People Moves
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Quilter Cheviot selects Nick Wood as head of regional offices
Richard Thorn to retire after near four decades with Quilter Cheviot
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Jupiter hires Lombard Odier’s Tyler as head of UK
Current Lombard Odier IM head of UK wholesale will take up the role in spring 2025
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Columbia Threadneedle’s Steven Bell to retire in 2025
The chief economist will depart in March after over 11 years at the firm
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Artemis hires high yield analyst
Papadopoulos joins from Bank of America
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Euan McNeil exits Aegon following fund review
McNeil replaced on four Aegon funds after three-year outflow trends
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KBI Global Investors appoints natural resources portfolio manager
Craig Bonthron rejoins KBI Global Investors after 14 years away
Product
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Ashmore launches Emerging Markets Frontier Blended Debt fund
Sub-fund of Ashmore SICAV UCITS fund
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TILLIT adds five funds to platform
Funds include biotech, global, US, multi asset and UK mandates
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BNP Paribas appoints two investment directors to private debt team
Expands offering with unitranche strategy
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Average investment trust discount widens despite record share buybacks
A record 10 mergers occurred in 2024 while five trusts were liquidated
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First Trust rolls out aerospace and semiconductor ETFs
Bringing First Trust’s total UCITS ETF range up to 36 products
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Former Comgest CEO launches boutique Aecus Partners
Arnaud Cosserat launches firm alongside former Comgest trio
Regulation
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FCA launches CCI retail disclosure consultation
AIC CEO Richard Stone says the new framework for CCIs, including investment trusts, ‘misses the mark’
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FCA consults on ‘PISCES’ private stockmarket
Chancellor proposed the idea at her Mansion House speech last month
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Pisces receives investment community support, but raises liquidity questions
Industry commentators weigh in on how the market will fit with current investing environment
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Kepler: Lack of clear framework for trust fee disclosure causes confusion for investors
25% of Kepler’s retail investor base plan to allocate more to investment trusts following the change in disclosure rules
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FCA proposes extending investment research rules to pooled funds
Regulator wants to widen scope of recent research rule overhaul to UCITS and alternative investment funds
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FCA releases ‘good practice’ guidance for firms applying for SDR labels
Also includes ‘bad practice’ examples
Companies
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IIMI urges launching boutiques to consider corporate structure
Susannah de Jager and Dani Hristova discuss the importance of choosing the right corporate structure when launching a boutique
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Reports: Amundi considers buying AllianzGI
Rumours regarding a tie-up have been in circulation for more than a month
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Lindsell Train IT’s NAV return slumps as LTL valuation falls
The trust’s double-digit discount remains “a concern” for the company’s board
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J. Safra Sarasin acquires MIV Asset Management
The company has purchased 100% of the med-tech specialist’s shares
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Impax full-year results: Net outflows reach £5.8bn but AUM remains steady
Outflows increased by 6,204% compared to 2023
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Apax Funds to buy Evelyn Partners’ accountancy and advisory business
Will become a stand-alone business rebranded as S&W
Macro
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Bank of England holds interest rates at 4.75%
Industry commentators turn their focus to the possible trajectory for interest rates in 2025
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Fed lowers expectations to two rate cuts in 2025
Federal Reserve lowered interest rates by 25 basis points at the latest FOMC meeting
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Inflation rises to 2.6% as fuel prices mount
The Consumer Price Index rose yet again in November as fuel costs increased, making an interest rate cut unlikely
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UK unemployment rates remains unchanged at 4.3%
Salaries excluding bonuses increased by 5.2% between August and October this year
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UK economy contracts 0.1% in October
Falling below expectations of a modest 0.1% increase, according to the ONS
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Weekly Outlook: UK inflation and interest rate decisions
Key events for wealth managers in the week of 16 December
Videos
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Interview with Mark Burridge, managing partner and fund manager at Baker Steel Capital Managers
Will miners be able to meet the historic demand forecasts critical for the green energy transition?
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Q&A with Randeep Somel, deputy fund manager at M&G Investments
How do the M&G Sustain team align their portfolios to the Paris Agreement?
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Portfolio insights: Video interview with Dale Nicholls
Fidelity International manager Dale Nicholls highlights earnings as a major focus for Chinese equity investors in 2024
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Portfolio insights: Video interview with Marcel Stotzel
Fidelity International manager on what he will be looking out for as we head into 2024
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Video: Marco Lenfers, Vontobel Asset Management on decarbonisation
Metrics in impact investing provide the yardsticks for change.
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Video: J. Safra Sarasin’s senior portfolio manager Jayadev Mishra on fixed income
The value of diversification and the case for global high yield