Mastercard snaps up stake in $5.2bn fintech arm of South African telecoms giant August 14, 2023 Mastercard has snapped up a minority stake in the fintech arm of South African telecommunications giant MTN in a deal that values the division at more than $5bn, the telecoms firm announced today. MTN, Africa’s biggest mobile company which has operations across the continent, said in its half year results that the deal would be [...]
Plus500 unveils $120m payout in bid to turn around share price slump August 14, 2023 Fintech trading firm Plus500 has unveiled a fresh $120m payout for investors this morning despite reporting a slump in profits compared to last year amid “quieter market conditions”.
Who let the dogs out? St James’s Place tops list of poor performing ‘dog fund’ managers August 13, 2023 It seems the Baha Men’s 23-year-search for a canine-freeing culprit may finally be over. Who let the dogs out? It was money manager St James’s Place. The London-listed firm, which manages some £157.5bn for investors, currently manages £29.3bn in laggard funds and has seen four of its vehicles labelled as the biggest ‘dogs’ in the [...]
Aviva, L&G and Admiral to report next week as long-time insurance boss Sir Nigel Wilson eyes exit August 11, 2023 Investors will need to figure out the impact of new accounting rules next week as three of the country’s biggest insurers report their financial results. It will also be the final set of half-year results for Legal & General boss Sir Nigel Wilson, who is set to depart later in 2023. “Sir Nigel steps down [...]
Abrdn share price tumbles 10 per cent as £4.4bn pulled by clients so far this year August 8, 2023 The share price of FTSE 100 firm abrdn slumped after the fund manager reported a major fall in assets under management and administration (AuMA) in the first half of the year. AuMA dropped to £495.7bn, down from £500bn at the beginning of this year as it reported net outflows of £4.4bn in the first six [...]
Quilter share price rockets after seeing adjusted profit and AuMA rise August 8, 2023 Quilter delivered an increase in assets under management in the first half of the year, helping the money manager record a rise in adjusted pretax profit.
Liontrust gets green light from FCA for GAM takeover as battle with shareholders heats up August 8, 2023 Liontrust has secured the approval of the City watchdog for its proposed takeover of the ailing Swiss fund manager GAM Holdings. Liontrust described the approval as a “major step forward” in the team as it enables the fund manager to take control of GAM’s UK regulated entities. The green light from the Financial Conduct Authority [...]
IP Group boss: There have never been more stakeholders calling for Mansion House reforms August 2, 2023 Reforms to boost investment in the UK’s high-growth companies have support from across the sector, the boss of a FTSE 250 IP Group told City A.M. “There have never been more stakeholders across the sector – be it regulators, capital providers, the stock exchange and companies – saying that this is something which is important,” [...]
Investec Wealth and Rathbones tie-up gets green light from regulators August 2, 2023 Investec confirmed today that the proposed merger of Rathbones and its Wealth & Investment arm has secured regulatory approval. In a statement this morning, Investec said “all regulatory clearances in connection with the combination have been received”. The financial services firm said it expects the deal to be completed on 21 September provided the City [...]
Man Group shares slide as revenue from fees plummets August 1, 2023 Shares in Man Group slid this morning after the hedge fund reported that its revenue had slumped in the first half of the year. Although in line with expectations, performance fees were slashed to $32m, down from $404m in the same period last year. The London-listed hedge fund said this was primarily the result of [...]