IG Group shares down: ‘Unexciting markets’ cause 21 per cent profit drop January 25, 2024 IG Group experienced a 21 per cent drop in adjusted profits before tax in the second half of 2023, which acting CEO Charlie Rozes credited to “unexciting markets” for its clients. The group’s share price fell 9.5 per cent on open this morning, before recovering slightly. Speaking to City A.M, Rozes said that he thought [...]
St James’s Place brings in £5.1bn of new money as funds swell by £20bn January 25, 2024 This growth largely came from its pensions arm, which swelled by over £6bn in the final quarter of the year, compared to £1.6bn in its investment arm and £1bn in its discretionary fund management wing.
Treasury changes will hit angel and small investors ‘hard’ – with start-ups fearing the worst January 25, 2024 Hundreds of top investors in tech and start-ups called on the Chancellor to reconsider plans that could shut out 'angel investors' from fast-growing firms
Back in the game: Venture Capital Trust to raise after Chancellor’s stay of execution January 25, 2024 A venture capital trust (VCT) is set to launch a £50m fundraise on the London Stock Exchange next month in one of the first major moves since Jeremy Hunt delayed a phase-out
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