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 [...]
Non-Standard Finance extends deadline for Provident shareholders to accept £1.3bn hostile takeover April 29, 2019 Non-Standard Finance (NSF) has set 15 May as its final closing date to secure its hostile takeover of rival Provident Financial, urging shareholders to back it to break the “status quo”. Read more: Provident lashes out at 'unlawful' NSF payments amid takeover dispute The new date signals a week’s delay to the previous deadline to [...]
UBS beats expectations but investment bank profits plunge 64 per cent April 25, 2019 Swiss banking giant UBS beat expectations but reported a 64 per cent profit fall in its investment bank in a “challenging" quarter. Chief executive Sergio Ermotti had set the bar low after warning of “one of the worst first-quarter environments in history,” earlier this month. Read more: UBS and Deutsche in 'serious' talks over asset [...]
UBS and Deutsche in ‘serious’ talks over asset management merger April 24, 2019 The asset management divisions of Deutsche Bank and UBS are in “serious” talks over a potential merger, according to reports. The combined businesses would have more than €1.4 trillion (£1.2 trillion) of assets under management, overtaking Legal and General in the UK and France’s Axa to create a rival to Amundi, which is Europe’s largest [...]
UK financial services face talent crisis over social mobility and “boring” reputation April 21, 2019 The UK’s financial services sector is facing a talent crisis as would-be employees are put off by its reputation for being “boring”, a new survey has revealed. Research carried out by Big Four auditor KPMG showed 65 per cent of the UK population would not consider taking a job in the financial services sector. Read [...]
Asset management firms urged to increase stewardship efforts April 16, 2019 Asset management firms have been urged to increase the level of engagement and guidance with the firms they invest in. Institutional investors only have “one-hand” on the wheel in regards to stewardship, advisory firm Willis Towers Watson warned in a report published today. Read more: Tatton Asset Management shares plummet as consulting arm under pressure The [...]