One quality to look for when choosing an investment fund is the longevity of the fund manager. Yesterday was a busy day for fund manager movements.
Figures released today by the Investment Management Association (IMA) show that gross sales of Individual Savings Accounts (ISAs) were the highest ever for any October. They were also the highest monthly figure outside the ISA season since June 2000.
The FTSE 100 index of leading UK company shares finished the week at 5,245.73, up 51.60 points or 0.99% on the day and down 5.68 points (-0.11%) over the week.
Think about Dubai and you probably picture great weather, sandy beaches, luxury hotels and and modern cities. News yesterday that State-owned Dubai World wants to delay repaying its debts for six months had a big impact on global stockmarkets, with the FTSE 100 closing down -3.18%. Has the Dubai bubble finally burst?
The big news in the world of fund management this morning is the return of Anthony Bolton to running money. Bolton, arguably one of the most successful investors of his generation, will be relocating to Hong Kong to manage a new China fund for Fidelity.
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