Henderson hands international property unit to Aviva Investors July 7, 2010 FUND management group Henderson has transferred its international property fund over to Aviva Investors following a strategic review of the fund’s prospects. The international property fund, which faltered under previous owner New Star as redemptions ballooned in the credit crisis, was only re-opened to daily dealing in February after a closed period of over a [...]
Aviva agree £20m rugby deal July 7, 2010 AVIVA have agreed a £20m deal to become the new sponsors of Premiership rugby. The insurance giants penned a four-year deal to replace Guinness as the top-flight’s title sponsors, starting immediately. Premiership chiefs confirmed that both parties have agreed to make “significant investment in community programmes” as part of the deal. “This is a fantastic [...]
FUND MANAGEMENT NEWS July 6, 2010 SANLAM LAUNCHES AFRICAN FUND Sanlam Investment Management have launched a Ucits African Frontier Markets Fund. The minimum investment stands at £1,000, with a performance fee of 20 per cent and management fee of 1.75 per cent. The fund, managed by Eric Kibe, exploits African equities’ low correlation with mainstream global equity markets by investing in [...]
Ohuruogu: I may miss Euros July 5, 2010 OLYMPIC champion Christine Ohuruogu has told City.A.M she is likely to miss next month’s European Championships in Barcelona. Ohuruogu, 26, was absent from the 400m startline at last weekend’s Aviva UK Championships in Birmingham after picking up an untimely quadricep muscle injury in training. She was initially upbeat about the prognosis but further medical tests [...]
Aviva aims for clarity with its £8bn forecast July 1, 2010 INSURANCE firm Aviva will tell investors today it expects to boost the amount of capital it generates by at least 30 per cent this year to £1.3bn. The firm will also say its existing book will return £8bn in the next five years, in an effort to clarify its money-making potential to investors. Aviva is [...]
INSURERS STRAP IN FOR BLUNT’S MILE-HIGH RECORD-BREAKING GIG June 30, 2010 EVER wanted to watch James Blunt sing his heart out – live – at 42,000 feet? No, neither have we, but let’s not diminish Royal Sun Alliance’s (RSA) achievement in breaking the Guinness World Record for the world’s highest altitude live music show. The insurance group has kicked off its 300th anniversary celebrations with gusto [...]
CITY MOVES | WHO’S SWITCHING JOBS June 29, 2010 Jones Lang LaSalle The real estate services firm has appointed Jamie Stewart-Liddon as a senior surveyor in its tenant representation team. He will be providing consultancy, acquisition and disposal advice to office occupiers primarily based in the South East of England. Stewart-Liddon worked for a City stock-broking firm before moving into commercial real estate five [...]
Segro finalises APP purchase and sells assets June 22, 2010 INDUSTRIAL landlord Segro completed its purchase of BAA’s 50 per cent stake in the Airport Property Partnership (APP) yesterday, by selling £237m of its own assets to the venture. The sale means the APP portfolio of UK airport real estate has grown to £684m, the biggest investor in the sector. Segro agreed to buy into [...]
City sharpens knife for Pru’s chairman June 20, 2010 SEVERAL institutional shareholders are agitating for the resignation of Prudential chairman Harvey McGrath as pressure grows on the board over the aborted attempt to buy AIA in Asia for $35.5bn (£25bn). Fidelity, Legal & General, Schroders and F&C are understood to be among those demanding a change at the top of the FTSE 100 insurer, which [...]
BEST OF THE BROKERS June 20, 2010 BAYER Citigroup said it believes that Bayer is an attractive “buy”. Citi said that sentiment is going to be set by the Xarelto data and it remains positive on this asset. According to Citi trading appears to have improved in Crop Science, Materials remains robust and the company will benefit from recent currency moves. WILLIAM [...]