People Moves
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Federated Hermes hires head of European credit opportunities
Joins the firm from Benefit Street Partners
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Otus Capital hires fund manager duo to launch global strategy
Jake Thomson and William Lough join
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Allspring hires international product head to keep pace with business growth
Sophie Freemantle has more than a decade of industry experience
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Aberdeen promotes McGrath to head of ESG fixed income
Replacing Marianne Zangerl, who was recently appointed global head of multi-asset and alternative investment solutions
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Amova Asset Management appoints US small-cap value equity team
John Albert and Kevin Finn have joined from small-cap boutique Piermont Capital Management
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Aberdeen appoints new global head of multi-asset and alternative investment solutions
The firm has also poached Mark Meiklekon from Aviva for its private markets team
Product
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Lansdowne Partners launches venture capital fund
The new strategy aims to invest in some of the most innovative UK startups emerging from universities and regional centres
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Fundscape: Platform flows surge to £51.3bn despite war in Iran
The firm’s latest report revealed that interest in adviser platforms remained robust in Q1
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PIMCO and Quilter partner on new global government bond fund
The new strategy has been added to the Quilter Managed portfolio range as part of an impromptu rebalance of the MPS
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Franklin Templeton launches four S&P 500 sector ETFs
The launches further expand the team’s existing active ETF range, set to be registered on the London Stock Exchange later this week
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Fidelity International launches two global equity strategies
The funds will be based on established investment approaches developed by Fidelity Investments, the firm’s US branch
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LondonMetric and SREIT make all-share offer for Picton Property Income
The offer values Picton’s issued share capital at £403.4m
Regulation
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FCA’s Pritchard warns lights shining on private markets ‘brighter than ever’
Addressed an audience at the Investment Association’s Private Markets Summit
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Hargreaves Lansdown and SJP to adopt ACT Informed designation
Four investment management houses have adopted City Hive’s new framework to reflect their commitment to culture and governance
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IA: Current risk warnings are counterproductive to investing
Reliance on phrases such as ‘capital at risk’ is unhelpful and discouraging to potential investors, research from UK’s trade body found
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Aberdeen: Sentiment slips towards private assets despite strong long-term returns
Recent research points towards the need for further education on the asset class
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AIC proposes changes to FCA listing rules to address ‘conflicts of interest’
The trust body has pushed for the FCA to consider three amendments to the listing rules.
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‘Calls to action have lacked clear proposals’: FCA defends its position on trusts
Legal defences exist that boards are not taking advantage of, according to a blog post from the regulator
Companies
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France’s Groupe Allen enters UK market via acquisition
Deal for London-based Altyx Financial Planning
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AI in asset management 2.0: Agents join the team
The emergence of agentic AI is already changing asset management
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Amundi sees 7% increase in AUM as net inflows reach four-year high
ETF and ‘index solution’ products attracted the biggest inflows at €24bn
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Liontrust outflows shrink by 35% in quarterly results
Firm attributes ‘increasing demand for active management’ from clients
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Standard Life to buy Aegon UK for £2bn
The new combined group will have 16 million customers and £480bn in assets under administration
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Premier Miton appoints former Fidelity manager as new head of global equities
Khowala will replace Neil Birrell, who was serving as head of global equities in the interim
Macro
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Healthy UK economic growth in first quarter ‘part statistical illusion’
The 0.6% figure comes despite Iran war
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Gilt yields rise again as Starmer fights to stay in Downing Street and Iran crisis rolls on
Oil prices also up as Iran deal eludes Trump
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Bank of England holds rates at 3.75% as the oil price continues to bubble
The market has priced in as many as three rate hikes from the BOE this year if geopolitical conflict persists
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Powell confirms he will stay on as the Fed holds rates again
Will join the board of governors when Kevin Warsh takes over as chair
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Markets on edge as US-Iran deal hangs in balance and Starmer faces parliament
Both foreign and domestic crises continuing
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.
