Institutions don’t share retail investors’ optimism on returns October 28, 2020 Schroders’ studies suggest retail – or individual – investors are more optimistic about future returns than investors at large institutions. Individuals have indicated that they expect average annual returns of nearly 11% over the next five years while institutional investors anticipate a more moderate 6%. Schroders’ Institutional Investor Study is an analysis of views from [...]
Rush to beat stamp duty rise sees UK house prices jump again October 28, 2020 The stamp duty holiday and pent-up demand have led to a stampede into the housing market, with 140,000 more buyers currently waiting to complete their property transactions than a year earlier, according to a new report. The high demand saw UK house prices jump again in September by three per cent year on year, the [...]
Beautiful Samoa: Beautiful will always be here October 27, 2020 Nestled in the heart of the Polynesia – only four hours away from New Zealand, five hours from Australia and three hours from Fiji – lies beautiful Samoa. Known for its pristine beaches, lush gardens, majestic mountains, breath-taking waterfalls, powerful blowholes and stunning seascapes, the islands of Samoa celebrate the gifts bestowed upon it by [...]
Fidelity acquires LGIM’s personal investing business October 23, 2020 Fidelity has acquired Legal and General Investment Management’s personal investing business for an undisclosed sum. The business will now form part of Fidelity’s own personal investing platform and will more than double its current 280,000 customers on the platform, which has £20.3bn in assets under management. LGIM’s UK personal investing business has £5.8bn in assets [...]
Whisky, stilton and pork pies to be protected in post-Brexit food regulations October 22, 2020 The government today set out new legislation to guarantee the authenticity and origin of traditional British foods such as stilton, pork pies and Scotch whisky at the end of the Brexit transition period. Negotiations between the UK and EU are still ongoing, with time running thin for a trade deal with the bloc before Britain [...]
Daily Mail owner raises profit outlook following spike in advertising revenue October 22, 2020 The Daily Mail and General Trust (DMGT) has raised its full-year profit outlook following a strong hike in advertising revenue, after formally suspending guidance in the initial outbreak of the pandemic. DMGT today said it expects group adjusted revenue for the year to be in the region of £1.205bn to £1.215bn, with adjusted operating profit [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 21, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. City firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of [...]
Segro buys Canning Town warehouse in £133m deal October 21, 2020 Property development firm Segro is adding a Canning Town warehouse estate to its London portfolio as it increases its presence in the capital. The landlord, which counts Amazon and Ocado as some of its clients, today announced it had acquired Electra Park, a 13 acre urban warehouse, from global investment manager Schroders for £133m. The [...]
Majority of Londoners plan to stay in capital despite pandemic fallout October 21, 2020 Londoners have remained loyal to their city throughout the coronavirus crisis, with the bulk of people in the capital pledging not to leave the city despite fresh Tier 2 restrictions and work from home orders, according to new research. Just seven per cent of Londoners plan to pack up and flee the capital in the [...]
UBS profit soars 99 per cent on trading boom October 20, 2020 UBS reaped the benefits of the rebound in global markets in the third quarter, with its investment banking arm helping the overall business achieve a 99 per cent jump in profit. The Swiss lender’s wealth management arm – which has been a focus of departing chief executive Sergio Ermotti – also expanded despite the coronavirus [...]