Welcome back: Aberdeen Asset Management lifts suspension on property fund July 13, 2016 Aberdeen Asset Management has today lifted the suspension on its property fund, one week after several asset managers put the brakes on their funds. Last week, Aberdeen announced that it would be suspending trades on its Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust to protect the value of the fund for [...]
At the close: Sterling surge holds down the FTSE 100 July 12, 2016 The FTSE 100 closed flat this evening after ending yesterday's session at an 11-month high. The blue-chip index closed at 6,680.69 points, down just two points and flat in percentage terms. The end to yesterday's rally was put down to sterling being on course for its best performance against the yen in over three years after Theresa May [...]
Bank of England was warned over property fund trading suspensions after Brexit July 12, 2016 The Bank of England was warned that property funds could be suspended in the aftermath of a Brexit vote. The Financial Policy Committee (FPC), which is chaired by BoE governor Mark Carney, was briefed by the Financial Conduct Authority (FCA) that the “extent of outflows from these funds and on the possibility that funds could suspend [...]
Investor confidence index drops to four-year low after Brexit vote July 11, 2016 Investor confidence has hit a four-year low after the EU referendum result, according to one index. The Hargreaves Lansdown Investor Confidence Index experienced its sharpest monthly fall in five years at the end of June. The index fell from 92 points in May to 67 on 30 June, its lowest value since May 2012, a [...]
Wimbledon prize money: Andy Murray and Milos Raonic go head-to-head for £2m earnings boost July 10, 2016 Both Andy Murray and Milos Raonic can pocket the biggest prize of their career to date with victory in the Wimbledon men's singles final today. This year's champion will receive £2m, making it the richest men's final in the competition's history. The loser gets to console himself with a £1m pay cheque — the first time the All England Club has offered the runner-up a seven [...]
Asset managers close the gate on £15bn-£20bn funds July 7, 2016 Post-referendum reverberated through the City yesterday as several more property funds were forced to shut the gate on their investors, while the value of the pound languished below $1.30. Six companies’ funds, with an estimated value of £15bn to £20bn, have been frozen this week as fears over the consequences of the UK’s vote to leave [...]
Columbia Threadneedle’s property funds become the latest to suspend trading July 6, 2016 Columbia Threadneedle has become the latest firm to suspend trading on property funds. Both the Threadneedle UK Property Authorised Investment Fund (Threadneedle PAIF) and the Threadneedle UK Property Authorised Trust suspended at 12pm on Wednesday. It follows Aviva, M&G, Henderson, Standard Life and Canada Life in suspending trading on UK property funds. Read more: Fourth property fund suspension announced [...]
Henderson becomes fourth firm to close commercial property fund July 6, 2016 Henderson Global Investors has suspended trading in its commercial property funds, the latest in a series of closures as companies combat investor panic. The company said it has temporarily suspended all trading in the Henderson UK Property PAIF and the Henderson UK Property PAIF Feeder Fund to "safeguard the interests of all investors". "Despite a strong underlying portfolio, the [...]
Before the bell: What you need to know before the US market open July 6, 2016 Sterling and bond yields continue to slide, though gold has been labelled as the go-to investment for the rest of the year. Here's what you need to know before the US market opens at 2:30pm London time. US stock futures are not looking good ahead of the open. The S&P is down by 0.62 per cent, the Nasdaq is [...]
Aviva to pay half of earnings back to shareholders from 2017 July 6, 2016 Insurance giant Aviva plans to increase its dividend payout to shareholders, it told investors this morning. Ahead of its capital markets day, the UK’s second-largest insurer by market capitalisation said it planned to increase its payout ratio to 50 per cent in 2017 from its current level of 42 per cent. The announcement comes as positive [...]