Ashmore assets rise as market recovery offsets outflows October 14, 2020 Ashmore’s assets under management rose by nearly $2bn in the first quarter as a recovery in the markets helped to offset net outflows. The money manager, which focuses on emerging markets, said assets under management (AUM) increased by $1.9bn in the period to 30 September, offsetting net outflows of $0.8bn. AUM were estimated at $85.5bn [...]
Regulator fines ARCM for breaches of short-selling rules October 14, 2020 The City regulator has handed its first fine for breaches of short-selling rules to activist hedge fund Asia Research and Capital Management. The Financial Conduct Authority (FCA) today announced it had fined ACRM £873,118 over failing to publicly disclose its net short position in Premier Oil built between February 2017 and July 2019. Short selling [...]
City to shift €150bn of UK assets into France ahead of Brexit October 13, 2020 Firms have begun shifting around €150bn (€135bn) of UK assets from the City into France ahead of the Brexit transition period deadline, according to the governor of the Bank of France. Francois Villeroy de Galhau told the Europlace International Financial Forum that the Bank of France has authorised asset shifts by 32 companies — mostly [...]
The City View: Beyoncé’s former manager on why classic hits are a hot asset class August 18, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian talks to music industry veteran Merck Mercuriadis, a former manager of acts including Elton John and Beyoncé whose FTSE-listed investment firm has just hit a £1bn market cap after snapping up the rights to hits including Livin’ on a Prayer, Back to Black, Uptown Funk, Single Ladies and Don’t Stop Believing. [...]
M&G tables £191m bid in UK Mortgages hostile takeover August 13, 2020 M&G today said it has tabled a bid of roughly £191m for UK Mortgages Limited, marking its final offer in a hostile takeover effort. The asset manager, which is acting on behalf of its M&G Specialty Finance Fund, said it has ramped up its offer by 3p to 70p per share — an increase of [...]
M&G profit crashes as retail investors pull funds August 12, 2020 M&G today posted a sharp fall in first-half profit after retail investors rushed to withdraw funds during the coronavirus crisis and it counted the costs of its demerger. The insurer and asset manager saw its adjusted pre-tax profit slump 59 per cent to £309m in the six months to the end of June, though this [...]
Coronavirus will increase investors’ appetite for sustainable strategies – and accelerate major changes in the way capital is allocated June 2, 2020 | City Talk The relative resilience of ESG strategies through the recent market rout could mark a watershed moment for sustainable investment. Fleeting trends are usually the first to be abandoned in the heart of the storm. This simply hasn’t happened with ESG strategies. In fact, quite the opposite, with many funds charting inflows through Q1 2020. Cynics [...]
Gresham House acquires Trade Risks amid strong 2019 performance March 5, 2020 Gresham House announced the acquisition of Trade Risks as it reported a double digit rise in its assets under management. The figures Gresham House reported a 23 per cent increase in assets under management from £2.3bn to £2.8bn. Total income rose 124 per cent from £14.7m to £32.9m, while adjusted operating profit rose 237 per [...]
Schroders profit falls as investors turn their back on equities March 5, 2020 Schroders posted a four per cent fall in profit before tax as market uncertainty prompted investors to ditch equities. The figures Schroders reported that profit before tax fell four per cent from £649.9m to £624.6m. The asset manager reported total net new business of £43.4bn, with positive net inflows across all asset classes as the [...]
FCA admits seven funds breached ‘trash ratio’ March 4, 2020 The Financial Conduct Authority (FCA) has revealed the extent to which UK fund managers breached European rules designed to limit liquidity issues behind high-profile scandals. Regulators across Europe have scrutinised how closely fund managers adhere to Ucits fund rules that limit holdings in unquoted securities to 10 per cent of their portfolio. Responding to a [...]