Great Western Rail owner rejects PE giant’s offer
First Group has rebuffed an undisclosed offer from Apollo Global Management, claiming it “fundamentally undervalues” the business.
Companies
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The top 10 trusts of Q1
During a rockier-than-anticipated first quarter, which investment trusts rose to the top? Portfolio Adviser examines the 10 best performers on a share price basis, using data from Stifel.
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Fidelity steps up passives price war
Fidelity International has stepped up the passives price war with the launch of six low cost cross-border equity index funds and the reduction of pricing on three existing UK-domiciled index funds.
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Liontrust AUM grows 61% in a year
Liontrust’s assets under management hit £10.5bn over the financial year to the end of March, enhanced by its acquisition of Alliance Trust Investments last April.
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Aviva Investors positions for eight US Fed hikes
Aviva Investors has moved neutral on the US and overweight on emerging market (EM) equities, debt and currency as it predicts eight rate rises from the Federal Reserve in 2018 and 2019.
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Zurich sells Openwork stake two years early
Zurich has sold its 25% stake in Openwork two years earlier than expected, handing majority ownership to the IFA network’s partners.
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Premier redemptions slow despite ‘difficult’ market
Premier Asset Management delivered positive net flows of £411m and lower redemptions over the first half of the year, despite what it called “a more difficult market environment”.
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Fairstone poised to buy nine IFAs this year
Fairstone is set to acquire IFA firms in Leicester and Stockton-on-Tees and anticipates it will line up seven more acquisitions this year.
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Antipodes Partners continues UK push with long-only fund
Australian boutique Antipodes Partners has launched a long-only global equity Ucits strategy as part of its expansion into the UK market.
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Deutsche Bank ousts British boss; hails ‘new era’
Deutsche Bank has replaced British boss John Cryan with Christian Sewing, who it said will usher in a “new era” for the battered bank.
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Rathbones confirms takeover talks with Scottish broker
Rathbones has addressed speculation it is preparing a takeover battle for 112-year old Scottish stockbroker, Speirs & Jeffrey.
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Woodford pharma darling proposes de-listing and liquidation
Abaco Capital, a pharmaceutical company majority-owned by Neil Woodford, has announced its intention to cease trading on the Aim exchange and enter voluntary liquidation after failing to make a mandatory takeover bid.
