People Moves
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Capital & Regional CEO resigns
Lawrence Hutchings steps down after seven years at the Reit
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Digital 9 Infrastructure elects Eric Sanderson as non-executive chair for wind down
Appointment follows late March vote for wind down
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Artemis hires impact equity analyst from Columbia Threadneedle
Lorraine Hau joins the firm in July from Columbia Threadneedle Investments
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Alex Funk to join PortfolioMetrix as head of investments in UK
Funk to depart Schroders Investment Solutions after three years
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Departing Allianz GI bond fund manager Riddell joins Fidelity
Riddell will be lead portfolio manager for Fidelity’s strategic and total return bond strategies
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Mike Riddell to exit Allianz GI in July
The Allianz Strategic Bond manager departs after eight years with the firm
Product
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AQR rolls out multi-strategy alternatives fund
AQR Apex Ucits fund will invest in a range of lowly correlated sub-strategies
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Titan Wealth acquires boutique manager Wigmore
Wigmore Associates Wealth Management acquisition brings Titan Wealth’s AUM to £17.4bn
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Janus Henderson to acquire Tabula IM as part of European ETF market push
US asset manager also announces deal for NBK Capital Partners
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IA: UK investors dip into market in March after two months of outflows
US equities experience £1.5bn in inflows for first three months of 2024
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Dimensional rolls out Sterling Short Duration Real Return fund
Seeks to offer investors protection from unexpected UK inflation
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FE Fundinfo: Gold and commodities top the charts for April
Nine of the 10 best performing funds specialised in gold or commodities
Regulation
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FCA enforcement investigation proposal is ‘radical departure’ from norm, warns AIMA
In response to FCA’s proposal to release enforcement investigation information before a decision is made
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Financial services sector leaders warn against FCA’s proposal to publicise enforcement investigations
Investment Association, UK Finance, PIMFA among others to sign letter to Jeremy Hunt against proposal
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PwC: Half of EMEA firms think AML regulations need more clarity
20% of respondents were concerned about lack of uniformity in applying regulations
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Will the FCA’s response to Link failures change the role of ACDs?
TTF challenges regulator’s claim its Weif enforcement action will raise industry standards among ACDs
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Woodford: Link avoided £50m FCA fine due to redress scheme
Regulator said it would have proposed a penalty of up to £50m if Link had not settled on a scheme of arrangement
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FCA to take action against Neil Woodford and WIM
Also found Link Fund Solutions failed to act with due skill, care and diligence in its management of the Woodford Equity Income Fund
Companies
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City Hive targets 50 signatories to ACT Standard by 2025
Standard of corporate culture launched two years ago and currently has 17 signatories
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Investec W&I suffers £600m net outflows following investment manager departures
Offset Rathbones’ positive wealth management inflows over the quarter
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J O Hambro sells 14.9m Hipgnosis shares
The major shareholder reduced its position after the share price leapt 48.4%
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Janus Henderson to acquire Tabula IM as part of European ETF market push
US asset manager also announces deal for NBK Capital Partners
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St James’s Place sees net inflows shrink while FUM grows in Q1 2024
Inflows fell by 64% compared to Q1 2023 as outflows remained ‘elevated’
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Blackstone hits back in Hipgnosis bidding war with £1.26bn counteroffer
Trust’s board has recommended the bid and withdrawn support for Concord Music’s offer
Macro
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Bank of England holds interest rates at 5.25% ahead of summer rate cut expectations
Two out of nine MPC members voted to cut
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Bank of England rate cut likelihood moves closer to end of the year
Predictions come ahead of tomorrow’s (9 May’s) Monetary Policy Committee meeting
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Weekly Outlook: Bank of England monetary policy decision and BP quarterly results
Key events for UK wealth managers for the week starting 6 May
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Fed holds interest rates, drops redemption cap in May decision
Industry commentators weigh in on the decision to hold
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Strong eurozone growth paves the way for June rate cuts
‘Meaningful’ economic growth in the eurozone in the first quarter is a ’cause for optimism’
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Weekly Outlook: Federal Reserve meeting and Amazon Q1 update
Key events for UK wealth managers for the week starting 29 April
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