By: Elliot Gulliver-Needham

Investment Reporter Elliot is the investment reporter at City AM. Previously, he was a senior reporter at Investment Week and a reporter at Central Banking.

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Liontrust starts search for new chair following GAM fiasco

January 25, 2024

Liontrust has begun to search for a new chair following its failure to purchase Swiss asset manager GAM last year. Alastair Barbour, who has sat on the firm’s board for 13 years and has been chair of the asset manager since September 2019, is set to be replaced. Sky News reported that Liontrust had been [...]
ESG Backlash: Investors are pulling more cash from sustainable funds than they’re putting in

January 25, 2024

Sustainable funds saw their first net redemptions ever in the last quarter of 2023, according to a report from Morningstar, as further questions are asked over the value of ‘ESG’. Environmental, social and governance- focused funds experienced $2.5bn (£1.96bn) of outflows, as US investors pulled a record $5bn from sustainable funds, while European investors still [...]
Lloyds Bank private equity arm exits London-based tech firm

January 25, 2024

Lloyds Bank’s private equity arm LDC has exited its investment in London-based cloud and digital services provider Kerv after three years in the firm. As part of the transaction, Bridgepoint Development Capital has invested in Kerv for a majority shareholding and LDC has reinvested £30m to support the continued growth of the business. Within the [...]
IG Group shares down: ‘Unexciting markets’ cause 21 per cent profit drop

January 25, 2024

IG Group experienced a 21 per cent drop in adjusted profits before tax in the second half of 2023, which acting CEO Charlie Rozes credited to “unexciting markets” for its clients. The group’s share price fell 9.5 per cent on open this morning, before recovering slightly. Speaking to City A.M, Rozes said that he thought [...]
St James’s Place brings in £5.1bn of new money as funds swell by £20bn

January 25, 2024

This growth largely came from its pensions arm, which swelled by over £6bn in the final quarter of the year, compared to £1.6bn in its investment arm and £1bn in its discretionary fund management wing.
Private equity dealmaking slumped 20 per cent as UK financial services bucked trend

January 24, 2024

Throughout the entire market, it reported that deals had fallen even more significantly, dropping from 1,802 in 2022 to 1,451.
‘Size does matter’: JP Morgan set to merge trusts as they’re too small

January 24, 2024

JP Morgan Asset Management is set to merge its the Multi-Asset Growth & Income trust (MATE) into its Global Growth & Income trust (JGGI), due to MATE’s small size. In a stock exchange notice today, the two trusts said MATE would be folded into JGGI, creating the largest investment trust in the global equity income [...]
Abrdn confirms 500 jobs to be cut as part of £150m saving plan

January 24, 2024

Abrdn is set to cut 500 jobs as part of a new £150m profit saving programme, as the firm suffered £12.4bn in outflows in the second half of last year, it revealed in a trading statement today.
Quilter: Asset manager bucks industry trends with positive net flows

January 24, 2024

Quilter has bucked the trend of sustained outflows experienced by other asset managers in recent months, gaining £56m in inflows in the last quarter of 2023. In a trading statement today, the firm reported that its assets under management and administration increased five per cent between September and the end of the year, to £106.7bn. [...]
Corporation: London still number one financial centre in the world despite listings pain

January 24, 2024

London has kept its place as the top global financial centre in the world, according to a new report from the City of London Corporation, despite widespread concern over the state of the capital's equity markets.

Government to hand £500m to sports events, athletics Worlds may miss out

Government to hand £500m to sports events, athletics Worlds may miss out

Lunchtime tourism: The wonder that is St Stephen Walbrook

By: Elliot Gulliver-Needham

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