Portfolios of biggest asset managers ‘misaligned’ with climate targets November 27, 2019 The world’s largest asset managers – responsible for a collective $37 trillion (£29 trillion) – are failing to invest in a manner that supports the goals set out in international targets on climate change, according to research released today. The investment portfolios of the 15 biggest asset managers are “misaligned” with the goals of the [...]
Profit dips as Polar Capital suffers £448m outflows November 25, 2019 Polar Capital has reported a drop in pre-tax profit following a “challenging” first half, but its assets under management (AUM) rose despite £448m net outflows. The figures The investment manager said its AUM hit £14.3bn as of 30 September, a 3.6 per cent increase on the £13.8bn it reported at the end of March. Polar [...]
Brooks Macdonald buys Cornelian Asset Managers in £39m deal November 22, 2019 Brooks Macdonald has bought Edinburgh-based wealth manager Cornelian for up to £39m and has this afternoon sealed a £30m share placing to fund the deal. In an update to the stock market this morning, Brooks Macdonald said it would pay an initial £31m for the company – £22m in cash and £9m in shares – [...]
Rivals blast Hargreaves Lansdown for transfer delays in wake of Woodford saga November 22, 2019 Hargreaves Lansdown has come under fire from rivals after it emerged customers are being forced to wait up to three months to transfer their assets to other investment platforms in the wake of the collapse of Neil Woodford’s investment empire. Five of the fund supermarket’s competitors told City A.M. that waiting times for customers transferring [...]
India and the ESG challenge November 19, 2019 | City Talk The year 2019 is setting records and not the kind our planet would have liked. Not only will 2019 be among the hottest years recorded, but July was the hottest month in the 140 years that temperature records have been kept. Climate change is for real, and in India, our challenge is grave. Current and [...]
Extinction Rebellion activists target Blackrock in Amazon deforestation protest November 15, 2019 Extinction Rebellion protesters have targeted the London headquarters of Blackrock, protesting what they described as the role of the world’s largest asset manager in the destruction of the Amazon. Activists from the climate campaigning group dumped wood ash – waste collected from pizza ovens and stoves – in front of the entrance to Blackrock’s offices [...]
Neil Woodford and partner received £20m dividends amid crisis October 28, 2019 Former star stockpicker Neil Woodford and his business partner Craig Newman reportedly raked in dividends close to £20m in the last financial year as the crisis that would lead to the closure of their investment firm escalated. The figure, which covers the year to March 2019, is based on analysis by the Financial Times. Read [...]
Some of world’s biggest asset managers ‘paying lip service’ to ESG October 2, 2019 There is a “significant discrepancy” between the pledges made by the world’s 50 largest asset managers on environmental, social and governance (ESG) and the action managers have actually taken on these issues, new research has found. Although the vast majority of the world’s 50 biggest asset managers – who manage a combined $50.6 trillion (£41.3 [...]
Miton’s assets under management jump despite fund outflows September 23, 2019 Miton Group has reported an increase in assets under management (AGM) for the first half despite slipping back to net outflows, which the asset manager blamed on political uncertainty related to Brexit. The company reported an eight per cent increase in AUM, which were £4.7bn at the end of the first half. Read more: Hargreaves [...]
Some ‘fossil fuel free’ funds have stakes in coal companies, research finds September 19, 2019 Some listed funds marketed as climate-conscious in fact have exposure to fossil fuels, including two explicitly described as “fossil fuel free”, new analysis has found. Think tank Influencemap analysed data from 118 funds marketed with “an explicit climate theme”, with a collective $18bn (£14.4bn) in assets, and found that some had exposure to fossil fuels [...]