City investment management firm Charles Stanley reports sharp assets drop amid challenging market conditions January 17, 2019 Investment management firm Charles Stanley saw assets under management fall last year due to challenging market conditions. Funds under management and administration were £22.8bn in the three months to the end of December, representing a decrease of 8.8 per cent, the City-headquartered firm announced today. The drop can be blamed on a sharp fall in [...]
Blackrock investigates hoax letter to chief executives over climate change January 16, 2019 Blackrock is investigating a hoax letter published this morning, claiming to be from chief executive Larry Fink, that warned companies that the world’s largest investment firm would divest unless they took action against climate change. The letter, which was posted on a spoof Blackrock website as the company reported its financial results, said the investor [...]
Blackrock assets under management drop five per cent January 16, 2019 Blackrock’s assets under management dropped five per cent last year as the world’s biggest investment manager saw inflows slashed in half. The manager reported AUM of $5.97 trillion at the end of 2018, down from $6.3 trillion in 2017. Read more: Blackrock and Metro Bank on shortlist for new responsible business award In 2018, full-year total [...]
Brexit deal defeat triggers huge uncertainty: what next? January 16, 2019 | City Talk Sterling rose in vote aftermath from €1.115 to €1.128; FTSE 100 fell more than 40 points in early trading In event of no deal, Schroders forecasts 2019 UK recession Market expectations that soft Brexit is now more likely seem premature Azad Zangana, Senior European Economist & Strategist, says: As had been widely expected, parliament has [...]
Shares in asset manager Ashmore fall amid ‘challenging’ emerging markets January 15, 2019 Assets under management at Ashmore Group edged upwards in the three months to 31 December against “challenging markets”, the asset manager said in a trading update today. The emerging markets specialist saw the value of its funds rise $300m (£235.2m) to an estimated $76.7bn. Read more: Top adviser joins firm aiming to ‘open up’ emerging markets The [...]
Aberdeen Standard Investments makes $13m investment in digital insurance company Singapore Life January 15, 2019 Asset management firm Aberdeen Standard Investments (ASI) has announced it will invest $13m (£10.1m) in digital insurance company Singapore Life. The minority equity investment will build on ASI’s existing strategic relationship with the company beyond the management of its fiduciary assets. Singapore Life is the first fully digital insurer in Singapore, and aims to become a [...]
Pret A Manger and Krispy Creme owner Jab Holdings’ chairman Bart Becht announced retirement January 14, 2019 Bart Becht has resigned as chairman of Jab Holdings, which owns businesses including Keurig Dr Pepper and Pret A Manger. The company, which also owns the Douwe Egberts coffee brand and Krispy Kreme Doughnuts, will continue to be run by chief executive Olivier Goudet and senior partner Peter Harf, who will be joined by three new [...]
Investcorp teams up with Coller Capital for $1bn private equity buyout fund January 14, 2019 Investcorp has teamed up with Coller Capital to create a $1bn (£778m) European private equity buyout fund. London-based Coller Capital will use its current fund, Coller International Partners VII, to underwrite the new investment vehicle which will invest in European mid-market companies. Read more: 3i sells debt business as part of strategic focus away from [...]
Hermes Investment Management steps up Dublin presence in no-deal Brexit contingency planning January 14, 2019 Hermes Investment Management has stepped up its presence in Ireland to mitigate against the risks posed by Brexit, the company announced today. The City-headquartered firm has set up an Irish management company, saying its mitigation activities have been based on the presumption of a “hard Brexit” without any transitional arrangements. Read more: 60 per cent [...]
How the FTSE 100 returned 94 per cent without moving January 14, 2019 | City Talk On New Year’s Eve 1999, the FTSE 100 closed at a then-record high of 6930. Few could have envisaged then that, 19 years on, the index would be lower. It stood at 6845 as at 14 December 2018. A negative return for investors over that long a period can be concerning, but it doesn’t tell [...]