Asset manager Schroders cuts jobs in restructuring drive December 5, 2019 Asset manager Schroders is embarking on a restructuring drive that will place more emphasis on growth areas including private assets and wealth management but will lead to job cuts. The restructuring effort could lead to around 200 job cuts globally, Reuters reported, citing a source familiar with the matter. Read more: AJ Bell fears ‘domino [...]
AJ Bell boss fears ‘domino effect’ after M&G fund suspension December 5, 2019 The suspension of M&G’s £2.5bn property fund risks triggering a “domino effect” in the sector as investors rush to withdraw their money, the head of investment platform AJ Bell has warned. Andy Bell told City A.M. the suspension could be “contagious” for the sector because a “domino effect” could lead to further property fund suspensions. [...]
Equity funds show signs of recovery following record outflows December 5, 2019 Equity funds bounced back to net inflows in October, with the sector showing signs of recovery following a bruising third quarter of record outflows. Investors ploughed £648m into equities in October in a much-needed boost for the funds following £1.7bn outflows the previous month, according to data from the Investment Association (IA). Read more: M&G [...]
Why another property fund freeze was inevitable December 5, 2019 Why does it feel like we have been here before? Well, it’s because we have. It wasn’t that long ago when thousands of investors in property funds flocked to the exit door after the referendum, forcing several major asset managers to temporarily block withdrawals. So cue the deja vu when M&G yesterday suspended trading in [...]
Private wealth becomes main source of funding for European venture capital December 3, 2019 Private wealth is now the main source of funding for European venture capital, according to a new report, as a new generation of entrepreneurs ditch more traditional assets in favour of funding the next generation of startups. A fifth of fundraising by European VC firms in 2018 came from family offices and private individuals as [...]
Women and Wealth: Three findings and their risks December 3, 2019 | City Talk In a decade of researching women and finance, I have interviewed more than 800 highly accomplished women globally from diverse ages, backgrounds and industries. My three main findings relate to women’s preferred communication style for investing, the types of investments that appeal to most women, and attitudes to risk-taking. So, what are these three findings, [...]
Premier hit by outflows ahead of merger with Miton November 28, 2019 Premier swung to net outflows in a “difficult year” as it finalised its merger with Miton, with Brexit uncertainty weighing on the asset manager. In its last results before the merger takes effect, Premier revealed that its assets under management (AUM) slipped from £6.9bn to £6.6bn for the year ending 30 September. Read more: Rathbone [...]
Rathbone Brothers buy Barclays Wealth personal injury business November 28, 2019 Rathbone Brothers has said it will buy the personal injury and court of protection business of Barclays Wealth. The wealth and investment manager will acquire the business, which comprises £500m funds under management on behalf of around 600 clients, for an undisclosed sum. Read more: Rathbone Brothers’ shares fall as it warns on tighter profit [...]
Revealed: the global league table of pension worry November 27, 2019 | City Talk Where in the world are investors most concerned about their pension savings? Schroders surveyed over 25,000 investors to find out. Experts often warn of a growing crisis in retirement saving. A study by the World Economic Forum, for example, calculated that the total shortfall in some of the world’s largest pensions markets would grow from $70 [...]
Portfolios of biggest asset managers ‘misaligned’ with climate targets November 27, 2019 The world’s largest asset managers – responsible for a collective $37 trillion (£29 trillion) – are failing to invest in a manner that supports the goals set out in international targets on climate change, according to research released today. The investment portfolios of the 15 biggest asset managers are “misaligned” with the goals of the [...]