Shares in Schroders were down 2.7% to 3,042p on Thursday after it announced that Philip Mallinckrodt had stepped down and reported a sharp rise in fund outflows from retail investors in 2016.
Axa Investment Managers (IM) said its 35% annual rise in net new money inflows was a testament to its “resilient” business model while setting out ambitions for further acquisitions this year.
Markets responded positively to ITV’s results on Wednesday, despite the British broadcaster’s prediction of lower advertising revenues in the near term.
Shares in St James’s Place (SJP) were down 2.6% at 1060p Tuesday morning, following news that chief executive David Bellamy plans to step down after 26 years at the firm.
Old Mutual Wealth (OMW) subsidiary Intrinsic Financial Services is set to acquire financial adviser network Caerus Capital Group, bringing total adviser numbers to 3,600.
River and Mercantile Asset Management has reported a 300% increase in net pre-tax profits from performance fees for the six-month period to 31 December 2016, compared with the previous year.
The FTSE 100 fell 0.7% to 7,221 as RBS rounded off a busy week of UK bank results with a staggering £7bn loss, while Standard Life failed to wow with weaker gross inflows.
Jupiter Fund Management has announced several key changes to its charges in its final results, amid mounting pressure from industry watchdogs on fee clarity.
Old Mutual Global Investors remains positive on the prospects for Barclays, in contrast with the negative market reaction to the bank’s annual results on Thursday.
The market rise in the latter half of 2016 helped push Rathbone Brother’s funds under management up 17.1% in 2016, although the costs of acquisitions and a head office relocation saw overall profits fall 14.5%.
Shares in Barclays were a fraction of a percent down at 234p by midday on Thursday despite the bank reporting full year profits close to three times the amount recorded the previous year.
Lloyds Banking Group now represents a ‘compelling story’ for investors, according to Quilter Cheviot.
