NeoNet to buy Lexit Group
SWEDEN - International equities agency broker NeoNet is to acquire the Lexit Group, a US corporation provides execution services for institutional clients. Lexit co-founders Peter Kearns and Johan Carlsson will take on positions within NeoNet on the group's executive management team once the transaction is completed. Hjalmarsson & Gunterberg Corporate Finance is acting as financial advisor to NeoNet in connection with the deal.
Schroders talks up Brazil
BRAZIL - Brazil’s falling interest rates and reform progress offers value in the medium term, says Schroders. James Gotto of Schroders’ emerging market equity team said that in the short term inflation is still high meaning the Central Bank has kept domestic interest rates at a level which is negatively impacting the domestic economy. But he added: “We believe inflation will soon start to fall, allowing interest rates to be cut during the second half of the year and growth to start picking up.” Schroders also believes that social security and tax reforms will be approved by the Brazilian Congress, although the final form and timing of the reforms may change.
Gartmore stays hot on Latin America
Gartmore is bullish on prospects for Latin American equities, believing they should continue to benefit from an improving domestic economic and political situation. Gartmore fund manager, Chris Palmer, said: Latin America countries are less affected by the global themes which have dominated other markets.” He added that although Brazil will be volatile over the next few months, while the new administration implements its socialist economic program, the recovery offers attractive long-term prospects. “The appreciation of the currency and strong equity market performance reflects foreign investors already warming attitude, he said.
The PPI has unveiled a policy paper outlining current considerations and policy debates relevant to DC scheme default strategies. Kim Kaveh explores some of its views.
The £30bn local government pension pool has appointed Quoniam and Robeco to manage an active equity portfolio worth around £400m.
The volume of insured buyouts from FTSE 100 defined benefit (DB) schemes could increase from £5bn to £300bn by 2029, according to Lane Clark & Peacock (LCP).