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Press Room • 2012
Press articles published in some of the most prestigious financial publications throughout the world.
Publication: Managing Partners News
Publication Date: 17/12/12
Cash-rich Asian Companies Will Drive Equities Higher in 2013
Cash-rich Asian companies will be among those corporations with healthy balance sheets driving global stockmarkets higher through acquisitions in 2013, according to Managing Partners Limited, the boutique fund management company.

On an historical basis, M&A activity is extremely cheap to finance because interest rates are so low, says Jeremy Leach, managing Director of MPL. He commented: “In the 1990s the cost of debt was 10%-plus but it can be done for a fraction of that now, so it is cheaper to raise money with debt rather than raise equity. It is far better issuing some sort of convertible debt and allowing conversion when the share price has gone up.

“Leading Asian businesses are also likely to lead the way with acquisitions in Europe because they are so cash-rich and Europe is so cheap. We could quite easily see a situation where one of the leading bank brands in Europe is acquired by an Asian bank because it has the purse strings to do it.”

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Publication: Managing Partners News
Publication Date: 13/03/12
UCIS Report
In recent years we have seen tremendous growth in interest in unregulated investments generally and unregulated collectives in particular.

There are many reasons for this but, primarily, it is the result of demand for investments which have the potential to provide performance in excess of that available through more conventional investments. This may be through specific tax ‘breaks’ or through taking advantage of asset types not available within regulated arrangements at a time when returns under more familiar investments are low and volatility is relatively high.

Looking forward, there is an additional factor which will encourage firms to look at Unregulated Collective Investment Schemes (UCIS) and that is the need for advisers to consider them and understand how they work if they are to be able to describe themselves as independent after the RDR comes into full force on 1st January 2013.

That there is a need which these investments can meet is self evident – advisers and their clients would never have used them otherwise – that there is confusion around how they can be used is equally evident.

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Publication: International Adviser
Publication Date: 17/01/12
Partial Break Up of Euro ‘Inevitable’ in 2012, says MPL
The single biggest issue stalking global equity markets at present is the Euro crisis. The threat of a liquidity breakdown and recession in Europe is restraining equities at a time when Asia is booming and many corporates around the world are sitting on healthy balance sheets.

Investors are worried about the disruption that would follow from a break up of the euro and that if any one of the vulnerable countries - Portugal, Italy, Ireland, Greece and Spain - were to default then the others would follow.

My own view is that a partial break up of the Euro is inevitable, with Greece the most likely to default and leave the single currency this year. Whether that would lead to a domino effect remains to be seen, but a clash of political and economic factors means Greece will ultimately have no choice in the matter.

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