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 [...]
Former NBA owner invests in $100m women’s football multi-club group December 18, 2024 The move will see World Cup and Olympic gold winning former US women’s international Lauren Holiday join the board of Mercury/13.
How Abrdn became the most shorted company in the UK December 3, 2024 Abrdn is now the most shorted company in the UK, as the Edinburgh-based asset manager has struggled to convince the market it has staying power in the industry. The FTSE 250 fundhouse has been a perennial member of the most shorted stocks for a while, but has succeeded in taking the top spot thanks to [...]
Renewi: Share price rockets on £700m Macquarie takeover offer November 28, 2024 Australian asset management giant Macquarie has made an offer to buy FTSE 250 waste disposal company Renewi for $887m (£701m). In a stock exchange notice, Renewi said the two firms had “reached preliminary agreement on the financial terms of a potential acquisition”, with the board recommending the price to investors, if a firm offer under [...]
Ninety One: Profit sags as investors continue to pull funds November 20, 2024 Investors pulled £5.3bn from asset manager Ninety One over the last six months, although a strong investment performance helped offset outflows. In the group’s half-year results, the Anglo-South African financial firm revealed that while outflows had hit growth, overall assets under management had risen one per cent to £127.4bn in the six months to 30 [...]
Abrdn shakes up top team in turnaround push November 19, 2024 Abrdn’s new chief executive Jason Windsor has revamped his leadership team today as part of efforts to breathe life into the beleaguered asset manager after years of sluggish performance. In an statement today, the vowel-stripped FTSE 250 investment house revealed it had promoted its client head, Xavier Meyer, to chief of investments, and Richard Wilson, [...]