Private equity dealmaking slumped 20 per cent as UK financial services bucked trend January 24, 2024 Throughout the entire market, it reported that deals had fallen even more significantly, dropping from 1,802 in 2022 to 1,451.
‘Size does matter’: JP Morgan set to merge trusts as they’re too small January 24, 2024 JP Morgan Asset Management is set to merge its the Multi-Asset Growth & Income trust (MATE) into its Global Growth & Income trust (JGGI), due to MATE’s small size. In a stock exchange notice today, the two trusts said MATE would be folded into JGGI, creating the largest investment trust in the global equity income [...]
London faces yet another exit as listed fintech extends takeover talks January 24, 2024 London-listed fintech Equals Group has extended a ‘put-up-or-shut-up’ deadline for a takeover today as it mulls whether to become the latest firm to leave London’s markets this year.
Abrdn confirms 500 jobs to be cut as part of £150m saving plan January 24, 2024 Abrdn is set to cut 500 jobs as part of a new £150m profit saving programme, as the firm suffered £12.4bn in outflows in the second half of last year, it revealed in a trading statement today.
Quilter: Asset manager bucks industry trends with positive net flows January 24, 2024 Quilter has bucked the trend of sustained outflows experienced by other asset managers in recent months, gaining £56m in inflows in the last quarter of 2023. In a trading statement today, the firm reported that its assets under management and administration increased five per cent between September and the end of the year, to £106.7bn. [...]
The hedgies who sniffed out Wirecard have a new target: the AI bubble January 23, 2024 A hedge fund which looks for companies with 'funny smells' thinks 'AI euphoria' is skewing valuations
Shareholder revolt at All Bar One owner Mitchells & Butlers as one in three vote against chairman January 23, 2024 Almost one in three shareholders in All Bar One owner Mitchells & Butlers voted against the reappointment of its chairman at the group's annual general meeting.
Comeback kid: Embattled energy trust seeks to restore London listing after delayed results January 23, 2024 The Asian Energy Impact trust is seeking to restore its London listing after publishing delayed annual and interim results, following months of controversy around the trust. In April, the trust’s shares were suspended after an issue was identified with its 2022 annual results, leading to ‘material uncertainty’ over the fair value of some of its [...]
Abrdn begins cost-cutting push with job losses: Reports January 23, 2024 Asset manager Abrdn is set to cut hundreds of its job as it continues its cost-cutting effort, according to reports.
Leading fund managers: ‘The storm is easing’ – but it’s a fool’s game to second guess the market January 23, 2024 Fund managers at Bailile Gifford said “the storm was easing” on global markets today as the firm’s London-listed US fund narrowed the heavy discount that has plagued firms across the investment trust sector.