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BNP Paribas emerging debt team moves to BlackRock

BlackRock has appointed an emerging market debt team of seven managers from BNP Paribas Investment Partners. this week revealed that BNP Paribas chief investment officer of emerging market fixed income Sergio Trigo-Paz will lead the new team at BlackRock.

Money Marketing understands BNP Paribas portfolio managers Raphael Marechal, Chris Kelly, Laurent Develay, Michel Aubenas and Jane Yu and senior investment specialist Ernesto Bettoni will also join BlackRock in the summer.

BlackRock head of the emerging markets debt team Imran Hussain is currently supported by portfolio manager Daniel Shaykevich and the team manages arounds £2.6bn in a range of Luxemburg-domiciled emerging market bond funds.

Senior managing director and head of portfolio management Rich Kushel says: “We are thrilled about this new team.”


Nationwide and Lloyds cut proc fees

Nationwide Building Society and some Lloyds Banking Group brands have cut procuration fees. Money Marketing understands Nationwide cut its proc fees for directly authorised intermediaries by two basis points, from 0.35 per cent to 0.33 per cent, from April 2. Appointed representatives are not affected. Nationwide confirmed the cut but not the new proc fee, […]


Scot Life says providers snubbed decency limits on adviser-charging

Scottish Life says providers roundly rejected an FSA suggestion that decency limits on adviser-charging should be introduced. Speaking at a Money Marketing RDR invitational event in London last month, business development manager Fiona Tait said the regulator wanted providers to report advisers who were taking excessive adviser charges from products. Tait said: “The FSA did […]


Structured rise as investment complaints fall

The number of complaints about structured products leapt by 40 per cent between June and December last year. FSA complaint data, which was published last week, shows there were 1,692 complaints about structured products over the second half of last year compared with 1,219 in the previous six months. Overall, complaints about investments fell by […]

The Merchants Trust PLC – May 2017

Welcome to the latest update for The Merchants Trust PLC from the Trust’s portfolio manager, Simon Gergel. Side Thoughts from Simon Gergel… April saw the first day since the industrial revolution that no coal was used to generate electricity for the UK’s national grid. The Financial Times reported that around 34% of power was generated […]


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