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 [...]
Exclusive: Digital wealth manager Nutmeg customers surge past 100,000 November 10, 2020 Digital wealth manager Nutmeg has enjoyed a coronavirus boost and now boasts more than 100,000 customers after investors shifted online amid the pandemic. The robo-adviser saw a 33 per cent increase year-on-year in its customer numbers to pass the 100,000 milestone, with assets under management (AUM) peaking at £2.3bn. In the six months to June [...]
Crispin Odey steps down from asset management firm November 4, 2020 Crispin Odey has stepped down from the helm of his London-based hedge fund firm in order to focus on managing his own funds, the company said last night. Odey, one of the UK’s best-known hedge fund managers and political donors, will step down from the role of co-chief executive after almost three decades at the [...]
Blackrock backs calls for convergence of investment reporting standards October 29, 2020 Blackrock, the world’s biggest asset manager, has called for a clear set of reporting standards for sustainable investments to tackle a ‘lack of clarity’. There has been a significant uptick in interest in sustainable investments in recent years. Figures from the Investment Association showed what it termed responsible investment funds under management in the UK [...]
Government issues sustainable finance standards for fund managers October 28, 2020 The UK has issued a set of standards for asset managers within the sustainable investment sector as it shores up its green credentials. Interest in environmental, social and governance-related investing has taken centre stage in recent years. Inflows into active ESG funds reached a record £392m in September, taking the quarterly total to £1bn, according [...]
St James’s Place net inflows slow amid ‘challenging’ environment October 27, 2020 Wealth manager St James’s Place (STJ) has recorded a rise in funds under management even as the pace of inflows slowed in the third quarter. As at 30 September, total funds under management increased to £118.7bn compared with £112.82bn in 2019. St James’s Place reported net inflows of £1.33bn in three months ended 30 September, [...]
Charles Stanley revenues drop amid ‘difficult times’ October 15, 2020 Investment management firm Charles Stanley (CAY) saw revenue drop in the second quarter while funds under management and administration edged higher. Group revenue fell 6.8 per cent to £39.9m in the second quarter, resulting in a 4.1 per cent reduction over the first half to £82m. Total funds under Management and Administration (Fuma) rose 12.9 [...]
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 [...]