Asset managers call on index providers to drop controversial weapons firms February 11, 2019 More than 140 asset and wealth management firms have signed an open letter calling on global index providers to remove controversial weapons companies from mainstream benchmarks. Companies including Man Group, Credit Suisse and Pictet Asset Management are among those to sign up to the initiative calling for a boycott of manufacturers of weapons such as [...]
Three themes for 2019 – and some black swans February 8, 2019 | City Talk 2018 was a challenging year for investors with US equity and government bond markets both returning less than cash. Two factors were instrumental in delivering this outcome: disappointment with global growth and less cash flowing through the global economy (tighter liquidity). These factors will continue to influence markets in the year ahead. We have identified [...]
UK’s assets under management growth to outperform US and EU over next seven years February 6, 2019 The UK asset management industry is expected to outperform both Europe and the US over the next seven years despite Brexit, new research shows. Assets under management in the UK are forecast to grow 22 per cent by 2025, according to a survey by Bloomberg Intelligence and Simmons & Simmons. Read more: Janus Henderson Group's assets [...]
The yield curve explained: is it predicting recession? February 6, 2019 | City Talk The yield curve has been a reliable predictor of US recessions over the last four decades. Each time the yield curve has inverted, the US economy has entered a downturn within 18 months. At the start of 2019, the curve is precipitously close to inverting again. The yield curve is the difference between the interest [...]
FCA fines former Newton fund manager Paul Stephany for IPO misconduct February 5, 2019 Former fund manager Paul Stephany has been fined by the UK’s financial watchdog for misconduct related to On the Beach’s initial public offering (IPO) in 2015. The Financial Conduct Authority (FCA) has fined Stephany, a former employee of Newton Investment Management, £32,200 after it was found that he had contacted rival fund managers to influence [...]
Janus Henderson Group’s assets under management fall in volatile market February 5, 2019 Assets under management (AUM) at Janus Henderson Group plummeted $50bn (£38.43bn) last quarter amid volatile markets. The company, which was formed through the 2017 merger of Henderson Group and Janus Capital Group, saw AUM fall 13 per cent from $378.1bn to $328.5bn in the three months to the end of December. Read more: Blackrock assets [...]
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 [...]