The hedgies who sniffed out Wirecard have a new target: the AI bubble January 23, 2024 A hedge fund which looks for companies with 'funny smells' thinks 'AI euphoria' is skewing valuations
Comeback kid: Embattled energy trust seeks to restore London listing after delayed results January 23, 2024 The Asian Energy Impact trust is seeking to restore its London listing after publishing delayed annual and interim results, following months of controversy around the trust. In April, the trust’s shares were suspended after an issue was identified with its 2022 annual results, leading to ‘material uncertainty’ over the fair value of some of its [...]
Abrdn begins cost-cutting push with job losses: Reports January 23, 2024 Asset manager Abrdn is set to cut hundreds of its job as it continues its cost-cutting effort, according to reports.
Plural launches £342m fund to target new ‘tech titans’ January 23, 2024 Venture platform Plural has launched a second fund aiming to raise €400m (£342.6m) for early stage ‘tech titans’. The firm, which began in June 2022, was founded by Wise co-founder Taavet Hinrikus, along with other entrepreneurs such as Songkick founder Ian Hogarth and angel investor Khaled Heloui. Over the last 18 months, the firm’s original [...]
MSCI under fire for ESG ratings ‘biases’ that could cost investors January 22, 2024 A Liberum analyst has hit out at MSCI over its ESG ratings, calling for investors to ignore sustainability ratings from the firm due to “biases” in its ratings methodology that could lose them money. In a Substack blog post this morning, investment strategist Joachim Klement cited a recent paper from Bocconi University that found investors [...]
Retail sales crash 3.2 per cent in December as struggling high street hits Covid-era low January 19, 2024 UK retail sales plummeted 3.2 per cent in December, well below analyst expectations and the largest monthly fall since January 2021 when coronavirus restrictions pushed down sales. Analysts had expected sales to fall by 0.5 per cent in the last month of the year, but a significant drop in both food and non-food store sales [...]
Woodford deal could create ‘systemic risk’ by scrapping investor protections, say academics January 17, 2024 A group of academics have warned that the planned £230m compensation for Woodford investors “would be likely to set a dangerous precedent” by scrapping “cornerstone” protections for investors provided by regulators.
Bowmark Capital: It is a ‘very attractive time to invest in mid-market companies’ as firm raises £900m January 17, 2024 The latest fund from Bowmark Capital launched with a target of £800m, which was rapidly achieved in October 2023, with total commitments summing about 50 per cent larger than its predecessor.
Liontrust raids GAM staff after failed takeover bid January 17, 2024 GAM head of global equity Mark Hawtin has now been hired by Liontrust itself to begin in May. The manager will also bring his investment team, with David Goodman, Kevin Kruczynski and Pieran Maru all set to join.
City fund managers bleed assets in last quarter of 2023 January 17, 2024 Liontrust Asset Management, Rathbones and Brooks Macdonald all suffered outflows over the fourth quarter of the year, the firms revealed in stock exchange notices today.
