Martin Currie News
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Devan Kaloo led Aberdeen Emerging Markets Fund to top risk-adjusted returns by picking the best stocks in the most volatile industries, beating peers from Fidelity Investments to Franklin Resources Inc.’s Mark Mobius.
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Martin Currie Investment Management Ltd., an Edinburgh-based fund management group, was fined about $14 million by finance regulators in the U.S. and U.K. for manipulating a client to aid a hedge fund the firm managed.
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Chris Ruffle, who co-managed the best emerging market hedge fund last year according to Hedge Funds Review, plans a new China offering after he parted company with Martin Currie Ltd. today following an investigation into a conflict of interest.
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European Union governments have scrapped plans for finance ministers to thrash out an accord next week on tougher rules for credit ratings companies.
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Scottish Widows Investment Partnership, one of Edinburgh’s two largest fund companies, lost its emerging-markets team to a smaller rival in the city.
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Martin Currie Ltd. and AMP Capital Investors said stock-index futures will let them hedge in China and more effectively compete with local fund managers as the nation prepares to open the market to foreign institutions.
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Chinese property stocks, the nation’s worst performers this year, are becoming “more attractive” after government curbs on bank lending drove valuations to a year-low and made interest rate increases less likely, Martin Currie said.
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The oil leak in the Gulf of Mexico divided politicians and scientists on how to deal with the worst-ever accidental offshore spill. It also split managers of U.S. stocks more than 4,000 miles away in Scotland.
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Justin Leverenz, who runs the $25 billion Oppenheimer Developing Markets Fund, is beating 97 percent of his peers by ignoring the economy.
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The best Chinese stock values these days are in Taiwan, where dividend yields lead Asia’s 10 biggest markets and economic growth matches the mainland, said Chris Ruffle , manager of the island’s best-performing mutual funds.
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