SPORT | IN BRIEF November 2, 2011 Correction In Wednesday’s edition we wrongly reported that Chelsea had condoned chants directed at Anton Ferdinand during the 1-1 draw against Genk. The club had, of course, condemned them. We apologise for the error. Beckham wants England recall FOOTBALL: Former captain David Beckham wants an England return, despite having not won a cap in two years. [...]
Standard Life sales leap but miss forecast November 2, 2011 PENSIONS specialist Standard Life managed to protect its assets from the slump in financial markets since July but said yesterday that inflows of capital and sales had missed expectations in the past nine months. New business sales increased by ten per cent to £15.5bn, below expectations for a 13-15 per cent gain, as Standard Life [...]
IS THE SALES MISS A PROBLEM FOR STANDARD LIFE? November 2, 2011 BARRIE CORNES | PANMURE GDN The figures are solid if not spectacular. Long term savings net inflows were slightly disappointing with life and pension net inflows at £3,280m, some 16 per cent below consensus. In the UK it is well placed ahead of the introduction of the RDR and pension reform, but is trading on [...]
Groupon could raise float price November 2, 2011 ONLINE vouchers firm Groupon could price shares in its initial public offering $1 or $2 above the current range of $16 to $18 per share, according to two investors who said they spoke with the lead underwriters yesterday. Groupon is on file with the Securities and Exchange Commission to sell 30m shares in the IPO, [...]
Cattles accuses PwC over audit November 2, 2011 FINANCIAL services group PwC is facing accusations from sub-prime lender Cattles, it emerged yesterday. Cattles, which was sold to its creditors this year, has claimed in a court hearing that PwC’s audits of the firm between 2005 and 2007 led to a “gross misstatement” of the firm’s financial position. Cattles made some £850m of unanticipated [...]
MF Global regulators try to locate funds shortfall November 2, 2011 MF Global is trying to account for hundreds of millions of dollars in client accounts, a US official said. CME Group, one of its regulators, said it looked as if a transfer of customer-segregated funds took place after a CME audit last week. “It appears that any transfer of such funds occurred following the completion [...]
FUND MANAGERS KEEP PARTY ASSETS SOUND November 2, 2011 THE Society of Pension Consultants’ party at the Dorchester was no doubt a wild affair. But last night belonged to the Investment Management Association, which drew 1,200 fund managers to its annual dinner at the Grosvenor House hotel. “No matter how glittering the alternative occasion, everyone is happy to give it up to come here,” [...]
Henderson feels pain of market slump November 2, 2011 VOLATILE markets took their toll on fund manager Henderson over the past quarter, it said yesterday, as nervy investors withdrew funds and falling markets reduced the value of its investments. Henderson, which bought its rival Gartmore in January, said investors took a net £1.9bn out of its funds in the three months to the end [...]
St James’s Place wins new business despite turbulence November 2, 2011 ASSET manager St James’s Place booked a 13 per cent rise in new business to £153.9m in its fiscal third quarter to the end of September, beating analyst expectations despite turbulent markets. Net inflows rose by £100m to £800m year on year while funds under management dropped eight per cent over the quarter to £26.7bn, [...]
Arbuthnot’s £102m Secure Trust Bank starts life on junior market November 2, 2011 SECURE Trust Bank, the retail banking arm of Arbuthnot Banking Group, started life as an independent entity yesterday after floating successfully on the alternative investment market of the London Stock Exchange. The float, which at 720p per share valued Secure Trust at £102m, raised £25m, with Secure Trust gaining £12m to plough into growing the [...]
