Saudi Arabia has today opened its $570bn (£367.7bn) Tadawul stock exchange to direct foreign investments for the first time, which is being widely seen as a crucial stepping stone to the kingdom’s entry into the MSCI Emerging Markets index.
Birmingham-based family business Margetts Fund Management was one of the pioneers of risk-rated funds back in the 1990s. This came about after Toby Ricketts father, Tim, had left his job in the 1980s with Equitable Life to set up an IFA joint venture with a stockbroking firm, and in 1992 found the need to put…
UK platform provider Novia has revealed ambitious plans to launch an offshore version aimed at key expatriate markets in the second quarter of this year.
Carmignac Gestion’s flagship 25bn Patrimoine Fund has dramatically cut its equity exposure to less than 30%, as its management’s concerns have grown about the central banks’ ability to provide a safety net in a market downturn.
Old Mutual Global Investors is at an “advanced stage” of setting up partnerships with selected life companies and platforms to develop pooled fund products for the retirement market, in readiness for next year’s radical UK pension regime reforms.
SPDR, the ETF arm of State Street Global Advisors, is to switch the domicile of 13 of its funds from France to Ireland and cut fees on 15 of its core equity and fixed income products.
Standard Life is to let Manulife Financial distribute its investment products across retail markets in Asia, the US and Canada as part of a deal that also involves the sale of the Edinburgh-headquartered company’s Canadian arm for £2.2bn ($3.6bn, 2.75bn).
RBS aims to sell off the international business of Coutts as the ‘Plan A’ part of its strategy to focus on building its UK operations.
The UK’s Financial Conduct Authority has signalled a sharper regulatory focus on holding client money with the publication of its policy statement today, and the prospect of other jurisdictions following suit.
Woolnough, who runs the £19.6bn M&G Optimal Income Fund which is sold across continental Europe, told International Adviser that if this policy stance is maintained “eventually inflation will come back”. “I’d argue that even if they keep rates low you won’t get inflation to the extent that you have historically. So I’m a firm believer…
Blackrock has closed one of its mining stocks funds, run by Evy Hambro, because it was “uneconomic to manage”.
Marlborough has today launched four new Guernsey-domiciled feeder funds to provide expanded offshore access to its UK- and Europe-invested fund range.
