People Moves
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IA appoints Newton’s Munro and M&G’s Pinto to board of directors
Columbia Threadneedle CEO Nick Ring to leave board
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Fidelity hires Talib Sheikh and Mario Baronci as Eugene Philalithis announces retirement
Sheikh and Baronci will join the multi-asset team, while Philalithis will retire next year
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Fidelity’s Jeremy Podger retires from portfolio management
He will become a senior advisor to the firm when he steps back from day-to-day work
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Atlantic House hires Credit Suisse fund manager Valeriu Trufas
Trufas will run the Uncorrelated Strategies fund alongside Tom Boyle
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Canaccord hires Rathbones’ Blake as senior investment director
Has previously held roles at Jupiter, Bestinvest and Brooks Macdonald
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SVM co-founder Margaret Lawson retires
Neil Veitch has assumed the role of lead fund manager on the SVM UK Growth Fund
Product
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LGIM unveils Global Brands ETF
Partnering with valuation consultancy Brand Finance
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Aviva Investors rolls out sterling liquidity fund
Fund managed by Richard Hallett and Josh Bramwell
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M&G to launch fixed maturity 18-month bond fund
The fund will be co-managed by Stefan Isaacs and Matthew Russell
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Robeco hires Fidelity’s Nick King to head up new ETF platform
King was Fidelity’s head of ETFs for eight years
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Federated Hermes launches second private equity innovation fund
Follows the original fund launched in 2020
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Vontobel launches ex-China EM equity fund
To be run by Roger Merz and the firm’s mtx team
Regulation
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Investment Association calls for improved rules for EU clients
The IA’s views are detailed in a report titled ‘Making Investment Better for All’
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Should retail investors be given access to LTAFs?
Advisers will play a ‘key role’ in helping clients understand long-term asset funds
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FCA sees improvement in value assessments but warns there is ‘still work to do’
FCA warns not enough firms are cutting fees
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Progeny buys Nottingham-based wealth manager
Purchase brings Progeny’s AUM to £8bn
Companies
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GAM investor group changes CEO candidate on eve of EGM
Chief risk officer Elmar Zumbuehl replaces Randel Freeman, who has withdrawn due to unforeseen family circumstances
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Close Brothers profits slide despite rise in client assets
Operating profit fell to £113.5m from £234.8m
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Rathbones completes £839m Investec W&I UK deal
Ruth Leas and Henrietta Baldock to join the Rathbones board
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M&G wholesale asset management arm books £1.3bn net inflows
Despite assets falling to £332.8bn in the six months to the end of June
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FE Fundinfo acquires French-based firm
Adjuto bought for an undisclosed sum
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Hargreaves Lansdown profits and AUM rise as new CEO settles in
Net new business fell to £4.8bn from £5.5bn
Macro
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Sir John Redwood blames central bank failures for spiralling inflation
IEA paper calls on BoE to stop selling bonds and review its inflation forecasting model
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Weekly outlook: European sentiment surveys due and AG Barr reports
Key events for UK wealth managers for the week starting 25 September
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Bank of England holds rates flat with MPC split following inflation drop
The MPC voted by five members to four to hold at 5.25%
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Federal Reserve ‘more hawkish than expected’ as it pauses hikes
Jerome Powell indicated another hike this year is on the cards
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Unexpected fall in inflation opens door to Bank of England rate hold
CPI at 6.7% on an annualised basis versus forecast of 7.1%
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Central bank look ahead: Policy to diverge ahead of interest rate decisions by the Fed, BoE and BoJ
Commentators expecting the Bank of England to hike on Thursday
Videos
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PA Pod: People often re-enter the closet when joining the workplace
In episode two of our diversity series, LGIM’s Andrzej Pioch and Aviva Investors’ Jake Hague discuss LGBT+ progress in the industry
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PA Pod: Are we really more gender inclusive?
The first ever episode of the PA Pod – focused on gender diversity – is unveiled
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How Janus Henderson helped my return to work after life-changing accident
Sarah de Lagarde shares how she has overcome physical and mental challenges since her accident eight months ago
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CFA UK CEO: Maintaining clients’ confidence during volatile periods
Natalie Kenway speaks to Will Goodhart about the most recent changes to the CFA programmes and a challenging outlook for wealth managers
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World Water Day 2023 – Bertrand Lecourt discusses the latest water and waste investment trends
World Water Day is an annual United Nations observance day held on 22 March that highlights the importance of fresh water. The day is used to advocate for the sustainability management of freshwater resources. The Regnan Sustainable Water and Waste Fund invests throughout the water supply chain and increases the access people have to freshwater, especially in urban settings. There is no economy without water, and no sustainable economy without waste management. Hear from senior fund manager, Bertrand Lecourt, as he sits down with Natalie Kenway to discuss the case for water and waste investments and its resilience through market conditions.