People Moves
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Liontrust’s Milburn to retire
Fixed income capabilities brought into a single team
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Janus Henderson hires EM debt client portfolio manager
Mia Söderberg joins from Munich Re Group Investment Management
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Invesco appoints new head of EMEA
Oliver Bilal takes over with immediate effect
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Fidelity hires stewardship director from Lazard
Based in London, reporting to Flora Wang
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AIC appoints chair as Humphries steps down
Sapna Shah adopts the new role with ‘immediate effect’
Product
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Robeco adds two active ETFs
Dynamic High Yield and 3D Enhanced Index Credits launched in UCITS ETF format
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Janus Henderson launches ninth active UCITS ETF
Exposure to US short duration high yield corporate bonds
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Redwheel continues to rationalise sustainable fund range
Redwheel UK Climate Engagement fund will merge into the group’s UK Value fund on 26 February
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Life Science REIT to be sold for £150m
British Land has agreed terms for the REIT in a cash-and-shares deal
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Fidelity rolls out two active bond ETFs
The ETFs will track the Bloomberg US Corporate Investment Grade and Bloomberg Euro Aggregate Corporate indices
Regulation
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FCA announces review into AI impact on retail markets
The Mills Review will consider emerging consumer uses of AI, and impact on markets and competition
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View from the Top: Momentum is building for boutiques to scale sustainably
IIMI CEO Dani Hristova on start-up challenges in the UK, the repositioning of active management and why culture is the foundation of a boutique
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J.P. Morgan and SJP throw weight behind campaign to get Brits investing
Investment Association and FCA also involved
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FCA ‘policy blitz’ as retail disclosure rules finalised
Firms have until June 2027 to implement the changes to product disclosure, which will see KIDs replaced by a more flexible product summary
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Budget 2025: Cash ISAs capped at £12k from 2027
Additional £8k of allowance must be invested
Companies
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Lazard bolsters credit team with head of leveraged loans and high yield
Gordon McKemie joins from Blackstone Credit and Insurance
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Liontrust hit by £1bn quarterly outflow
Outflows partially offset by £471m of investment gains
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Artemis and Brickwood join IIMI
Membership now represents £722bn in assets
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TEAM PLC to acquire WH Ireland in £12.7m deal
Acquisition supported by 61% of WH Ireland shareholders so far
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Jupiter’s Tyler: Strengthening our standing in the UK retail market
The head of UK discusses deepening regional presence, broadening accessibility and capabilities as well as the shifting investor landscape
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Financial services show progress in addressing modern slavery
Investec, M&G, St. James’s Place, London Stock Exchange Group, Lloyds and Legal & General have all improved
Macro
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Bank of England holds rates at 3.75% in narrow 5-4 vote
Commentators suggest the narrow voting split could bring a potential cut in March into scope
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Fed presses pause on rate cuts as Powell defends central bank independence
‘The Fed appears to have earned the luxury of patience — a position not all central banks can yet claim’
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Markets rise on Trump’s EU tariffs U-turn
US and European markets are up following Trump’s Davos speech, in which he ruled out the possibility of taking Greenland by force
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Inflation rise a ‘mild setback’ for Bank of England rather than a dealbreaker
Climb to 3.4% in December was in line with forecasts
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Weak UK jobs data could lead to further interest rate cuts
Latest jobs data showed signs of a slowing economy, which could empower the BoE to make further interest rate cuts, commentators say
Videos
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Trust Talk: The AIC’s Richard Stone on activism, engagement and the Saba saga
First episode of a new PA video series
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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.
