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Beautiful Game, Ugly Investment

Travelling back from Sunday’s draw between Liverpool & Arsenal (it was never a sending off), I noted Liverpool Football Club had again made the business pages for all of the wrong reasons (see here).

The current battle between RBS, the principal creditor to LFC, and its owners Tom Hicks and George Gillett continues to highlight the dangers of utilising leverage to buyout companies in certain in…

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LBOs and IPOs: have European equity investors woken up?

Back in January at our Annual Investment Forum I focussed on the changing face of the European Leveraged Finance markets – those companies financed with significant levels of debt. My belief is that the current, somewhat forced reinvention, will ultimately result  in an increasingly deep and liquid European High Yield market (EHY), more akin to that of the USHY market.

This change, which is alr…

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The M&G Optimal Income Fund

Apologies for the low number of posts this week – we’ve been preparing for Friday’s (8th December) launch of the new M&G Optimal Income Fund, run by Richard Woolnough. This is our first “specialist” bond fund to utilise UCITS III wider powers, and allows the fund manager to have a lot of flexibility in managing exposures to different bond asset classes (i.e. high yield, governments, investment …

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