M&G slumps to loss as outflows accelerate March 19, 2025 M&G has reported a jump in outflows for 2024. The insurer and asset manager reported outflows of £9.5bn throughout 2024, compared to £4.7bn in 2023, it revealed in its annual results. Outflows were recorded from every arm of the firm. Its traditional Life business was hit hardest, with outflows of £4.8bn during the year. Meanwhile, [...]
Legal & General: FTSE 100 giant hikes shareholder returns after strong year March 12, 2025 Asset management and insurance giant Legal & General has reported a six per cent increase in core operating profit for 2024. Core operating profit hit £1.6bn and pre-tax profit under IFRS accounting standards stood at £542m. Off the back of these robust numbers Legal & General announced a £500m share buyback for 2025, as part [...]
Quilter hikes dividend as ongoing advice review drags on March 5, 2025 Asset management firm Quilter has reported a 17 per cent rise in adjusted profit to £196m for 2024, alongside a two-percentage-point improvement in its operating margin to 29 per cent. The wealth management firm, which provides advice and investment solutions across the high net worth and affluent market segments, recorded net inflows of £4.8bn. This [...]
St James’s Place swings to annual profit February 27, 2025 St James’s Place swung to a profit in its annual results as the firm’s turnaround efforts continued to yield results. Britain’s largest wealth manager recorded a £398.4m pre-tax profit, compared to the loss of £9.9m the year prior. Gross inflows for the year totalled £18.4bn, compared to £15.4bn in 2023. Total assets under management at [...]
Ashmore: Emerging markets giant stock jumps after beating expectations February 7, 2025 Emerging markets specialist Ashmore has once again beaten expectations despite recording yet more outflows, leading its stock price to rise 1.6 per cent. The FTSE 250 money manager’s half-year results revealed adjusted operating profit totalled £33.7m over the last six months of 2024, compared to the £31m forecast by analysts. Assets under management stood at $48.8bn (£39.2bn) [...]
Wonks think a wave of asset management mergers is inevitable January 22, 2025 Across the European continent, a surge of mergers and acquisitions among asset managers has begun. Yesterday, Italian and French giants Generali and Natixis agreed to a €1.9 trillion (£1.61 trillion) merger to create the second largest asset manager in Europe. Meanwhile, BNP Paribas recently bought out AXA’s investment arm, and rumours continue to swirl about [...]
Abrdn: Scottish asset manager makes turnaround on flows January 21, 2025 Abrdn has reported “significant progress” on managing to keep hold of investor cash, as the Scottish asset manager continues on its cost cutting plan. The firm received £2.3bn into its institutional and retail wealth arm over the last quarter, pushing up 2024 to a positive year for new cash, it revealed in a trading update [...]
Brooks Macdonald to move off AIM as firm eyes further growth January 15, 2025 Brooks Macdonald is set to ditch AIM for the London Stock Exchange’s main market as the asset manager looks to enhance its profile and drive growth. In a trading update, the asset manager said that the move would enhance its “corporate profile,” as well as extend the “opportunity to own its ordinary shares to a [...]
Liontrust: Outflows continue for money manager January 15, 2025 Investors have continued to pull cash from asset manager Liontrust. In a trading update published this morning, the firm revealed that investors pulled £1.6bn from its funds in the last three months of the year. The firm revealed that assets under management fell 5.3 per cent to £24.6bn at the end of 2024. Markets had [...]
Exclusive: Brooks Macdonald makes senior layoffs January 15, 2025 Brooks Macdonald has laid off a number of senior staff, including the firm’s global head of distribution, in a bid to save costs, City AM can reveal. The redundancies from the asset manager were described by one former employee as “pretty brutal”, having occurred in the months before Christmas. The layoffs first seem to have [...]