OMGI confirms fund merger and staff exits
Old Mutual Global Investors has ditched its absolute return fixed income desk as the firm’s management buyout looms, losing five staff and merging two funds due to the changes.
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Buxton’s single strategy sale approved
Quilter has received regulatory approval for the sale of Richard Buxton’s £27.5bn single strategy funds business as the wealth management business sets an indicative price range for its float later this month.
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M&G senior GEM manager steps down
M&G has announced that it will be losing one of its key emerging markets managers, Matthew Vaight.
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FCA reveals rising cost of PI cover
The scale of the burden of rising professional indemnity insurance (PII) premiums has been revealed in a new section of the UK regulator’s data bulletin.
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FCA irks investors with looser listing rules
The Investment Association has called for major indices to bypass companies in a new premium listing category for sovereign-controlled companies, despite the Financial Conduct Authority (FCA) offering concessions to the industry on the back of accusations it was pandering to Saudi Arabia as it prepared to list its state-owned oil company.
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BT ousts Patterson to appease shareholders
BT has ousted CEO Gavin Patterson in a bid to win back disgruntled shareholders in light of the telecom giant’s dire share price performance.
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Six DFMs reveal their China A-shares exposure
MSCI’s inclusion of 233 China A-shares in its three widely-tracked indices is expected to further open up the country to foreign investors and could result in the launch of more Asia ex China funds down the line. Here six wealth managers outline how their portfolios are exposed to A-shares.
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Baillie Gifford silent on failure to disclose manager exit
Baillie Gifford has refused to comment on why it did not disclose the exit of a named fund manager on its US Growth trust less than a week after launch.
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Pressure piles on ailing trust to shut up shop
Several major shareholders have called for the wind-up of Ranger Direct Lending Fund and a complete overhaul of the board amid its deteriorating performance.
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GSAM hires Source founder for European ETF drive
Goldman Sachs Asset Management has hired Peter Thompson to head up its exchange traded fund (ETF) business.
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Investors dump £8bn from UK equities since Brexit vote
FTSE highs failed to entice investors in April as they continued to pull money from UK equity funds, according to the latest monthly sales figures from the Investment Association.
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Advisers busier than ever due to pension freedoms
UK advisers are spending more time and resources dealing with retirement advice since the launch of pension freedoms, according to the latest research from AKG.
