Crypto exchange Kraken buys London trading firm in nine-figure deal February 4, 2019 San Francisco-based cryptocurrency exchange Kraken has finalised a deal to buy London trading firm Crypto Facilities. Kraken said it was one of the industry’s largest deals to date, valued at nine-figures. Though Crypto’s 25-strong team will remain in London, they will all become Kraken employees and expand the US firm's commitment to expanding its European [...]
Veteran investor Bill Gross to retire from Janus Henderson Investors next month February 4, 2019 Veteran investor Bill Gross has announced he will retire from Janus Henderson Investors next month. Gross, who founded Pimco in 1971, will step down from his role as portfolio manager of the Global Unconstrained Bond and Total Return strategies on 1 March and his responsibilities will be transferred to the Global Macro Fixed team led by [...]
Asset management firms face overhaul of fund disclosure after FCA publishes market study February 4, 2019 Asset management firms must provide greater clarity for investors to make more informed decisions, the UK’s financial regulator has said. The Financial Conduct Authority (FCA) said today that managers must make fund objectives and investment policy descriptions more useful to investors, and explain how and why funds use particular benchmarks. Read more: A quarter of high [...]
JP Morgan Asset Management given green light to sell funds in China January 29, 2019 JP Morgan Asset Management (JPMAM) has had two funds approved for sale in China. The funds – the Asia Equity Dividend Fund and the Global Bond Fund – will be distributed through JPMAM’s joint venture partner China International Fund Management after the China Securities Regulatory Committee gave the US company the green light. The funds [...]
MJ Hudson launches Milan office to strengthen EU business January 29, 2019 MJ Hudson has opened an office in Milan as the asset management consultancy strengthens its European presence and targets further expansion. The firm launched a fund management solutions team in Luxembourg in 2017 to act as a gateway to Europe after the UK leaves the EU in March this year. Read more: 60 per cent of asset [...]
A quarter of high net worth investors keep 50 per cent of savings in cash rather than invest January 28, 2019 A quarter of high net worth investors hold more than 50 per cent of their wealth in cash as they believe that it is the least risky option, new research has found. A further 35 per cent of those with more than £100,000 in investable assets keep between 26 to 50 per cent of their savings in cash, [...]
Spreadbetter CMC Markets’ revenue hit by regulatory measures January 24, 2019 Spreadbetting firm CMC Markets continued to feel the effects of new regulatory measures at the end of last year, the firm reported today. In its first full quarter trading update since the European securities and markets authority (ESMA) cracked down on CFD trading, CMC said revenue between October and December was down year on year [...]
Wealth manager St James’s Place boosts inflows in 2018 despite market challenges January 24, 2019 Wealth management firm St James’s Place boosted inflows for 2018, it said today, despite difficult market conditions. The figures Full-year gross inflows were £15.7bn, eight per cent up on the previous year, the company said in a trading update. Net inflows were also up eight per cent to £10.3bn. Inflows weakened in November and December and [...]
FCA says UK firms need ‘clarity’ on cryptoassets as it consults on regulation January 23, 2019 The UK financial watchdog has called for further clarity in the regulation of cryptoassets, as it launches a consultation on guidance applicable to the wide sphere of crypto. The Financial Conduct Authority (FCA) said firms will have a better understanding of whether their activities with cryptoassets such as bitcoin are compliant with regulation as a result of [...]
Brewin Dolphin funds under management dip due to market uncertainty January 23, 2019 Brewin Dolphin saw funds fall 7.7 per cent to £39.5 per cent in the first quarter of the financial year driven by market uncertainty, the wealth manager announced today. In a trading update the firm said discretionary funds also fell 7.2 per cent from £37.6bn to £34.9bn due to lower market levels in the three [...]