BlackRock smashes profit estimates as assets reach almost $10 trillion July 14, 2021 Blackrock has reported a 14 per cent rise in quarterly profit and a record $9.5tn in assets under management, signalling increased investor confidence in a post-pandemic economic recovery. The asset management giant posted a second quarter profit of $1.378bn (£994m) or $8.92 per share, up from $1.214bn and $7.85 per share a year earlier. Its [...]
Bottom-up ESG: New platform wants to give retail investor army voting power for £1 July 9, 2021 Tulipshare is targeting the next generation of shareholders by tapping into their booming interest in retail investment and demand for a corporate ESG overhaul. The new UK-based activist investment platform wants to enable individuals to “vote with their money” for change from the inside at Amazon, Coca-Cola and Apple by investing as little as £1. [...]
London IPO: LendInvest prices AIM float as it looks to raise £40m July 9, 2021 Property finance asset manager LendInvest will float on the AIM index on Wednesday, with shares priced at 186p
BlackRock raises $250m for climate funds in emerging markets July 8, 2021 BlackRock raised over $250m (£181m) for its climate finance fund to invest in a selection of countries in Asia, Latin America, and Africa, the company announced today. Through its Climate Finance Partnership, the world’s biggest asset manager will focus on investing in renewable power generation, energy storage solutions and electrified transportation services. Blackrock said it aims [...]
Hedge fund Marshall Wace plots investments in cryptocurrency companies July 6, 2021 The London-based hedge fund group is planning to buy stakes in privately held digital asset companies that are at a late stage in their development. Marshall Wace is planning a long term crossover strategy to make late-stage venture capital investments in digital finance companies, a person with knowledge of the plans told City A.M. The [...]
Gresham House completes acquisition of €350m Irish asset manager June 29, 2021 Gresham House has fully acquired Irish fund manager Appian Asset Management in a deal that gives the firm a European presence. The asset manager today announced the completed acquisition of Appian, which manages €350m in assets, following regulatory approval from the Central Bank of Ireland. Gresham House said the acquisition accelerates the firm’s five-year growth [...]
Exclusive: As Aviva sacks its fund managers, how to communicate such changes to shareholders? June 17, 2021 In this 2-part series, City A.M. zooms in on the relationship between investment boards, asset managers and shareholders. In the first instalment, a number of Square Mile-based investment managers discussed why and when investors come to realise the asset managers needs to be replaced, and how such decisions come about. Today, the City insiders debate [...]
Exclusive: When City investors know it’s time to sack the asset manager June 16, 2021 Changing its asset manager gives an investment company the sometimes much-needed opportunity for a new strategy and a fresh start. Last year, eight investment companies in the City changed asset managers, including Baillie Gifford China Growth Trust, Edinburgh Investment Trust and Temple Bar Investment Trust. City A.M. caught up with some of them to find out [...]
Crypto assets: you can doubt, but you can’t hide June 15, 2021 | City Talk It is no longer prudent to ignore the potential of crypto assets. The investment industry can be sceptical about crypto assets. Investors can certainly choose not allocate to them, but few can afford to ignore them. Why? Not just because Bitcoin’s dizzying ascent has captured the popular imagination but the more persuasive reasons why the [...]
Premier Miton assets up 38 per cent as post-merger growth continues May 28, 2021 Premier Miton’s assets under management rose to £12.6bn in the six months ended 31 March, a 38 per cent year-on-year increase. The group also swung to net inflows of £359m during the period, compared to outflows of £389m in 2020. Pre-tax profit rose 17 per cent to £6.2m, while the group proposed an interim dividend [...]