Four ways the City watchdog wants to make fund managers better for investors November 18, 2016 The City watchdog has this morning put forward plans for a shake-up of the £7 trillion asset management industry to ensure investors get a better deal. The Financial Conduct Authority (FCA), publishing the interim findings of its market study, found weak price competition in some areas, a lack of transparency, potential conflicts of interest and sustained profitability [...]
Pension Insurance Corporation will launch a £250m corporate bond to fund a raft of new business November 17, 2016 A wave of Britain's largest firms are planning to offload huge pension liabilities to a key market player. The Pension Insurance Corporation (PIC), a company that specialises in taking pension headaches away from businesses, will today launch a £250m investment bond to fund a bottleneck of deals in late 2016 and early 2017. Sources close to the [...]
The government’s decision to cancel a retail offering of Lloyds shares is an outrage November 16, 2016 Lloyds Banking Group will bring up mixed emotions for the British public. On the one hand, it still represents a symbol of the financial crisis, and the subsequent pain and aftershocks that brought for Britain. On the other, it is a household name, present on our high streets and safely nestled on the FTSE 100. [...]
Online lasting power of attorney numbers are on the up, here are five things you need to know November 16, 2016 Government do-it-yourself kits for lasting powers of attorney have been criticised and called "risky", as new figures reveal public take-up is spiralling. Lasting powers of attorney (LPA) – which transfer the responsibility to make key life choices to another person in the event of mental incapacity – have increased threefold since 2010, according to data released by the government [...]
Speedy Hire shares soar as tool lender hammers expectations – “in spite” of Toscafund activism November 16, 2016 Speedy Hire’s share price shot up 15 per cent this morning after the lender of tools and construction equipment reported increasing revenues and profits – an improvement the company said came “in spite” of a high-profile attack from an activist investor. Group revenue for the six months to 30 September was £187.1m, up 13 per cent [...]
Oversubscribed investment trust and Scottish tech firm announce flotations November 16, 2016 A Scottish technology company floated on the London Stock Exchange this morning and is set to be joined by an oversubscribed new investment trust on Friday. City A.M. first reported that the investment trust, Civitas, which focuses on social housing, was planning to raise £250m through a float on 18 November. The IPO was oversubscribed [...]
Donald Trump and emerging markets: Why you should buy the Mexican peso, government and corporate bonds November 16, 2016 If the performance of the dollar and US equities has defied forecasts since Donald Trump’s election, the impact on other assets, like US Treasuries and emerging market (EM) securities, has been grimly predictable. EM corporate debt had been one of 2016’s best performing asset classes, and funds which invest in these countries attracted $47bn from [...]
FTSE 250 asset manager ICG’s shares jump seven per cent as profits grow November 15, 2016 FTSE 250-listed Intermediate Capital Group’s (ICG) share price soared more than seven per cent this afternoon after the firm reported rising assets under management (AUM). Total AUM were up two per cent to €22bn (£19bn), with €1.4bn of new money raised, while pre-tax profit came in at £126.2m for the six months to 30 September [...]
The behavioural biases that explain why Mr Market is unruffled by Mr Trump November 14, 2016 The world is not short of comment and analysis following the election of Donald Trump as US President. In some ways, the coverage is indicative both of the result’s unexpected nature and its historical significance. It is fascinating, therefore, that an event of such magnitude has created barely a ruffle in stock markets. Step back from [...]
Affordable housing could be about to become an asset class in its own right November 14, 2016 Affordable housing could become an asset class in its own right, new research has suggested. A report published today by management consultancy CIL has suggested that, despite having historically been regarded as a challenging area for the construction industry, affordable housing now represents a significant area of opportunity for the sector and for investors. The [...]