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 [...]
The Evening Read: City veteran Gavin Rochussen on closing deals remotely April 29, 2021 In an exclusive interview, City A.M. sits down with Gavin Rochussen, the CEO of St. James’s-based Polar Capital, to talk all things asset management, how the pandemic has changed working practices, navigating acquisitions in lockdown and how culture is so important to success. You told me that Polar Capital is a boutique asset manager, but [...]
Schroders’ assets under management edges up £9 billion in three months to new record April 29, 2021 Assets under management (AUM) at Schroders jumped £9bn in the first three months of the year, up to £672bn in total – a record high for the group. In a previous trading update the asset manager said the rise in AUM showcased “the benefits of active investment management and our ability to deliver a good [...]
Jupiter records outflows of £776m as demand for European equities falls April 20, 2021 Jupiter Fund Management recorded first quarter net outflows of £776m as clients turned their back on UK and European equities. The wealth manager said mutual funds saw total net outflows of £848m due to continued lower demand for European-focused equities. It was partially offset by positive net inflows from fixed income. Shares in Jupiter fell [...]
Blackrock quarterly profit climbs on stimulus and vaccine optimism April 15, 2021 Blackrock has reported a 16 per cent jump in profit in the first quarter driven by record net inflows. The asset manager saw net income rise to $1.2bn in the three months to 31 March, equivalent to $7.77 per share, up from $6.60 a year earlier. It also reported revenue of $4.4bn, beating analysts’ [...]