Rowan Dartington sees AUM boost ahead of ‘SJP effect’
Rowan Dartington has registered a year-to-date FUM increase of 25%, buoyed by its private client, IFA and international businesses, as well as funds from parent St James’s Place.
Companies
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UBS launches ’robo’ wealth manager
UBS is entering the robo-advice space as it prepares to bring a digital wealth management proposition to market next month in a bid to attract younger clients.
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RBS shares slump after SME scandal surfaces
Shares in RBS were down 2.36% to 177.6p this morning in light of reports of leaked documents revealing its restructuring division tried to turn a profit from failing businesses.
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City Financial sells The Adviser Centre to Embark
City Financial has sold The Adviser Centre to Embark Group for an undisclosed sum as greater consolidation in the DFM and platform sectors are expected.
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Neptune and Raymond James join forces for DFM launch
Neptune is to launch a discretionary fund management business in partnership with Raymond James Investment Services under the moniker Equester Capital Management.
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Deutsche Bank in asset management spin-off rumours
Deutsche Bank is working on an initial public offering of its asset management division to rebuild its capital position, the Financial Times has reported.
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European Wealth buy Towry’s £120m South African client book
European Wealth has bought a book of business from Towry Asset Management, based on its clients in South Africa, who are estimated to have £120m ($152m, €132m) worth of assets.
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Fidelity FundsNetwork on FCA complaints list
Fidelity FundsNetwork has been named alongside banking giants Barclays, HSBC and Santander in receiving the most investment-related complaints in the first half of the year.
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EasyJet shares lurch lower after second post-Brexit profit warning
EasyJet was the worst performing FTSE 100 stock Thursday morning after its second successive profits warning.
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Liontrust’s AUM swells to £5.7bn
Liontrust Asset Management has grown its assets under management by 19% in just six months, according to a latest trading statement by the firm.
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Tesco shares surge after recovery story takes root
The market was enticed by Tesco’s recovery story Wednesday morning, leading to a 10.6% jump in the supermarket’s share price to 208.7p.
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Henderson/Janus merger raises more questions than it answers
Announced yesterday, the obvious benefit of the merger between Henderson and Janus will be the scale afforded to both parties, and the necessary cost savings active managers now need to survive as passive funds gain traction.
