Savers will be offered new government-backed investment bond next year November 23, 2016 Savers will be offered a new government backed investment bond at the next Budget, the chancellor said today. The three-year bond will offer a 2.2 per cent interest rate on deposits of up to £3,000, and will be available through NS&I. It will be open to those aged 16 and over, available for 12 months from spring [...]
“I wish we could find something”: Aberdeen Asset Management pulled out of bidding for Unicredit’s €3.5bn Pioneer fund unit November 21, 2016 Aberdeen Asset Management dropped a bid for Italian bank UniCredit’s Pioneer fund unit because the UK-listed firm could not afford the €3.5bn (£3bn) asking price. The fund manager made it through to the second round of bidding before withdrawing, chief executive Martin Gilbert revealed. Read more: Trading in Unicredit shares suspended as investors digest bank stress [...]
Investor confidence in UK shares falls and “nervousness” is likely to grow around Brexit November 21, 2016 Investor confidence in UK equities fell in November and “nervousness” is likely to grow as Brexit uncertainty continues, according to a Lloyds study. The bank’s Investor Sentiment Index for November found sentiment to UK shares was 11.3 per cent, down 4.5 percentage points on October and 14.9 on November last year. Sentiment towards UK property [...]
That’s far out: UK investment firm launches £80m space tech fund November 21, 2016 A UK investment firm has today launched an £80m space-tech venture fund. Seraphim Capital said the fund, which will focus on early-stage, space-related technology businesses, is the largest of its kind. The company expects to have raised the £80m over the next two quarters, and today announced a £30m investment from the British Business Bank alongside [...]
Asset managers must adapt to serve investors in an age of disruption November 21, 2016 Today's investors and their advisers face a torrent of change from all quarters. Political, economic and regulatory turbulence is matched only by the speed at which technology is transforming business models, choices and decision-making. The low interest rate and low growth environment is creating real challenges for institutional and retail investors. These challenges form the central [...]
Have investors jumped the gun in thinking that the era of low inflation is now over? November 21, 2016 Jason Hollands, managing director at Tilney Bestinvest, says Yes. Deep tax cuts, looser banking regulation, massive spending on infrastructure and the military, alongside higher tariffs on imports and tighter immigration restrictions – Donald Trump’s economic policies are inherently inflationary for the US economy, especially against a background of low unemployment. Global bond markets have reacted [...]
Global investors in UK firms hit by falling dividends and devalued pound November 21, 2016 Global investors in UK equities saw their dividends plummet in the quarter after the EU referendum thanks to the devaluation of sterling. In underlying terms, UK dividends were down 2.9 per cent year-on-year in the third quarter, with mining companies such as Glencore and manufacturing group Rolls-Royce making deep cuts. But while the impact of [...]
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. [...]