Competition will shrink funds universe, says Hillenbrand
Rising competition and a low-growth, low-return environment will shrink the number of funds offered by asset managers in coming years, predicts Henderson’s Simon Hillenbrand.
Companies
-
-
Investment flaws, miss-selling seen as biggest risks to robo-advice
Faulty algorithms and miss-selling are seen as the biggest risks to the development of robo-advice, a survey by Chartered Financial Analyst (CFA) institute revealed.
-
OMW’s ’bold new’ strategy yields increasing FUM
Old Mutual Wealth (OMW) highlighted its vertically integrated strategy (first adopted in 2012) as the primary driving force behind its stellar performance in Q1 2016.
-
Rolls-Royce shares fall as UK economy fears grow
Shares in Rolls-Royce fell nearly 5% on Thursday morning as the market greeted chief executive Warren East’s attempt at reassurance with a heavy dose of scepticism.
-
Stormy sales forecast sees Next slash sales guidance
Next’s share price rose as much as 6% during trade on Wednesday despite predicting a challenging year ahead.
-
Blackrock reinforces dominance in European fund industry
Blackrock now manages more European investor money than the next two largest asset managers combined after the US-based asset manager saw strong inflows during the first quarter of 2016, according to data provided by Lipper.
-
FTSE down as Shell underwhelms market
The FTSE 100 slipped 1.2% this morning as a number of its companies including Royal Dutch Shell released their latest performance numbers.
-
Standard Life buys Elevate as Axa confirms further UK disposal discussions
AXA has agreed to sell its wrap platform business to Standard Life and has confirmed it is in talks to dispose of its remaining UK life and savings assets.
-
Half of UK advisers turn away 5 clients every month
Almost half of British financial advisers have turned away up to five potential customers in a month, while one in 10 has rejected six or more people, according to a new study by Prudential.
-
Aberdeen shares slump as outflows continue
Shares in Aberdeen asset management fell almost 10% as Aberdeen’s chairman, Roger Cormick, admitted it “remains vulnerable to further outflows over the next few quarters.”
-
Dividend stays put but HSBC profits drop
HSBC’s executive management was at pains to put to rest concerns the bank might look to cut its dividend.
-
UBS Wealth adds £11bn of new money
UBS Wealth Management recorded net new money of £11.1bn during the first quarter of the year, the Swiss firm revealed today.
