Private equity body names industry veteran as new chairman September 7, 2016 LPEQ, a trade body for listed private equity firms, has named industry veteran Mark Florman as its new chairman. The former chief executive of the British Private Equity and Venture Capital Association (BVCA) started in his role this week. Read more: UK private equity firm makes Star investment in German IT company Florman told City [...]
How the Brexit vote is scaring investors away from traditional asset classes September 7, 2016 The UK’s Brexit vote is putting investors off traditional asset classes, new research suggests. Some 13 per cent of active investors said they have steered clear of currency markets since the EU referendum, while 10 per cent have pulled away from government bonds and nine per cent have been discouraged from investing in equities. Read [...]
Omnis benefits from Woodford’s expertise and attracts large inflows in 2016 September 7, 2016 While some retail funds struggle to stem the tide of outflows, Omnis has bucked the trend thanks to investment icon Neil Woodford. Omnis’ UK equity fund, which is managed by the former Invesco Perpetual grandee, attracted more than £100m in its first six months having launched in March 2016. “The partnership with Woodford Investment Management is [...]
Hargreaves Lansdown chief prepares to depart as firm reports Brexit boost September 7, 2016 Market volatility driven by the EU referendum helped boost trading volume for Hargreaves Lansdown during the year to 30 June, the broker said today as it unveiled a bumper set of results. Separately, the company announced this morning that chief executive Ian Gorham will step down no later than 30 September next year. Chief financial officer [...]
From auto-bid tools to cross-border transactions, here’s what you should expect from the alt fi sector September 7, 2016 The European alternative finance sector grew by 92 per cent to €5.4bn (£4.5bn) in 2015, according to Judge Business School’s latest report on the subject, Sustaining Momentum. Excluding the UK, that’s 10 per cent slower than in 2014, but shows, say the report’s authors, expansion across almost all alternative finance models. This slowing growth rate is [...]
Emerging markets fund specialist Ashmore’s share price edges up after firm beats profit expectations September 6, 2016 Ashmore Group’s share price rose by one per cent yesterday after the emerging markets fund specialist beat profit expectations in its full-year results. The figures Assets under management (AUM) of $52.6bn (£39.4bn) were down from $58.9bn in the year ending 30 June 2015. Ashmore’s net revenue for the period came in at £232.5m, down 18 per cent. Read [...]
Gold and silver demand hit a four-year high in August as Brexit uncertainty took its toll September 6, 2016 Don't buy gold: it turns out everyone else is already all over it, after new figures suggested demand for the yellow metal has reached a four-year high in the aftermath of the Brexit vote. Figures published by BullionVault today suggested demand for gold from private investors in August was at its strongest since December 2012. Read [...]
Delaying the inevitable: How long can central banks extend the credit cycle? September 5, 2016 Calling the end of the current credit cycle is becoming an increasingly popular sport among seasoned market-watchers. While there is division over exactly when it will conclude, the consensus is it will be soon. Last week, Deutsche Bank analysts came to the conclusion that they were “not quite ready to call the end of the [...]
Ding, ding: Round 1,182 of Toscafund v Speedy Hire smackdown ahead of meeting September 5, 2016 Activist investor Toscafund has issued yet another statement calling for change at Speedy Hire ahead of a general meeting on Friday. Toscafund, whose chief executive Martin Hughes has earned the nickname Rottweiler in the City, is attempting to oust Speedy’s chairman Jan Astrand and wants David Shearer to be appointed to the board. Influential shareholder [...]
Manny-less Man Group shakes up senior management team under new chief exec September 2, 2016 Hedge fund Man Group has announced a management shake-up after chief executive Manny Roman was poached by Pimco. Roman has been replaced as chief executive by Luke Ellis, who was previously president of the firm and started in his new role yesterday. As part of the shake-up, Jonathan Sorrell’s role of president will be expanded – taking [...]