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’ [...]
Market gains in fourth quarter push Charles Stanley’s assets higher April 15, 2021 Charles Stanley has said it is “cautiously optimistic” for the year ahead after a strong performance in the fourth quarter. Total funds under management and administration (FuMA) for the three months ended 31 March rose two per cent to £25.6bn, helped by positive market performance. The London listed firm’s average FuMA over the financial year [...]
Bernoulli’s Prisoner’s Dilemma: applying the scenario to modern markets March 30, 2021 | City Talk In 1738, the Swiss mathematician and physicist Daniel Bernoulli proposed a simple thought experiment: “A rich prisoner who possesses two thousand ducats but needs two thousand ducats more to repurchase his freedom, will place a higher value on a gain of two thousand ducats than does another man with less money than he.” Let’s place [...]
Stuart Rose backs challenger money manager Netwealth in £11m funding round March 29, 2021 Netwealth, the money manager backed by a string of leading City figures, has secured its fourth round of fundraising with total investment reaching £38m. The self-proclaimed challenger wealth manager has completed a £11.3m round which included a cash injection from former M&S boss Stuart Rose. ICAP founder Michael Spencer who previously invested £5m in 2019 [...]
Exclusive: City fund managers on pandemic volatility, inflation and value vs growth March 24, 2021 It has been a surreal year for fund managers in the City, with unprecedented volatility descending on practically every investment vehicle, asset manager or investor operating out of the Square Mile. The unpredictability of the ongoing pandemic is one of the reasons why the age-old investment-driven debate about ‘cheap’ value stocks versus ‘expensive’ growth equities [...]
Asset managers keep pension trustees in the dark on holding companies to account March 15, 2021 The trustees of the UK’s pension pots are being kept in the dark by asset managers on how they oversee their investments, according to new research. Most asset managers were unable to provide details of how they exercised their voting rights or engaged with the companies they invest in, according to a survey by pension [...]
ESG demand pushes Gresham House assets higher March 11, 2021 Gresham House has reported stellar growth over the past year as interest in ESG pushed its assets under management higher. The asset manager reported a 42 per cent rise in AUM to £4bn over the year with organic growth of £1bn across housing, forestry and sustainable infrastructure. It was largely driven by £437m of positive [...]