People Moves
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Neuberger Berman hires ex-Schroders global fixed income head
Paul Grainger joins Neuberger Berman after departing Schroders last year
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Jupiter hires GAM European equity trio
Niall Gallagher, Chris Sellers, and Chris Legg to join
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Abrdn appoints Xavier Meyer as investments CEO in restructure
Follows £3.1bn net outflows in Q3 results last month
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Ouajnat Karim becomes new CEO of AXA IM UK
She was appointed COO and global head of oversight earlier this year, and now takes charge from outgoing CEO Marcello Arona
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Rathbones hires analyst to multi-asset team
Emma Letheren joins from RBC Capital Markets
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Ian Aylward to lead AJ Bell’s MPS as head of investment partnerships
Aylward joins from Barclays to support the ‘rapid growth’ in its MPS offering
Product
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Fidelity to add private assets to £16.9bn pension scheme strategy
Investments will be made via Fidelity’s first Long-Term Asset Fund (LTAF)
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Liontrust to cut 25 jobs as profits dip
Liontrust will launch £4.5m in cost-saving measures over the coming months
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Edinburgh Worldwide to undergo restructure following poor performance
Baillie Gifford is to change the £630m trust’s investment policy after its share price halved in three years
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Quilter Monthly Income adds EMD amid allocation changes
Fund range has split its fixed income exposure into four, rather than using a single broad index
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BNP Paribas launches sustainable forestry fund
BNP Paribas launches sustainable forestry fund alongside International Woodland Company
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Ninety One acquires Sanlam Investment Management
It will take over management of its £17bn in assets under management
Regulation
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Pisces receives investment community support, but raises liquidity questions
Industry commentators weigh in on how the market will fit with current investing environment
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Kepler: Lack of clear framework for trust fee disclosure causes confusion for investors
25% of Kepler’s retail investor base plan to allocate more to investment trusts following the change in disclosure rules
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FCA proposes extending investment research rules to pooled funds
Regulator wants to widen scope of recent research rule overhaul to UCITS and alternative investment funds
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FCA releases ‘good practice’ guidance for firms applying for SDR labels
Also includes ‘bad practice’ examples
Companies
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Liontrust to cut 25 jobs as profits dip
Liontrust will launch £4.5m in cost-saving measures over the coming months
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Former Montanaro business development head launches distribution firm
Tom Norman-Butler spent 15 years at Montanaro before launching Beechtree Capital
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Ninety One acquires Sanlam Investment Management
It will take over management of its £17bn in assets under management
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Aviva Investors: Internal assets drive £1.7bn net outflow
External net inflows were £600m for the nine months to 30 September
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Tatton Asset Management sees organic inflows rise by 101% in half-year results
Group revenue increased by 23.7% in the six months to 30 September 2024
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Ex-Jupiter marketing heads set up boutique consultancy
Bold Partners, founded by Marcus Bolitho and Will Gold, will offer marketing services to asset managers
Macro
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European-domiciled long term funds attract €62.6bn for October
Active equity and fixed income funds saw positive inflows for the month
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UK inflation jumps to 2.3% for October
Industry commentators weigh in on inflation bounce
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UK economy grows 0.1% in Q3
Below expectations of a 0.2% increase
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Chancellor to unveil plans to merge local government pensions into ‘mega funds’
Reforms will see the £360bn of assets in 86 local government pension schemes pooled into eight ‘mega funds’
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US CPI rises to 2.6% for October
Industry commentators react to US CPI reading following presidential election
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UK wage growth ‘ticks stubbornly along’ at 4.8%
‘Significant slowdown in employee pay’ on the horizon, Quilter’s James warns
Videos
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Interview with Mark Burridge, managing partner and fund manager at Baker Steel Capital Managers
Will miners be able to meet the historic demand forecasts critical for the green energy transition?
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Q&A with Randeep Somel, deputy fund manager at M&G Investments
How do the M&G Sustain team align their portfolios to the Paris Agreement?
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Portfolio insights: Video interview with Dale Nicholls
Fidelity International manager Dale Nicholls highlights earnings as a major focus for Chinese equity investors in 2024
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Portfolio insights: Video interview with Marcel Stotzel
Fidelity International manager on what he will be looking out for as we head into 2024
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Video: Marco Lenfers, Vontobel Asset Management on decarbonisation
Metrics in impact investing provide the yardsticks for change.
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Video: J. Safra Sarasin’s senior portfolio manager Jayadev Mishra on fixed income
The value of diversification and the case for global high yield