EU securities watchdog calls for stricter regulation on greenwashing January 29, 2021 The European Securities and Markets Authority (ESMA) said today EU rules are needed to regulate ratings on the environmental, social and governance (ESG) aspects of companies to avoid investors being deceived by “greenwashing”. Asset managers use ESG ratings to make “green” environmentally conscious investment decisions. Greenwashing refers to inaccurate claims that investments are sustainable and [...]
St James’s Place reports £2.3bn in inflows after ‘extraordinary’ year January 28, 2021 Wealth manager St James’s Place reported £2.3bn of net inflows after an “extraordinary” year which saw its funds under management soar. As of 31 December the firm’s funds under management stood at a record £129.3bn, an 11 per cent increase on the previous year. Despite the pandemic gross inflows of £14.33bn fell just five per [...]
Brewin Dolphin total funds exceed pre-pandemic levels January 27, 2021 Fund manager Brewin Dolphin reported record total funds as market sentiment rebounded off the back of the Brexit deal and vaccine rollout. Total funds increased eight per cent to a record £54.1bn in the first quarter with total inflows of £0.6bn Net inflows stood at £0.1bn in the three months to December. It represents an [...]
Ashmore assets rise 9 per cent but net outflows persist January 15, 2021 Wealth manager Ashmore Group’s (ASHM) assets under management (AUM) rose by $7.5bn in the second quarter as positive market movements helped to offset outflows. The investment manager, which focuses on emerging markets, said total AUM rose 9 per cent to $93bn as at 31 December, after a positive investment performance of $8.1bn. But Ashmore still [...]
Martin Gilbert snaps up stake in ESG boutique run by former colleague January 14, 2021 City veteran Martin Gilbert has bought a stake in his former Aberdeen Asset Management colleague’s ESG boutique, Alquity. Gilbert stood down from Standard Life Aberdeen in March 2019 to join challenger bank Revolut as its chairman, but he has started to move back into the wealth management space. The investor has taken on several board [...]
Carne Group bags €100m investment from London private equity firm January 13, 2021 Irish financial services firm Carne Group has secured funding from a London-based private equity firm that has backed the likes of Darktrace and Just Eat. Carne Group, which is the world’s largest third-party fund management company, announced it had received a €100m investment from Vitruvian Partners. The fresh funding will be used to expand the [...]
Market gains aid Charles Stanley’s pandemic recovery January 13, 2021 Wealth manager Charles Stanley benefited from the strong markets seen at the end of last year, adding more than £2bn to its assets. In a third-quarter trading update, the London-listed firm reported that net inflows had increased just £0.1bn. But market improvements helped drive a more than £2bn growth in its overall assets, to £25.1bn [...]
Rathbones names ex-Phoenix boss Bannister as chairman January 12, 2021 Rathbone Brothers has appointed ex-Phoenix Group CEO Clive Bannister as its new chairman. Bannister will take over from Mark Nicholls at the wealth manager, who will retire from the role at the company’s annual general meeting in May. The news comes as Rathbones reports a nearly 9 per cent jump in total funds under management [...]
Mind the gap: Study shows savers are 94% worse off than investors December 8, 2020 A substantial investment gap has opened up between those who opted to save and those who decided to invest over the last 10 years. According to a survey by online investment platform Charles Stanley Direct, those who save in cash accounts are on average 94 per cent worse off than their counterparts. For example, £10,000 [...]
Charles Stanley profits sink as FUM weighs down revenue November 19, 2020 Wealth manager Charles Stanley reported a 27.5 per cent decline in profit as funds under management dragged revenues lower. The London-listed firm reported revenues fell 4.1 per cent to £81.9m in the first half of the year, reflecting the impact of the pandemic on funds under management and administration (FUMA) and lower interest rates. It [...]