Investec profits rise in wealth and fund management arms
Investec Wealth & Investment (IW&I) has reported a 14.1% growth in its operating profit in the six months to 30 September as its assets under management (AUM) grew to £51.3bn.
Companies
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M&G stems outflows
M&G Investments has stemmed the flow of investor money out of its funds, according to a trading update from parent company Prudential.
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McKinsey: Asset management to see explosive change
McKinsey & Co cited five trends that they expect will cause a “once-in-a-generation shift in competitive dynamics”, completely shaking up the asset management industry.
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FTSE 100 hoisted by Brexit-bruised Land Securities, easyJet and Vodafone
The FTSE 100 Index mirrored Monday morning’s rally and was up 0.8% at 6807 even after constituents Land Securities and Vodafone reported H1 losses and easyJet delivered lower profits Tuesday morning.
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Liontrust grows AUM by almost 30% in H1
Liontrust has reported a 29.5% growth in assets under management (AUM) from £4.4bn in 2015 to £5.7bn at 30 September 2016.
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RL360° acquires Ardan International from Rowan Dartington
RL360° is to acquire Rowan Dartington’s global platform business Ardan International for an undisclosed fee.
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Hong Kong IFA firm buys stake in Nutmeg for £24m
Convoy, one of the largest IFA firms in Hong Kong, has paid £24m ($30.2m, €27.8m) for a stake in UK investment platform Nutmeg, in a move praised by UK chancellor Philip Hammond.
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Taylor Wimpey shares spike despite sales slip
Taylor Wimpey was among the top ten FTSE 100 risers Monday morning after it put out a trading update, rising by 3.7% to 151p per share.
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Brooks Macdonald inks first international deal with Dubai IFA
Brooks Macdonald, the specialist discretionary fund management provider, has announced its first international strategic alliance, signing a deal with Dubai-based advisers Abacus Financial Consultants.
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AstraZeneca’s lower profits bitter pill to swallow
Shares were down 2.5% to 4,461.5p late Thursday morning, following reports the pharmaceutical group’s pre-tax profits had slipped 29%.
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M&S shares drop as it ditches stores
Marks & Spencer shares dipped by 1.83% to 342.6p as it announced it would be closing 30 stores in the UK and cease trading in ten overseas markets.
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Regional strength key in brave new distribution world – Reid
A strong regional presence is a key part of Royal London Investment Management’s wholesale growth plans, says Phil Reid.
