The impact of weaker markets saw funds under management at St James’s Place drop in the first quarter of the year, when compared to its Q4 2017 result. In an update this morning, SJP says funds under management at 31 March 2018 were £89.9bn, down from £90.8bn in the previous quarter. On a year-on-year basis, funds under […]
True Potential has grown assets in its discretionary portfolios by £2.1bn in 2017. In its annual results, published today, the platform says it has attracted £3.8bn assets in its in-house funds in 2017, up from £1.7bn in the previous year. Assets into the funds were at £0.7bn in 2015. Since launch in October 2015, True […]
Fund managers are cutting back on research spending from banks and brokerages following the launch of Mifid II in January. According to the Financial Times, European asset manager Candriam has reduced the number of brokers it uses from 100 to 70 since the beginning of the year. Candriam chief executive Naïm Abou-Jaoudé the firm has […]
The Financial Ombudsman Service has told Kingswood Financial Advisors to compensate a client over a Sipp investment in an unregulated Harlequin property fund. The case concerns Mr B’s complaints about the advice he received regarding two unregulated investments: one into a Harlequin property fund and the other into Green Oil. The ombudsman’s ruling relates to […]
A former Fidelity International female employee is claiming compensation against the asset manager following an alleged case of harassment from senior management, Money Marketing can reveal. The employee, who we will name Mrs A, and who used to be based at one of Fidelity’s offices in India, was sent an employment termination letter on 14 March […]
Allianz Global Investors has launched a performance fee structure on five of its UK funds in response to the competition with passive providers and an increasing transparency clampdown. The ‘outperformance fee’ share class will charge a fixed fee of 20 basis points and a performance fee of 20 per cent that will apply only if the […]
Jupiter Fund Management has seen a total £1.3bn of net outflows in the first three months of this year, according to its trading update this morning. The group attributes the majority of outflows to its fixed income strategies, which saw £1.1bn leaving the funds. However, in its yearly results published in February, the asset manager […]
Veteran Asian equity fund manager Josh Crabb and his team are leaving Old Mutual Global Investors following “a fund range review” by the asset manager. OMGI says Crabb and the Asian equities team based in Hong Kong will be leaving the business in May “to pursue other opportunities”. The firm says Hong Kong will remain […]
Mobile savings app Moneybox is eyeing the launch of a Sipp, joining other digital wealth managers entering the retirement arena, Money Marketing understands. Moneybox allows customers to allocate small amounts of savings towards investment plans by rounding up card payments to the nearest pound. In April 2016, Moneybox was among the small number of direct-to-consumer […]
Standard Life Investments UK Smaller Companies Fund manager Harry Nimmo believes his fund will ride out any post-Brexit headwinds due to its international exposure and the strength of UK businesses. Nimmo says that 54 per cent of profits for companies in the fund come from outside the UK, which will help shield it from any economic […]
The FCA has confirmed that appointing financial advisers to be independent directors on the boards of asset management firms would not necessarily breach conflict of interest rules. In new rules the FCA put forward to improve the asset management sector earlier this month, the regulator said it wants fund houses to hire independent directors to […]
Fidelity International has launched six cross-border equity index funds and further reduced the pricing on three of its UK-domiciled OEIC index funds. The range of six Irish-domiciled ICAV funds cover the US, Europe, Japan, Pacific ex-Japan, developed global and emerging markets. Fees start at 0.06 per cent for the S&P 500 fund, increasing to 0.20 […]