Insurance giant Aviva sells Friends Provident for £340m to International Financial Group subsidiary July 19, 2018 Insurance giant Aviva will sell its loss-making Friends Provident arm to International Financial Group for £340m, the firm announced this morning. The sale follows a strategic review of Friends Provident International Limited (FPIL), which made a post-tax loss of £2m last year and remitted no cash back to the parent company, Aviva said. The sale [...]
Lloyds loses mortgage market share as HSBC and RBS rise July 18, 2018 Lloyds lost market share in UK mortgages last year as Royal Bank of Scotland (RBS), HSBC and a host of challengers gained, according to new data published today. Competitors to Lloyds bit off almost one per cent of their market share, which fell from 22.1 per cent to 21.2 per cent of mortgage balances outstanding [...]
June’s most widely bought and sold funds on Charles Stanley Direct July 4, 2018 Artemis Global Income remained a popular choice for exposure to high yielding global stocks among Charles Stanley Direct customers in June, while Fundsmith Equity was the most widely-purchased global equity fund, beating another regular favourite Lindsell Train Global Equity. In the Asia ex-Japan sector Invesco Perpetual Asian outstripped the perennially popularStewart Asia Pacific Leaders in [...]
A sovereign wealth fund could diffuse the UK’s debt timebomb June 13, 2018 There’s a hint of sunshine peeping out from behind the grey clouds of austerity. After eight long years of belt-tightening, we’re living within our means at last. Our taxes cover our day-to-day spending on things like health, education, policing and defence, so we’re only having to borrow to invest in long-term infrastructure like roads and [...]
May’s most widely bought and sold funds June 8, 2018 Artemis Global Income remained a popular choice for exposure to high yielding global stocks among Charles Stanley Direct customers in May, while Fundsmith Equity was the most widely-purchased global equity fund, beating another regular favourite Lindsell Train Global Equity. In the Asia ex-Japan sector Invesco Perpetual Asian outstripped the perennially popularStewart Asia Pacific Leaders in [...]
Online wealth manager Moneyfarm raises £40m in round led by Allianz as FCA scrutiny fails to deter investment in robo-advice May 29, 2018 Digital wealth manager Moneyfarm has today grabbed £40m in a funding round led by the asset management arm of insurance giant Allianz. The funding round – which saw contributions from new parties Endeavor Catalyst and Italy's Fondazione di Sardegna, as well as existing investors United Ventures and Cabot Square Capital – is the largest to [...]
Online wealth manager Moneyfarm raises £40m in round led by Allianz as FCA scrutiny fails to deter investment in robo-advice May 29, 2018 Digital wealth manager Moneyfarm has today grabbed £40m in a funding round led by the asset management arm of insurance giant Allianz. The funding round – which saw contributions from new parties Endeavor Catalyst and Italy’s Fondazione di Sardegna, as well as existing investors United Ventures and Cabot Square Capital – is the largest to [...]
M&S passes on £1.4bn of its pension liabilities to Aviva and Phoenix May 17, 2018 Nearly £1.4bn of Marks & Spencer’s pension liabilities were today passed to insurers Aviva and Phoenix. It follows a trend of organisations including National Grid, Pearson and Smith Group transferring pensions calculated on worker’s final salaries over to insurers. Read more: Zurich completes deal to cover £2bn of National Grid pension liabilities Around £925m will [...]
Persimmon is under pressure on paying the “real living wage” at today’s AGM amid wider shareholder revolt on executive pay April 25, 2018 Major investors with £23bn under management are today set to pile the pressure on housebuilder Persimmon to pay its employees the “real living wage”. At Persimmon’s annual general meeting, the company will be presented with a petition calling for it to accredit with the Living Wage Foundation, a campaigning group supported by the likes of [...]
Blackrock boss Larry Fink’s pay rises to $28m April 16, 2018 The pay packet of Larry Fink, chief executive of Blackrock, rose to $28m during 2017, according to a proxy statement issued by the firm. Fink, the founder and chief executive of the world’s largest asset manager, enjoyed a 10 per cent increase in total annual compensation compared to the previous year. As well as a [...]