Despite 2018’s woes, could the year of the pig be a sign of good fortune for Chinese equities? February 5, 2019 Chinese stock markets were dogged with problems last year – pretty fitting given that it was the year of the dog. The country grappled with slower growth, a mountain of debt, and a trade war with the US, creating a tough environment for Chinese equities. The MSCI China index slumped by 14 per cent in [...]
Asset management firms face overhaul of fund disclosure after FCA publishes market study February 4, 2019 Asset management firms must provide greater clarity for investors to make more informed decisions, the UK’s financial regulator has said. The Financial Conduct Authority (FCA) said today that managers must make fund objectives and investment policy descriptions more useful to investors, and explain how and why funds use particular benchmarks. Read more: A quarter of high [...]
Investor groups back Shaftesbury board ahead of shareholder showdown February 3, 2019 West End landlord Shaftesbury has secured the support of two major investor groups as it braces for a showdown with shareholder Sammy Tak Lee at its annual general meeting this week. Hong Kong billionaire Lee, who owns 26 per cent of the property group, last week called on investors to vote against three resolutions allowing [...]
London listings in slowest start since 2010 as Brexit worries dampen market January 30, 2019 London’s IPO market has got off to its slowest start since the financial crisis this year as the looming Brexit date dents investor confidence. London Stock Exchange (LSE) data, shows that in the year to 29 January just £680,000 has been raised in London initial public offerings (IPOs). By 29 January 2018 £40m had been [...]
JP Morgan Asset Management given green light to sell funds in China January 29, 2019 JP Morgan Asset Management (JPMAM) has had two funds approved for sale in China. The funds – the Asia Equity Dividend Fund and the Global Bond Fund – will be distributed through JPMAM’s joint venture partner China International Fund Management after the China Securities Regulatory Committee gave the US company the green light. The funds [...]
MJ Hudson launches Milan office to strengthen EU business January 29, 2019 MJ Hudson has opened an office in Milan as the asset management consultancy strengthens its European presence and targets further expansion. The firm launched a fund management solutions team in Luxembourg in 2017 to act as a gateway to Europe after the UK leaves the EU in March this year. Read more: 60 per cent of asset [...]
Changing industry, changing skill-set January 25, 2019 | City Talk In the 1990s, the skill-set required by asset management professionals was vastly different. The investment universe consisted primarily of equities and bonds. Alternative asset classes like hedge funds and private equity were accessible only to high net worth individuals and some particularly sophisticated pension funds. Balanced managers were hired to outperform benchmarks, not produce outcomes. [...]
Patisserie Valerie shareholders consider legal action after company collapses January 23, 2019 Patisserie Valerie shareholders are planning to take legal action against the company after the high street chain collapsed into administration last night. Fundamental Asset Management co-founder Chris Boxhall told City A.M. that there is an “appetite” for action among investors after Patisserie Valerie chairman Luke Johnson failed to secure a cash lifeline from banks yesterday [...]
Number of funds generating top returns plunges in torrid investment environment January 22, 2019 The number of funds generating top returns plunged in the fourth quarter during a torrid investment environment. Only six of the 1108 funds analysed achieved consistent top quartile returns in the fourth quarter of last year, representing 0.54 per cent, down from 19 funds in the previous quarter, according to BMO Global Asset Management. Read [...]
Lloyds prepares for Brexit with Berlin banking licence January 18, 2019 Lloyds Banking Group has secured a banking license for its Berlin subsidiary as the Brexit deadline date approaches. The lender has previously run the office on a standard passporting licence, however all British banks with customers in the EU could lose the licence after March 29 therefore Lloyds is seeking further regulatory approval, Reuters reported. [...]