Dealers' Early Call
The FTSE 100 is called to open 31 points higher at 7540. Stocks in Asia traded mixed Friday as trade-tensions resurfaced. Treasuries held losses seen after a U.S. inflation reading that came in above expectations. Shares edged lower in Australia and Japan, and posted modest gains in Hong Kong, China and South Korea. European and U.S. futures ticked higher after the S&P 500 ended Thursday at a fresh record. Earlier, a tweet from President Donald Trump, complaining about China trade policy, sent equities into a fleeting swoon and showed how sensitive the market remains to trade-related developments.
News in brief
At its recent Annual General Meeting, JP Morgan American Trust voted to approve changes to its investment process. The trust will move towards a more concentrated, active approach, and ultimately a somewhat higher risk approach. This is part of a wider trend we are seeing across active management; fund and trust managers are increasingly moving towards higher conviction portfolios in an effort to differentiate themselves from passive offerings.
Interview with Adrian Frost Portfolio Manager of the Artemis Income Fund
How did you start your career in finance?
Badly. I started as a stockbroker when the city was still a cottage industry. The broker went bust (it was then acquired by Quilter Goodison!) Two other jobs followed in quick succession with a futile attempt to join a brewery in between.