Eight things investors need to know about energy storage December 6, 2019 | City Talk With renewable energy growing in importance, effective storage will be vital. And as costs continue to decline, the potential to achieve growth could be huge. Why is the roll out of energy storage so important for achieving the Paris Agreement targets? Decarbonising the electricity supply will require a huge expansion of renewables to replace thermal [...]
Property funds move to reassure investors over M&G contagion fears December 5, 2019 Managers of rival property funds are rushing to reassure investors their investment vehicles will remain open following the suspension of M&G’s £2.5bn property fund on Wednesday. M&G was forced to gate its Property Portfolio after managers did not have enough cash to meet a spike in withdrawal requests, sparking concerns that other property funds could [...]
Mark Wiseman to leave Blackrock after violating relationship policy December 5, 2019 Mark Wiseman, Blackrock’s global head of active equities, is leaving the world’s largest asset manager after failing to disclose a relationship with a colleague. In an internal memo, Wiseman said he had “engaged in a consensual relationship” with a Blackrock colleague in recent months without reporting it as required by company policy. Read more: Extinction [...]
Asset manager Schroders cuts jobs in restructuring drive December 5, 2019 Asset manager Schroders is embarking on a restructuring drive that will place more emphasis on growth areas including private assets and wealth management but will lead to job cuts. The restructuring effort could lead to around 200 job cuts globally, Reuters reported, citing a source familiar with the matter. Read more: AJ Bell fears ‘domino [...]
AJ Bell boss fears ‘domino effect’ after M&G fund suspension December 5, 2019 The suspension of M&G’s £2.5bn property fund risks triggering a “domino effect” in the sector as investors rush to withdraw their money, the head of investment platform AJ Bell has warned. Andy Bell told City A.M. the suspension could be “contagious” for the sector because a “domino effect” could lead to further property fund suspensions. [...]
Equity funds show signs of recovery following record outflows December 5, 2019 Equity funds bounced back to net inflows in October, with the sector showing signs of recovery following a bruising third quarter of record outflows. Investors ploughed £648m into equities in October in a much-needed boost for the funds following £1.7bn outflows the previous month, according to data from the Investment Association (IA). Read more: M&G [...]
What can the financial sector learn from dairy farmers? December 5, 2019 Nobody would travel with an out-of -date passport, so why should the world of finance be any different? And yet, many major institutions are at great risk of acting on outdated information as they navigate through the increasing complexity of modern-day markets. With so much out-of -date information out there, it is imperative to know [...]
How can banks factor in climate change without damaging the economy? December 5, 2019 In a few weeks, we will get the results of the UK bank stress tests, which is a measure of our biggest banks’ ability to withstand the toughest of economic shocks. In 2021, these tests will include a scenario on climate change. The regulator wants to know that our biggest financial institutions really can weather [...]
The right way for your business to deliver bad news December 5, 2019 Every business has to deliver bad news from time to time — whether it is a delay, a data breach, or a price hike. Of course, these can be tricky situations to navigate. It’s easy to sound good when you’re telling people about the wonderful products and services that you offer. It’s much harder when [...]
Why another property fund freeze was inevitable December 5, 2019 Why does it feel like we have been here before? Well, it’s because we have. It wasn’t that long ago when thousands of investors in property funds flocked to the exit door after the referendum, forcing several major asset managers to temporarily block withdrawals. So cue the deja vu when M&G yesterday suspended trading in [...]
