Saudi asset manager Sedco adds £137m of European property to portfolio October 9, 2018 Saudi asset management firm Sedco has invested £137.5m in European property, including two sites in the UK. The firm has acquired a £31.8m 25-acre distribution site in Yorkshire, which is occupied by Eddie Stobart, and a £35.2m office complex in Bracknell, Berkshire, which is currently leased by Vodafone. Read more: Property bosses cull delivery vans in bid to [...]
Investment giant Pimco strengthens municipal bond arm with Gurtin acquisition October 3, 2018 US asset management giant Pimco has bought muni bond investment firm Gurtin, its first acquisition since appointing new chief executive Emmanuel Roman. Gurtin Municipal Bond Management has more than $14bn (£10.78bn) of assets under management and the combined business will manage $38bn in dedicated municipal bond assets. Read more: Pimco hires ex-Blackstone vice chair John Studzinski It is the first [...]
South Korean backers splash out £100m for Microsoft HQ October 1, 2018 Microsoft’s vast HQ campus in Reading has been snapped up by a London-based real estate investor and a Korean asset manager for £100m today. Valesco Group and Seoul-headquartered AIP Asset Management have bought the tech firm’s 245,000 square foot park in the run-up to the arrival of Crossrail’s Elizabeth line, which is set to strengthen [...]
Why broadening your definition of risk might prove beneficial September 24, 2018 | City Talk Risk. Many financial commentators and industry professionals agree it is one of the most important considerations for any investor. In our review of financial media, we see near-constant coverage of it—particularly the risk of loss. Commentary often dwells on the potential for current events to drive equity market declines, warning risks lurk. We, too, [...]
Investors wield knife but Ryanair survives shareholder revolt September 20, 2018 Ryanair’s under-fire chair David Bonderman survived a shareholder revolt this morning, as nearly 30 per cent of investors voted against his re-election. Senior Ryanair directors Howard Millar and Kieran McLaughlin were also subject to an investor backlash, with voting approval of 78.5 per cent and 66.8 per cent respectively. Non-executive directors Charlie McCreevy and Declan McKeon also [...]
Investment Association boosts board gender diversity with shake up September 19, 2018 The trade body for UK asset mangers said today that the appointment of four new directors had taken female representation on its board to almost 40 per cent. The Investment Association’s (IA) new directors are Brooks Macdonald chief executive Caroline Connellan, Columbia Threadneedle Investments’ Europe, Middle East and Africa (EMEA) chief executive Michelle Scrimgeour, Newton [...]
First State Investments transfers funds to Dublin ahead of Brexit September 18, 2018 First State Investments will move European Union client assets from the UK to Dublin in preparation for Brexit. The firm, which has 11 offices worldwide including one in The City, will also set up management company operations in the Irish capital next year to continue serving EU investors regardless of the outcome of the Brexit negotiations. Read [...]
Investec shares grow as it plans to demerge asset arm for London listing September 14, 2018 Shares in South African banking group Investec flew up 10 per cent today as it revealed plans to spin off its asset management arm and list it in London. Investec Asset Management (IAM) will be listed on the London Stock Exchange in a demerger Investec believes “simplifies the group”. It will also have an inward [...]
Calls for Brexit deal to protect UK asset management industry September 13, 2018 Analysts have called for the final Brexit deal to protect the asset management industry as it emerged that the value of investments managed in the UK for European clients increased by 30 per cent last year. A total of £3.2 trillion is managed in the UK for overseas clients, of which £1.8 trillion is assets from European [...]
The Mitie short: Hedge funds including Marshall Wace and Old Mutual bet on more share price falls at outsourcing group March 19, 2017 | Sponsored Hedge funds are anticipating further falls in the share price of troubled outsourcing firm Mitie. Marshall Wace, Old Mutual and Henderson Global Investors are among the investors to have disclosed short positions on the company. Read more: Mitie flogs its healthcare business for just £2 Markit data, reported on by the Sunday Times, shows the [...]