Norwegian fund KLP bans investments in alcohol and gambling May 28, 2019 Norway’s largest pension fund has pledged to ban investments in alcohol and gambling stocks today as it ramps up efforts to divest from 'vice' stocks. KLP, which controls roughly $80bn (£63bn) in assets under management, is severing its ties with casino groups, brewers and cigarette companies in its latest sustainability drive. Read more: M&G Investments [...]
Hedge funds ramp up bets against Jupiter Fund Management May 22, 2019 Hedge funds have increased their bets against Jupiter Fund Management making it one of the most shorted UK companies. The asset manager’s shorted stock has increased to 10.55 per cent, more than that of struggling firms such as AA and Marks & Spencer, from 7.37 per cent at the beginning of April. Read more: Jupiter assets [...]
Firms must be more open about cyber attacks, says Fidelity International boss May 21, 2019 Companies must put competition aside and take a more collaborative approach to fighting cyber crime, a top asset management boss has said. Fidelity International chief executive Anne Richards urged firms to be more open in sharing information about cyber attacks in a bid to minimise future threats. Read more: Don’t let trust become the next [...]
Are emerging markets ready to fight back? May 21, 2019 You know there’s an underlying problem when investment firms start to cut exposure to a particular asset class. Goldman Sachs’ decision last week to slash exposure to emerging markets is an indication of the current situation for these economies. The bank’s asset management arm said that it had scaled back its “overweight” exposure to emerging [...]
City giant Martin Gilbert reveals which Tory leadership contender he thinks is ‘amazing’ May 20, 2019 City titan Martin Gilbert has talked up environment secretary Michael Gove as the next Conservative leader, dubbing him “amazing”. Gilbert, who co-founded Aberdeen Asset Management in 1983, was full of praise for the Brexit campaigner in an interview with City A.M. on the fringes of the City Week 2019 conference. “I think he’s amazing, I [...]
Four ways passive investing has altered the markets May 14, 2019 Ever since the first exchange-traded fund (ETF) listed in Europe 19 years ago, passive investing has proved hugely popular. ETFs are traded like stocks, and simply track the big indices like the FTSE 100 or the Dow Jones, as opposed to having a fund manager cherry-pick individual companies for you. And with the lowest annual [...]
Provident Financial says hostile bidder Non-Standard Finance is overvalued May 8, 2019 Provident Financial today said it had concerns about the valuation of Non-Standard Finance (NSF) which is trying to take it over. Provident said it had concerns NSF was undercapitalised, it said NSF’s business was facing “significant headwinds”, it said there was an overly positive perspective on NSF’s headline financial performance and said NSF was overvalued [...]
Sacked Gam fund manager Tim Haywood blocked from annual meeting May 8, 2019 Tim Haywood, the star fund manager fired from Gam Investments over allegations of misconduct earlier this year, was barred from entering the company’s annual meeting this morning. The Swiss asset management firm also failed to secure the backing of at least 50 per cent of shareholders at the meeting to discharge the board from legal [...]
Janus Henderson outflows sparks declining profits May 2, 2019 Asset management firm Janus Henderson saw profits decline as outflows continued in the first quarter of 2018. The figures Net income was $94.1m, down 43 per cent from $165.2m in the first quarter of 2018. Read more: Janus Henderson Group's assets under management fall in volatile market Revenue was $519.m, down from $545.1m at the [...]
Don’t get stuck in your ways: How to cut carbon emissions without glueing yourself to buildings April 30, 2019 “You can't eat money” and “climate emergency” read some of the signs wielded by climate change protestors last week, as they glued themselves to the London Stock Exchange. As our planet heats up, so does the debate around global warming. Regardless of whether you agree with the tactics used by the protestors or not, there [...]