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Whitechurch In The PressWhitechurch Securities Ltd has an enviable reputation with the personal financial editors of all the quality newspapers and specialist financial journals who regularly contact the Whitechurch Investment Team for information upon a wide range of products and services. Listed below are just a few recent comments showing the relationship and rapport we have built with the financial press over the years . The Financial TimesJune 17 2008 Article on the increase in investment in money market funds recently: ‘Because of the stock market volatility we’ve experienced, people who want to remain invested are moving into money market funds, ‘ says Ben Willis, head of research at the Bristol-based adviser, Whitechurch Securities. ‘They’re just waiting until the markets sort themselves out before moving back in. ‘ The Sunday TelegraphJune 8 2008 Ben Willis, of Whitechurch (on risk-averse investors and investing in stockmarkets), also suggests ‘… leaving a large percentage of savings on deposit and investing the rest in a cautious managed or multi-asset fund.’ The Daily TelegraphJune 7 2008 Fourth instalment of the serial feature regarding Discretionary Management Services, which includes Whitechurch Securities on panel: Another manager who has increased exposure to Japan (within discretionary portfolios) is Whitechurch. Gavin Haynes noted: ‘We have met with several Japanese fund managers recently who have turned very bullish about their own market. GDP forecasts for 2008 are being revised upward and a lot of bad news has already been discounted. We believe the recent recovery will continue as momentum gathers.’ Elsewhere, Whitechurch has been changing its specialist plays, reducing its exposure to gold and reinvesting the money in, among others, the Jupiter Financial Opportunities fund. Mr Haynes explained: ‘The sell-off among banks and other financial companies has appeared to be largely indiscriminate. While there will continue to be losers from the credit crisis, I believe that the contagion has spread to good-quality areas of the sector that now provide some excellent recovery potential. We have chosen the Jupiter Financial Opportunities fund because it is managed by the highly regarded Phil Gibb, who invests in a concentrated portfolio – around 50 holdings – of financial related companies. ‘ The Independent17 May 2008 Gavin Haynes of Whitechurch Securities, the Bristol-based financial advisers, says that while investment trust boards used to be relatively passive, they now tend to do a good job for investors. ‘Until recently, you could question how active the boards really were,’ he says, ‘But today, you’re seeing fund managers having their mandates taken away by the board fro underperformance.’ The Mail on SundayMay 11 2008 Ben Willis, head of research at adviser Whitechurch Securities in Bristol, says (on cash or money market funds): ‘You will see investors switching money into a cash fund for a short while if they feel markets are heading downwards. Then after a month or two, the money will go back into equities, waiting for the next upswing… Over the longer term, you should be getting a marginally better return (from your cash or money market fund) than from a typical High Street deposit account.’ The Mail on SundayMay 4 2008 Ben Willis, head of research at adviser Whitechurch Securities in Bristol, says (on the increasing fees being added to investment funds): ‘In the longer run, higher charges will be a bigger drag on the growth of your savings. The higher the fee, the more income or growth you need from an investment just to stand still.’You will see investors switching money into a cash fund for a short while if they feel markets are heading downwards. Then after a month or two, the money will go back into equities, waiting for the next upswing… Over the longer term, you should be getting a marginally better return( from your cash fund) than from a typical High Street deposit account. The Daily Telegraph19 April 2008 Gavin Haynes, managing director of Whitechurch Securities, is also positive (on the outlook for corporate bonds): ‘While it has paid over the past year to invest in the high-quality lowest risk end of the sector, we believe that it may pay to take on a bit more risk in future… (regarding financial sector corporate bonds) The main divide is on financials such as banks. Some managers think there is a great deal of value in this sector in particular because they believe it has been marked down too hard. Others are cautious believing the risks are still too great at this stage.’ The Daily Telegraph12 April 2008 Third instalment of a serial feature regarding Discretionary Management Services, which includes Whitechurch Securities on panel: So how do our discretionary portfolio managers try to minimise the downside for cautious investors – and can it be achieved without some element of risk? Gavin Haynes, investment directors at Whitechurch, is doubtful. He explained: ‘For investors who are ultra-cautious, we would provide a managed portfolio for the medium to long term. Clients not prepared to take on any risk would be advised to focus on cash and spreading deposits through the most secure financial institutions – with a maximum of £35,000 in each to qualify for the Financial Services Compensation Scheme.’ The Mail on Sunday16 March 2008 Gavin Haynes, managing director of Whitechurch Securities in Bristol says: ‘Despite the huge financial and investment resources at their disposal. Most large insurance companies have failed to produce good quality retail investments… However, Standard Life is the exception to the rule. It’s got some attractive funds in its stable such as UK Equity High Income and UK Smaller Companies…These are funds that the other insurers should be trying to emulate.’ The Daily Telegraph23 February 2008 Second instalment of a serial feature regarding Discretionary Management Services, which includes Whitechurch Securities on panel: Gavin Haynes, the investment director at Whitechurch, explained: “Tinkering with a portfolio and taking short-term positions is unwise. It is better to buy and hold investments, and only make switches when it is absolutely necessary. While it has been very tempting to run for cover and go defensive following the noise generated by volatile markets, it is our belief that no one has ever made money consistently by timing markets – you may get lucky once or twice, but market timing is akin to gambling, and not investing.” The Mail on Sunday24 February 2008 “(Bill) Mott is an excellent fund manager and we have been increasing our clients’ exposure to Psigma Income in recent months. Like him, we believe that the banks offer strong recovery potential… says Gavin Haynes, managing director, Whitechurch Securities, Bristol. The Mail on Sunday16 February 2008 Gavin Haynes, managing director of Whitechurch Securities in Bristol says: “despite the huge financial and investment research resources at their disposal, most large insurance companies have failed to produce good quality retail investment products. However, Standard Life is the exception to the rule. It’s got some attractive funds in its stable such as UK Equity High Income and UK Smaller Companies. These are funds that the other insurers should be trying to emulate.” The Mail on Sunday10 February 2008 Gavin Haynes, of financial adviser Whitechurch Securities in Bristol, is also a supporter (of Jupiter Income Trust’s Anthony Nutt). “He remains one of the UK’s best fund managers,” says Haynes. “You know his portfolio will focus on high-quality companies, often with an emphasis on defensive areas to meet the fund’s income requirement. He’s as sound a UK fund manager as you will find.” The Independent on Sunday3 Februaury 2008 Gavin Haynes, investment director at independent financial adviser Whitechurch Securities, explains how monthly savings can counteract the effects of market volatility: “If you invest a lump sum and there is a sharp price drop straight afterwards, it can be quite painful. It makes perfect sense to drip-feed (through a regular savings scheme), particularly in riskier areas such as emerging markets.” The Financial Times2 February 2008 Gavin Haynes, investment director at Whitechurch Securities, says Peits (private equity investment trusts) add another level of diversification to the conventional equity, bonds and cash in a portfolio and that they seemed to show low correlation to direct equity. The Mail on Sunday27 January 2008 AXA Framlington is described by Gavin Haynes of Whitechurch Securities in Bristol as an investment house ‘possessing and eclectic mix of talented fund managers’. The heartbeat of the group, says Haynes, is the UK equities team, with the three funds managed by (Nigel) Thomas and (George) Luckraft very much the flagship funds. The Daily Telegraph26 January 2008 Gavin Haynes, manager director of Whitechurch Securities, said a cautious investor should look to Invesco Perpetual Distribution. He said: “This fund aims to achieve a balance of income and capital growth through a diversified portfolio of UK equity and fixed interest securities. The fund will aim to invest a minimum of 60pc in bonds and 40pc in equities.” The Mail on Sunday20 January 2008 Gavin Haynes, Whitechurch Securities: “He’s a guru of equity income investing (Neil Woodford, Invesco Perpetual). He takes a very top-down view of macro economic themes to dictate how he invests. It often means the composition of his fund is significantly different to that of the market. His naturally cautious approach means that investment risk is carefully controlled and he is one of my favourite managers to be looking after money when stock markets are falling.” The Daily Telegraph19 January 2008 First instalment of a serial feature regarding Discretionary Management Services, which includes Whitechurch Securities on panel: Gavin Haynes, of the independent financial adviser Whitechurch, said: “While our system may seem less flexible we believe it will result in better portfolios over the long-term. We will only hold funds that complement each other and work together to fit in with our asset allocation model.” The Mail on Sunday13 January 2008 Ben Willis, head of research at financial adviser Whitechurch Securities in Bristol who compiled the figures for Financial Mail (on tracker funds and their performance), says: Over time initial charges and annual management fees will eat away returns and it is only to be expected that trackers will lag some way behind the index… The biggest downside (to tracker funds) is that you are a hostage to fortune. If the market falls in value, then your investment will fall in value. An active fund manager can take steps to lessen or avoid falls.” The Daily Telegraph12 January 2008 Gavin Haynes, managing director of Whitechurch Securities, said (on emerging markets): “With economic growth in the established economies likely to remain sluggish, this century will be characterised by the transformation of some of the emerging economies into major global economic forces.” The Sunday Telegraph6 January 2008 Ben Willis (commenting on oil and gold funds) of independent financial adviser Whitechurch Securities, notes: “The demand for oil will continue to outstrip supply, supporting a trend of rising oil prices. Our outlook for gold is bullish too. Gold is a good hedge against inflation…Gold I also used as a hedge against the dollar – generally, a weakening dollar means a rise in gold prices.” The Daily Telegraph20 December 2007 Experts give us their top predictions – corporate bonds: Ben Willis, Whitechurch Securities says “It has been another difficult year to make money in bond markets in 2007. However, looking ahead, corporate bonds are beginning to look reasonable value as the shakeout in the asset class has seen areas of the bond market looking as cheap as it has done for several years.” The Mail on Sunday16 December 2007 Among admirers of these funds (Cautious Managed Funds) is Ben Willis of Bristol-based financial adviser Whitechurch Securities. “We see them as an investment for risk-averse people who do not have a significant amount to invest but want the potential to beat deposit account returns,” he says. “By providing balanced exposure to various asset classes, they offer the potential of a rising income and long term capital growth.” The Sunday TelegraphNovember 18, 2007 “It shouldn’t be a case of do I go for an investment trust or a unit trust. Both have a place in a portfolio, but there are specialist areas that you can get into with investment trusts, such as splits,” says Gavin Haynes of Whitechurch Securities. The Daily TelegraphOctober 6, 2007 There are a growing number of funds tapping into the income story either globally and/or regionally, as Ben Willis reports. We have witnessed a number of high profile new launches in the last couple of years for funds looking for yields in Europe, Asia, Japan etc… The IndependentAugust 31, 2007 “These products (guaranteed
stockmarket bonds) are also
inflexible,” says Gavin Haynes of Whitechurch Securities. “You’re
tied in for a fixed period, and
there can be harsh penalties if you The Financial TimesJuly 28, 2007 Overall performance aside,
says Gavin Haynes, investment
director at WhitechurchSecurities, the main reason
to invest in the (equity income)
sector is the potential for income
multiplication. For example, he
says, if you start off with an
income of 3.2% per cent per
year and assume that it grows The Mail on SundayJuly 22, 2007 Ben Willis, head of research at Whitechurch Securities in Bristol says, ‘The performance really has been poor. The (Abbey National) UK Growth fund has missed its market benchmarks and underperformed its peers. The Mail on SundayApril 8, 2007 Ben Willis, head of research
with Whitechurch Securities in
Bristol, says: ‘Many Isa savers
have a goal, but you don’t need
a clear reason to save. If you can
find some surplus income and The Daily TelegraphMarch 3, 2007 It can be profitable to invest in out of-
favour funds, as Gavin Haynes reports. There is always a lot of The Mail on SundayMarch 4, 2007 ‘Regular savings can provide access to the stock market, with modest amounts of money,’ says Gavin Haynes of Whitechurch Securities in Bristol. ‘It also acts a s a disciplined way of long-term investment, ironing out the problem of any short term volatility in the stock markets.’ The TimesMarch 3, 2007 Ben Willis, of Whitechurch Securities, also likes New Star Property, as well as Norwich Property Trust. ‘Both are large funds and we prefer bricks and mortar to shares,’ he says. He is not keen on SWIP Europe Real Estate or the JP Morgan fund, saying: ‘The first invests in property shares, the latter is an unknown player here.’ The Daily TelegraphMarch 3, 2007 Fishing from the bottom up: It can be profitable to invest in out-of-favour funds, as Gavin Haynes reports – quarter page article written by Gavin Haynes, Managing Director of Whitechurch Securities for the Daily Telegraph Money section. The above press comment is to illustrate our relationship with some of the national newspapers and the full articles are available on request - please contact us. |
