UK - Investec Asset Management is urging investors to take a more selective approach to stocks over the coming months.
In its monthly investment review Investec recommends that asset allocators steer clear of large caps and technology groups which the firm considers to be overvalued and vulnerable to downward pressure on prices and margins.
Chris Carter, head of strategy at Investec said that the firm is pushing mid-caps because as a group their earnings are holding up much better in the current economic environment.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.