Investors in Neil Woodford’s frozen flagship fund get first payout January 28, 2020 Hundreds of thousands of investors trapped in the flagship fund of disgraced stockpicker Neil Woodford are facing steep losses, as details emerge of the first payout since the fund was gated in June. Initial payments of between 46.3p and 58.9p per share will be made to investors, administrator Link Fund Solutions said in an update [...]
Gresham House boosted by strong organic growth as investors look to real assets January 27, 2020 Alternative asset manager Gresham House said it was boosted by strong organic growth in 2019, with assets under management (AUM) rising over 20 per cent despite market volatility. In a trading update issued this morning, Gresham House’s said its AUM reached at least £2.75bn by the end of 2019. Trading and financial performance in the [...]
UK active fund managers suffer bruising 2019 January 26, 2020 UK-domiciled investment funds suffered £17bn net outflows in 2019, with active managers enduring a particularly punishing year amid a series of industry scandals and stiff competition from passive tracker funds. Invesco, Aberdeen Asset Management and M&G topped a ranking of Britain’s worst selling fund houses for the year, according to figures from financial data provider [...]
Liquidity concerns mount as investors pull £1bn from Mark Barnett’s Invesco funds January 22, 2020 Investors pulled at least £1bn from Invesco funds managed by Mark Barnett in the final quarter of 2019 amid mounting concerns over liquidity following the collapse of Neil Woodford’s investment empire. Estimates from financial data provider Morningstar suggest the three funds managed by Barnett — Invesco Income, High Income, and UK Strategic Income — suffered [...]
AFH financial reports strong earnings growth January 20, 2020 AFH Financial has reported strong growth in revenue and funds under management (FUM) following after the financial adviser consolidator completed a string of acquisitions. Revenue at the AIM-listed firm jumped to £74.3m for the year ending 31 October, fuelling an 82 per cent jump in profit after tax, which hit £10.8m. Read More: Ashmore assets [...]
Over 1000 EU financial firms planning to open UK offices after Brexit January 20, 2020 More than 1000 banks, asset managers, payments firms and insurers from the European Union are planning to open offices in post-Brexit Britain so they can continue to serve UK clients. The new offices would help financial firms counter the loss of business as unrestricted two-way access between the UK and EU comes to an end [...]
UK bond chief expresses doubts over green gilts January 20, 2020 The head of the UK’s debt management office (DMO) has questioned the case for issuing “green” government bonds, calling it a “symbolic” step unless investors were willing to pay more for the gilts. Sir Robert Stheeman told the Financial Times the issuing of “green gilts” — government debt where proceeds are spent on environmentally-sustainable projects [...]
Ashmore assets under management near $100bn after strong inflows January 15, 2020 Positive investor sentiment towards emerging markets has helped boost specialist asset manager Ashmore close to the $100bn (£77bn) assets under management (AUM) milestone. In an update to the stock exchange today, Ashmore reported a 7.1 per cent increase in AUM, which jumped $6.5bn in the three months to 31 December to $98.4bn. Read more: Provident [...]
Blackrock takes tougher stance on climate change after campaigner pressure January 14, 2020 Blackrock has announced it will put environmental sustainability at the core of its investment strategy, following criticism the asset management titan has failed to use its power to combat climate change. The world’s largest asset manager announced a sweeping overhaul in a bid to position itself as a sustainable investment leader, pledging to take steps [...]
What Blackrock’s climate change strategy overhaul actually means January 14, 2020 Blackrock, the world’s largest asset manager, today announced that it will make environmental sustainability the core goal of its investment strategy. The investment titan, which manages $7 trillion (£5.4 trillion), has pledged to overhaul its investment practices and introduce new investment products as part of what founder and chief executive Larry Fink called “a fundamental [...]