RLAM inflows up despite referendum
Royal London Asset Management managed to generate a significant rise in net flows in the first half of 2016 despite the outflows seen across the asset management industry in the run up to the Brexit vote.
Companies
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7IM AUM climbed 30% last year
Seven Investment Management saw its assets under management increase by 30% in 2015, the firm reported.
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BHP shares rally despite $6.4bn loss
BHP Billiton shares were the second highest riser in the FTSE 100, climbing 3.3% to 1076.8p despite reporting record losses in its interim results Tuesday morning.
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Rothschild seeks shelter in absolute return and gold
RIT Capital Partners has increased its allocation to absolute return and credit assets by 8% and pulled back from quoted equities and sterling to navigate choppy “uncharted waters” post-Brexit.
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Old Mutual Wealth takes profit hit despite OMGI inflows
Old Mutual shares slid by 5.9% to 212p and were the worst FTSE 100 performer Thursday morning after disclosing a 31% profit hit at Old Mutual Wealth in its interim results.
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L&G sells Cofunds to Aegon
Legal & General Group has sold its investment platform Cofunds to Dutch insurer Aegon.
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M&G sees £7bn outflow and profit dip
Prudential owned M&G Investments recorded £7bn in net outflows over the first half of the year, and saw a 10% slide in profits.
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Standard Life shares rise but GARS sees outflows
Standard Life shares were trading 4.4% higher at 332.6p despite Standard Life Investments’ highly popular Global Absolute Return Strategies fund reportedly seeing its first quarterly outflows.
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LGIM’s profits slip despite AUM climb
Legal & General Investment Management’s profit slipped by a marginal 3% to £171m in the first half of the year versus the same period in 2015.
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Old Mutual sells Italian business to Cinven for €278m
Old Mutual Wealth has agreed to sell its Italian business to European private equity firm, Cinven for €278m (£236m, $308m).
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Wealth management will look markedly different in five years – Killingbeck
Wealth management businesses will look very different in five years’ time, said, Richard Killingbeck.
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Old Mutual Wealth absorbs second financial planner in two months
Old Mutual Wealth and Private Client Advisers has acquired West Yorkshire financial adviser, Beaumont Robinson.
