Aberdeen Asset Management has ruled itself out of the race to buy Gartmore, with managing director of Asia Hugh Young saying the firm has its hands full with integrating Deutsche.Young, who is on the Aberdeen board, told Money Marketing that rumours linking the firm to Gartmore, valued by analysts at 600m, overlook its 265m acquisition of Deutsche Asset Management’s UK arm. AAM is integrating Deutsche’s institutional business, closing down retail brand DWS and consolidating the fund range. Young says: “We have our hands full with Deutsche and we have got the structure we want.” Other firms linked to Gartmore include Morley, Henderson, Schroders, and New Star, with first-round bids due in February. None of these firms will confirm they are in the running, but any bid for the firm is lik- ely to depend on the contractual obligations of fund manager Roger Guy, who runs 6bn in hedge funds. Leaked details of Gartmore’s accounts reveal the firm saw earnings grow by 130 per cent last year, with its flagship hedge fund division seeing returns up by 13.5 per cent.
Scottish Equitable Protect is moving into the pension term assurance market with a simple life product.
Interest rates Mortgage Express chief economist Peter Charles argues that with interest rates at historically low levels and nothing on the horizon that is likely to change the picture, prospective buyers do not have to rush into making a deal.
Home information packs are likely to be scrapped if they are not introduced by the Government’s target date of June, says John Charcol senior technical director Ray Boulger. Boulger says he doubts that Hips will be launched by the Government on time and also questions whether there will be enough home condition inspectors for a […]
Over half of people willing to postpone state pension
Royal London Asset Management UK Equity Fund Managers Martin Cholwill and Richard Marwood look at the compounding effect of dividend growth for UK equities and how it drives returns over time. Read the article in full The value of investments and the income from them is not guaranteed and may go down as well as […]
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Technology provider Moneyhub will now use Intelliflo’s application programming interface for its advisers. Integration onto the API will allow for advisers to access real-time information of client’s managed pensions and investments. Advisers will also be able to link investments they manage and see clients’ spending and savings patterns. The Big Interview: Moneyhub chief executive on […]
The past few years have seen a rapid rise in the number of fund managers linking with risk profilers to launch new ranges. Determining risk is a central part of the advice process. But risk-profiling tools have been subject to criticism over the wildly different asset allocations they produce and their lack of consistency when […]
AJ Bell is expanding its passive range to target a higher expected return for investors with a new global growth fund. AJ Bell launched its first range of own-brand funds last year with five risk-targeted multi-asset passive funds. The platform and Sipp provider said it has launched the Passive Global Growth fund in response to […]