Josh Crabb and team to exit OMGI
Old Mutual Global Investors (OMGI) is to hand the management of its two Asian equity funds to the firm’s global equities desk headed by Ian Heslop and part ways with fund manager Josh Crabb and his investment team.
Author: Kirsten Hastings
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Clients of defunct DFM set for payment
The UK’s Financial Services Compensation Scheme expects to shortly make the first payments to customers of discretionary fund manager Strand Capital, which entered administration in May 2017.
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FBI operation delayed shutdown of defunct British DFM
Insolvent discretionary fund manager Beaufort Securities was given a stay of execution by the UK regulator to allow the Federal Bureau of Investigation to finish its undercover operation, it has been revealed.
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Cycling superstar Bradley Wiggins named in charity tax scam
Tour de France champion Sir Bradley Wiggins has been named as an investor in a tax avoidance scheme that used a charity as a front in an attempt to deprive HM Treasury of more than £100m.
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Chinese environmentalism attracts Mirabaud
China’s push to clean up its environmental act has made it an attractive investment destination, according to Mirabaud Asset Management’s head of global emerging markets, Daniel Tubbs.
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Aberdeen Standard Investments to set up Dublin hub
Aberdeen Standard Investments (ASI) is to establish an investment and distribution business in Ireland to complement its existing Luxembourg operation and shore up its European offering ahead of Brexit.
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St James’s Place co-founder dies
One of the founders of St James’s Place, Mike Wilson, has died at the age of 74 following a battle with cancer.
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FCA resurrects public IFA register
In a move that comes too late for scammed British Steel Pension Scheme (BSPS) members, the Financial Conduct Authority has announced a consultation on a public register of approved financial advisers and other industry professionals.
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Phoenix £6bn offshore bond grab opens market to last players
The acquisition of Standard Life Aberdeen’s UK and European insurance arm will net closed book insurer Phoenix Group around £6bn in offshore bonds, the company has confirmed.
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UK opens cryptocurrency inquiry
Bitcoin, ether and other digital currencies are to come under scrutiny in the UK after the Treasury Committee announced on Thursday it has launched an inquiry into digital currencies and the technology behind them.
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European watchdog warns of investment fund ‘fire sales’
Mismatches between the liquidity of open-ended investment funds’ assets and their redemption profiles could lead to “fire sales” to meet redemption requests in times of market stress, the European Systemic Risk Board (ESRB) has warned.
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£5.1bn UK advice firm up for sale
Despite growing assets under management by 10%, the parent company of UK advice firm Saunderson House is looking to sell the business. Sipp provider James Hay will be retained, even as it faces a £20m fine for investments in defunct Guernsey-listed biofuel scheme Elysian Fuels.
