Ashmore assets under management near $100bn after strong inflows January 15, 2020 Positive investor sentiment towards emerging markets has helped boost specialist asset manager Ashmore close to the $100bn (£77bn) assets under management (AUM) milestone. In an update to the stock exchange today, Ashmore reported a 7.1 per cent increase in AUM, which jumped $6.5bn in the three months to 31 December to $98.4bn. Read more: Provident [...]
Provident Financial shares climb after credit card business beats expectations January 15, 2020 Shares Provident Financial rose today after the subprime lender said its credit card business, Vanquis Bank, performed “modestly above expectations” in the fourth quarter. Provident Financial led the FTSE 250 index risers on Wednesday, with shares up as much as 5.85 per cent to 446.6p by lunchtime. Read more: Non-Standard Finance abandons offer for Provident [...]
Blackrock: Asset management titan’s quarterly profits jump 40 per cent January 15, 2020 Blackrock has reported a 40.3 per cent rise in quarterly profit and its strongest ever inflows as investors poured more money into the investment titan’s exchange-traded funds (ETFs) amid concerns over slowing global growth. Net income at the world’s largest asset manager jumped to $1.3bn (£999m) in the three months ending 31 December, up from [...]
Bank of England policymaker maintains interest rate cut view January 15, 2020 Bank of England (BoE) policymaker Michael Saunders has said he is sticking to his view that interest rates should be cut because of weaknesses in the UK’s labour market and wider economy. “It probably will be appropriate to maintain an expansionary monetary policy stance and possibly to cut rates further, in order to reduce risks [...]
FTSE 100 subdued ahead of US-China trade deal meeting January 15, 2020 The FTSE 100 has opened almost flat ahead of US President Donald Trump’s meeting with Chinese vice premier Liu He, where the pair are set to sign an initial trade deal. Britain’s blue chip index was sitting 0.08 per cent up in morning trading ahead of the signing on Wednesday. Both US and Asian markets [...]
Firm at centre of mini-bond scandal ‘overstated’ value of holdings January 14, 2020 A firm at the centre of the London Capital & Finance (LCF) scandal was found to have “overvalued” a major asset on its balance sheet by a court today, meaning it was unlikely it could have paid back the money it owed LCF. London Oil & Gas was the biggest recipient of cash from LCF, [...]
Fidelity’s cryptocurrency arm makes first move into Europe January 14, 2020 The cryptocurrency arm of investment giant Fidelity has made its first foray into Europe, striking a partnership with a London-based crypto asset manager. Fidelity Digital Assets will act as a custodian for a bitcoin held by Nickel Digital Asset management, the two companies announced. The partnership is designed to help address the lack of back-office [...]
Blackrock takes tougher stance on climate change after campaigner pressure January 14, 2020 Blackrock has announced it will put environmental sustainability at the core of its investment strategy, following criticism the asset management titan has failed to use its power to combat climate change. The world’s largest asset manager announced a sweeping overhaul in a bid to position itself as a sustainable investment leader, pledging to take steps [...]
What Blackrock’s climate change strategy overhaul actually means January 14, 2020 Blackrock, the world’s largest asset manager, today announced that it will make environmental sustainability the core goal of its investment strategy. The investment titan, which manages $7 trillion (£5.4 trillion), has pledged to overhaul its investment practices and introduce new investment products as part of what founder and chief executive Larry Fink called “a fundamental [...]
Boris Johnson calls on public to crowdfund Big Ben Brexit bongs January 14, 2020 Boris Johnson has urged the public to chip in to a crowdfunding campaign so that Big Ben can ring out to celebrate the UK’s departure from the EU. The Prime Minister called on Brits to “bung a bob for a Big Ben bong” after it emerged that the projected costs of the celebratory chimes had [...]
