Equity fund sales in US hit record $58bn
US investors have begun 2018 in a very bullish mood, with inflows into equities funds over the last four weeks hitting a new record, according to a report from BofA Merrill Lynch Global Research.
US investors have begun 2018 in a very bullish mood, with inflows into equities funds over the last four weeks hitting a new record, according to a report from BofA Merrill Lynch Global Research.
The UK’s top wealth managers were today crowned at the Portfolio Adviser Wealth Manager Awards, held at a gala ceremony in London.
The AIM-quoted Miton Group today announced its assets under management (AUM) rose some 32% over the calendar year, from £2.9bn at the end of 2016 to £3.82bn at 31 December 2017.
Allianz Global Investors has launched a fund which aims to deliver an excess return of 2.5% from the S&P 500 by adopting a passive and active approach to investing in US equities.
Scalable Capital, a digital wealth manager, has announced it will be offering clients professional advice through financial advisors, effective immediately.
Winterflood Investment Trusts (Wins) has made a number of changes to its model portfolio, including dropping Nick Train’s Finsbury Growth & Income Trust and adding the Aurora Investment Trust.
Brewin Dolphin has announced it will be cutting costs across its managed portfolio service by between 17% and 27% through switching to a segregated mandate structure from its current pooled retail funds model.
BNY Mellon Investment Management (IM) has launched an emerging market debt total return fund in response to the “demand for a long-only EM debt strategy”.
M&G Investments has begun to transfer the assets of four UK-domiciled open-ended funds with assets of around £9.3bn to equivalent funds on its Luxembourg platform.
Net retail sales of Sterling Strategic Bond funds neared £1.5bn for the second month in a row in November 2017, taking the total raised by the sector for the year to £7.25bn, according to the Investment Association.
Despite a drop in quarterly sales, investment trust purchases on fund platforms in the first nine months of 2017 have surpassed all records data compiled by Matrix Financial Clarity shows.
Wealth manager Tilney has “eliminated the low-hanging fruit” and reduced the number of funds it holds in its portfolios from 70 to 30.