OMGI spin out will not be named after Buxton
Old Mutual Global Investor’s single strategy spin out has not taken Richard Buxton’s name for its branding, unlike other boutique brands launched by star fund managers.
Companies
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Funds face challenging search for independent directors
The asset management industry could be looking for more than 400 new directors, but are the skills there or will the directorships be filled by a select few?
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Rathbones creates new exec role in reshuffle
Rathbone Investment Management has moved group finance director Paul Stockton into the newly created role of managing director as it looks to strengthen its executive team.
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Woodford ditched for Evenlode in FE funds rebalance
Fund rating house FE has booted Woodford Income Focus from its preferred funds list and introduced rival Evenlode Income in its latest rebalance.
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Sainsbury’s shares soar after ‘game changer’ Asda merger
Sainsbury’s shares took off on Monday as it confirmed it had agreed to a takeover deal with Asda to potentially form the UK’s largest supermarket chain.
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Brooks Macdonald assets fall but Amundi bucks trend
Brooks Macdonald has joined the growing rank of asset managers that have seen total assets contract for the first three months of 2018, but Amundi has just managed to buck the trend, posting assets under management (AUM) growth in Q1.
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Jupiter’s Slendebroek confronts outflows and gender pay gap
Jupiter CEO Maarten Slendebroek reiterated that future flows will be “less predictable” as Jupiter diversifies its business away from the UK market, while addressing the firm’s other issues like its gender pay gap.
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Axa IM’s veteran Nigel Thomas to retire
Axa Investment Management’s veteran fund manager Nigel Thomas is set to retire in March 2019 after 40 years in asset management and 16 years at the firm.
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Mortgage-backed securities and PPI hit Barclays in Q1
Barclays has reported a group pre-tax loss of £236m for its first quarter following a £1.4bn settlement with the US Department of Justice (DoJ) over the sale of mortgage-backed securities.
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Schroders’ assets drop in Q1
Schroders is the latest manager to report a hit to total assets over the first quarter as fund groups cope with higher volatility.
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Aberdeen Standard heaps scorn on Persimmon at AGM
Aberdeen Standard Investments has joined Royal London Asset Management (RLAM) in voting against Persimmon’s remuneration package, which it said threatens the firm’s reputation.
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7IM gets approval to set up Jersey office
Seven Investment Management (7IM) has received approval from the Jersey Financial Services Commission (JFSC) to open an office on the island.
