Ignis Argonaut European Income A Accumulation
HL comment
Our view on this Fund
In November 2008 Resolution re-brands as Ignis Asset Management and this fund will change name to reflect this. Whilst European markets have struggled in the global downturn, Oliver Russ has found pockets of value in a wide range of sectors. Exposure to the telecoms and utilities has proven helpful. There is also a bias in the energy and financial sectors which he believes will turnaround in a recovery.
12-11-2008
Information from the fund manager
Please note: The information in this box has been provided by, and is issued by, the fund manager and not Hargreaves Lansdown.
HL group comment: Ignis Asset Management
Our view on this Fund Management Group as a whole
Resolution Asset Management rebrands to Ignis Asset Management.
Resolution Asset Management re-brands as Ignis Asset Management on 17 November 2008. Resolution was originally formed in 2003 and it was sold earlier this year to Pearl Group, the life insurance business.
Ignis is the Latin word for fire, burn or spark. The new name is intended to keep the existing business ignited and it does not signal a significant change of direction. The company will continue with its core strategy seeking to provide best in breed investment management propositions.
The group will continue to support its joint venture boutique businesses including Argonaut, Cartesian, Hexam and Maia. While these businesses will retain their own identities, the fund names will now be pre-fixed with Ignis instead of Resolution. Other than the change in name it is business as usual.
17-11-2008
HL sector comment: Europe Excluding UK
Our view on this sector
Prospects for Europe look difficult with a strong Euro making exports uneconomical. The European Central Bank has finally reduced interest rates, although many argued this should have been done sooner. The European banking sector has also been caught up in the sub prime crisis. Despite this, there is value to be found for those investors looking at a long term investment.
20-11-2008