Merian Global agrees first acquisition since spinoff October 10, 2019 Merian Global Investors has agreed to acquire Kestrel Investment Partners’ multi-asset business, in its first acquisition since its management buyout from Old Mutual in June last year. The acquisition will boost Merian’s £26.4bn of funds under management with Kestrel’s $151m (£123m). Read more: Investment firm responsible for £1bn assets goes into special administration Kestrel’s entire [...]
Is Brexit making Britain a bargain for foreign investors? October 9, 2019 | City Talk The pound has been one of the biggest casualties of Brexit so far. Sterling has lost around 10 per cent of its value against the US dollar and the euro since the UK voted to leave the EU in June 2016 and shed 5 per cent versus the yen. It has lost over 16 per [...]
Investment firm responsible for £1bn assets goes into special administration October 9, 2019 Reyker Securities, an investment management firm responsible for £1bn of assets, has entered special administration amid “financial difficulties” following a failed attempt to sell the firm. The company, which has around 15,000 clients, had been pursuing an accelerated sales process, but the Financial Conduct Authority (FCA) confirmed this fell through. Read more: UK fund outflows [...]
Saving early in life – you must be joking! October 9, 2019 | City Talk As adults, we all wish we had saved and invested more, especially earlier on in life. How much easier retirement would be for most of us had we only paid in an extra few pounds a month into the retirement pot. The wisdom of age is a wonderful thing, but in reality, the young do [...]
Why your ethical fund may not be so ethical after all October 9, 2019 The launch of an ethical investment fund used to be a far rarer occasion than it is today. Around 21 ethical funds have been launched in the UK already this year, according to exclusive figures given to City A.M. by research house FE. Compare this to 2014, when just seven ethical funds were launched all [...]
Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
Norway’s sovereign wealth fund says it must prepare for ‘large fluctuations’ in its value October 8, 2019 Norway’s $1.1 trillion (£8.99bn) sovereign wealth fund must be prepared for “large fluctuations” in the value of its portfolio, its managers said. The world’s largest sovereign wealth fund will also consider investing in companies before they go public, said Norges Bank Investment Management (NBIM) in a report outlining the fund’s strategy for the next three [...]
Nutmeg widens losses as wealth manager targets new customers October 6, 2019 Nutmeg, the online wealth management firm, widened its losses by more than £6m last year as it invested in attracting new customers. Operating losses deepened from £12.3m to £18.6m despite an increase in turnover from £4.6m to £7.2m, as expenses expanded to £22.7m from £17m the previous year. Read more: Digital wealth manager Nutmeg targets [...]
RC Brown buys IP Group shares as Woodford offloads stake October 4, 2019 RC Brown has bought up shares being offloaded by Neil Woodford as the fund manager struggles with the crisis that has swept across his investment management firm. RC Brown’s MFM Primary Opportunities fund has purchased shares in intellectual property firm IP Group after Woodford shed his 20 per cent stake last month. Read more: Woodford [...]
UK fund outflows accelerate as cautious investors snub equities October 3, 2019 Savers took almost £1.7bn out of UK funds during August as continued political uncertainty dampened their appetite for risk. The new figures, published today by the Investment Association (IA) are the highest net outflows the sector has experienced since November last year. Read more: Notion Capital opens £125m fourth fund Equity funds took the biggest [...]