People Moves
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Aberdeen appoints head of private credit and fund finance
No changes to the leadership of the underlying investment teams
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Richard Romer-Lee retires as CEO of Titan Square Mile
Romer-Lee has been with the Square Mile since its launch in 2014
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Evelyn Partners CEO Geddes to step down after NatWest acquisition
Current chief investment management officer Chris Kenny is set to take over the role
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Aberdeen’s Kaloo steps down as Bots takes over as global head of equities
Meanwhile, deputy head of global emerging market equities Nick Robinson has been promoted
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KPMG International appoints asset management head
Replaces the retiring Jim Suglia
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Fidelity appoints new director of ETF strategy and product development
Elisa Prezzavento will be based in London to support the development of the firm’s ETF capacity in Europe and Asia
Product
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AJ Bell cuts core MPS fees
‘Hugely popular’ with advisers
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PGIM launches global private credit fund
Matthew Harvey, global head of middle market direct lending at PGIM, will be lead manager
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Nordea launches systematic fixed income strategy
The new strategy will apply the firm’s BetaPlus framework to the US corporate bond universe to generate consistent excess returns
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Fairview’s Yearsley: Tech continues to power ahead of the market as Asia also shines
Latin America funds the worst performers
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AllianceBernstein launches pair of active ETFs
Follows the roll-out of its European active ETF platform
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Finsbury Growth and Income boosts gearing to maximum after ‘disappointing’ performance
The trust is now deploying the full £100m borrowing capacity and doubling down on its position in out-of-favour UK businesses
Regulation
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‘An unknown future’: Impax Environmental Markets approaches ‘critical’ vote in Saba saga
In an open letter to shareholders, chair Glen Suarez warned investors against electing Saba Capital’s proposed nominees
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FCA and Bank of England say firms can adopt tokenisation with ‘greater confidence’
Inviting industry input
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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
Companies
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Premier Miton sheds £1.3bn in outflows as global equity strategies underperform
The ‘disappointing’ performance was concentrated primarily in a small selection of strategies, according to the team.
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BlackRock’s Taylor joins JPMAM’s ETF platform
Taylor brings almost 20 years of industry experience to the team, including more than a decade of experience at BlackRock
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France’s Groupe Allen enters UK market via acquisition
Deal for London-based Altyx Financial Planning
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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
Macro
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Schroders: Half of advisers shift towards defensive assets due to recent volatility
Nearly a quarter of UK advisers boosted their allocations to active managers in the process, Schroder research found
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Fairview’s Yearsley: Tech continues to power ahead of the market as Asia also shines
Latin America funds the worst performers
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‘The respite is short-lived’: Industry reacts to lower-than-expected UK inflation
While the data is welcome, experts believe more pain is on the cards for consumers
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BoA Merrill Lynch: Record number of European fund managers rotate into US stocks
A net 4% of European fund managers are underweight the bloc
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UK labour market loses momentum in first quarter as geopolitics start to bite
Despite the IMF upgrading the UK growth forecast and healthy economic growth last week, the UK labour market has continued to slide
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Oil price spooks markets again as Iran deal remains elusive and Starmer saga rolls on
Price of a barrel hits $111 as gilts remain under pressure
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.
