sector being driven by several key themes.
05/11//2007 More
Russell appoints RCM for Euro 77m French Equity mandate
RCM (UK) Ltd, a specialist global equity company of Allianz Global Investors, today announced that it has been awarded a Euro 77 million French Equity mandate by Russell Investments. Russell manage the Multi-Style, Multi-Manager Funds plc Actions France Fund, a UCITS Variable Capital Company domiciled in Ireland.
01/11/2007 More
Northern Trust appoints RCM for Nordea Choice European Equities Fund
RCM (UK) Ltd, a specialist global equity company of Allianz Global Investors, today announced that it has been awarded a Euro 29 million Pan European Equity Growth mandate by Northern Trust Global Advisors, the manager of managers business of Northern Trust Global Investments (”NTGI”). The mandate will form part of the Nordea Choice European Equities Fund, a UCITS Variable Capital Company listed on the Finnish Stock Exchange, for whom NTGI act as portfolio manager.
03/10/2007 More
RCM signs Principles for Responsible Investment
RCM, the active global equity company within Allianz Global Investors, has signed the Principles for Responsible Investment, an investor initiative in partnership with United Nations Environment Programme Finance Initiative and the UN Global Compact.
The Principles for Responsible Investment (PRI) focus on the role of financial markets in sustainable development. They were developed by an international group of institutional investors, under the auspices of the UN Secretary General, as a framework reflecting the increasing relevance of environmental, social and corporate governance (ESG) issues to investment practices. The Principles are voluntary and provide guidance for investment professionals to incorporate ESG issues into mainstream investment decision-making and ownership practices.
10/09/2007 More
RCM’s views on the recent market volatility
Andreas Utermann, Global CIO for RCM, the active equity manager within Allianz Global Investors, comments on the recent market turbulence:
“Our analysis suggests we are about to enter the second phase of the unwinding of the credit excesses, with further casualties in the financial sector and among investors expected. This could go on for the next six to twelve months, maintaining, at higher levels, increased volatility and risk premium in many asset classes. We would expect significantly increased clarity about the size of the losses to have emerged by mid-October, providing a basis for the start of a return to more normal credit markets and a positive 2008 for equities.
05/09/2007 More
RCM Technology Trust proposes Subscription Share issue and use of derivatives
• Proposals to implement a bonus issue of Subscription Shares
• Plans to introduce exposure to derivative instruments
The RCM Technology Trust PLC has announced plans to employ derivatives in its investment approach, as well as proposals for a bonus issue of Subscription Shares.
23/07/2007 More
Northern Trust looks to RCM for Eurozone Equities
RCM (UK) Ltd, a specialist global equity company of Allianz Global Investors, today announced that it has been awarded a Euro26m Euroland Equity Growth mandate by Northern Trust Global Advisors, the manager of managers business of Northern Trust Global Investments (”NTGI”). The mandate will form part of the Northern Trust Eurozone Equity Plus Fund, an Irish UCITS Variable Capital Company listed on the Irish Stock Exchange.
Roger Miners, Head of Institutional Business Development & Client Service at RCM, commented:
“We are delighted to be able to work in partnership with NTGI. We believe this is further recognition of RCM’s core regional competencies.
27/06/2007 More
RCM awarded Euro250m Global Equity mandate by London Borough of Ealing
RCM, a specialist global equity company of Allianz Global Investors, has been appointed by London Borough of Ealing to run a Euro250 million Global Equity mandate. The mandate will be managed by RCM's Global Equity team in London, which is led by Lucy Macdonald, Chief Investment Officer for Global Equities.
02/05/2007 More
RCM Technology Trust predicts an upturn for high growth technology shares
• RCM appointed manager to Finsbury Technology Trust from 1st May 2007 (renamed RCM Technology Trust1)
• Innovations in consumer entertainment to boost mid term potential
• Spotting future market leaders key to a successful investment
01/05/2007 More
RCM appointed manager of Finsbury Technology Trust
• Trust to be renamed RCM Technology Trust, subject to shareholder approval
• To be managed by leading US technology team1
The Board of Finsbury Technology Trust has today announced that it has appointed RCM, the specialist global equity company of Allianz Global Investors, as investment manager. The appointment to the £60 million Technology Trust follows a competitive pitch earlier this year.
06/03/2007 More
RCM awarded Euro400m UK High Alpha mandate by Russell
RCM, the specialist global equity company of Allianz Global Investors, has been appointed by Russell Investment Group to run a Euro414.4 million UK High Alpha mandate. The RCM UK High Alpha product will form part of the Russell RIC UK Equity Fund.
30/01/2007 More
RCM boosts research team with two senior appointments
RCM, the specialist global equity company of Allianz Global Investors, today announces two senior appointments to its 70-strong global research team. Markus Golinski will join as a Director and will head up the RCM European Technology team. He will also assume responsibility for the Allianz-dit Technology fund. In addition, Dr. Connie Schuemann joins RCM’s European Healthcare team as an analyst and will manage the Allianz-dit Healthcare fund.
24/01/2007 More
RCM announces Appointment of Bibi Tabisim
RCM has today announced the appointment of Bibi Tabisim to the Institutional Business Development and Client Service team in the UK. As a Director within the team, Bibi will be responsible for UK pension funds and charity clients, and will report to Roger Miners, Head of Institutional Business Development & Client Service.
17/07/2006 More
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The press releases on this website are based on information believed to be accurate and reliable at the time of publication, however, this information may now have changed. Facts and statistics contained in these documents will quickly become out of date and should not be used for the purposes of making an investment decision, anyone who acts on the information does so entirely at their own risk. Intended for Intermediate Investors as defined by the Financial Services Authority or Financial Advisers registered with the Financial Services Authority. Persons of any other description must not rely on this information.
