People Moves
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Sales director exits Ninety One
Spent two decades with the firm
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Rishi Sunak takes on senior adviser role at Goldman Sachs
Rejoins firm he previously worked for as an intern and analyst before moving into politics
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HSBC promotes Sami Abouzahr to global leadership role
Based in Hong Kong, Abouzahr will continue to report to Lavanya Chari
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M&G announces new CEO for responsAbility
Nadia Nikolova replaces Rochus Mommartz
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Canada Life appoints UK CEO
Emma Watkins joins from Scottish Widows
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Matt Bennison exits Schroders
Schroders on the hunt for two new hires
Product
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Quilter Cheviot rebrands Climate Assets fund
In light of SDR ‘Sustainability Focus’ label
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Marlborough swaps Aberdeen for TCW to run high yield bond fund
IFSL Marlborough High Yield Fixed Interest has been renamed IFSL Marlborough Global High Yield Bond
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Calastone: Middle East conflict prompts ‘buyers’ strike’ in June
Buy orders dropped to lowest level since September 2023
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Square Mile removes five funds from Academy Ratings
Two new funds rated in Square Mile’s June round-up
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Federated Hermes launches Ucits mirror of US quant fund
Bottom-up quantitative approach using machine learning
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IA fund flows: North America sees first outflows for six months in May
Investors sold down US exposure for European and global funds
Regulation
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LISA penalties ‘excessively punitive’ as Treasury calls for reform
Dual purpose design could be diverting savers away from more suitable products, MPs warn
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FCA launches ‘once in a generation’ advice reforms
Industry reacts to proposals designed to narrow advice gap
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Technology and competition are now ‘top concerns’ for asset managers
Tech disruption overtakes regulation as main issue of concern, according to FE fundinfo’s 2025 Asset Managers Report
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FCA appoints deputy chief executive
New role created at the regulator
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Gen Invest initiative launches to support young investment professionals
Founded and chaired by Guinness Global Investors client services lead Iona Frisby
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Industry group calls on FCA to cut barriers to entry for fund managers
Working group of City spokespeople have called for new fund management firms to be subject to a ‘lighter touch’ regime
Companies
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Pacific AM strikes deal for European equity boutique
Viewforth Investment Partners to become part of Pacific’s new European equities division
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Mirova and Thematics AM to merge
Mirova and Thematics Asset Management have announced a strategic merger, expected to close in Q4 of 2025
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Aberdeen: Investors pull net £6.4bn in Q1
A £6bn quant strategy funding win in April offset the outflows elsewhere
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Polar Capital reports 10% AUM fall in ‘difficult’ first quarter
AUM fell £2.4bn amid increased global volatility and uncertainty in Q1
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Hurst Point brings Hawksmoor and Argentis under unified management structure
New CEO Andrew Westenberger names executive team to oversee the two divisions
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EQ Investors considers ‘strategic partnership’ with larger firm
Philanthropist John Spiers said he believes that passing his shares to a foundation may no longer be the right path for the sustainable investor’s future
Macro
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Tariffs: Impending trade war evolving into a reform of global trade
As Trump pushes back imposing further tariffs until 1 August
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Weekly Outlook: Sainsbury’s reports and Marks & Spencer’s AGM
Key events for wealth managers in the week beginning 30 June
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Fidelity International warns of volatility amid ‘deepening fragmentation’
Report titled ‘A global rewiring’
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Muted market reaction to US strikes on Iran
Investors await Iran’s response, with concerns over energy supply chains in the event of a closure of the Strait of Hormuz
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Bank of England holds interest rates at 4.25%
Central bankers ‘sitting on their hands’ until the true economic impact of tariffs can be assessed
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UK exports to US fall by biggest volume on record
The £2bn drop in April is a third lower than the month prior, and the lowest level since the invasion of Ukraine in February 2022
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.