Zurich’s platform assets plunged to £8.7bn from £28.8bn in the last three months of 2017 following the sale of its workplace business to Scottish Widows, new figures show. Latest data from consultancy Fundscape found Zurich assets accounted for the majority of assets falling among platforms in the first quarter of the year. In April, Lloyds Banking […]
Legal and General Investment Management has received regulatory approval for its new business unit in Dublin as it plans to shift part of its operations in preparation for Brexit. In May 2017, the company, which manages nearly £1trn assets globally, announced it was planning to set up a company in Ireland to manage its Ucits […]
Nearly two thirds of advisers plan to allocate more money to environmental, social and governance strategies next year, a new survey finds. Out of 100 wealth managers and advisers polled, Royal London Asset Management found 65 per cent would allocate to ESG investments with 70 per cent of the total saying ESG elements are taken […]
Fund houses have been urged to ease investors’ concerns over anomalies discovered in risk ratings on popular funds. Since the implementation of European regulations such as Priips on 3 January, fund management companies have been updating the key information documents of their funds with new calculations on risk, volatility and performance. However, confusion continues on […]
A group of 27 investors is taking action against Liberty Sipp over allegations it was responsible for losses incurred from risky investments. Wixted & Co Solicitors has issued a case in the Circuit Commercial Court in Bristol against Liberty Sipp. The firm is also acting on behalf of investors in a claim against Berkeley Burke. […]
Overexposure to venture capital trusts and enterprise investment schemes could potentially put off buyers when advisers try to sell their businesses, chief executive of Capital and Trust Patrick Isaacs warns. Speaking yesterday at Money Marketing Interactive, Isaacs says advisers looking to sell their firms could hit problems if their clients are reliant on VCTs and […]
Sanlam UK has revealed ambitious plans to grow to 1,000 advisers over the next two years. Speaking at the Money Marketing Interactive conference yeasterday, Sanlam UK group chief executive Jonathan Polin said the wealth manager is also planning to invest directly into stocks and bonds in an attempt to cut costs. The vertically integrated firm currently […]
The belief advisers need newly created products to help clients meet their financial needs in later life is misguided as existing solutions just need to be used more effectively. That was the view of a panel at Money Marketing Interactive today who say more products could complicate rather than simplify life for advisers. Hybrid solutions […]
Veteran emerging market investor Mark Mobius is planning to raise $1bn (£730m) to set up an asset management firm in London. According to The Times, the 81-year old investor’s new firm will target companies in India, China and Latin America with a focus on environmental, social and governance themes. Mobius, a Money Marketing columnist, oversaw Franklin Templeton’s emerging […]
Another fund manager has left Standard Life Aberdeen to join a rival firm as the fund giant continues its restructuring post-merger. Imran Ahmad, an investment director and portfolio manager of the Emerging Market Debt Unconstrained fund, will join the multi-asset team at Investec Asset Management. Ahmad was in the emerging market debt specialists team at Standard […]
Quilter has seen a 38 per cent increase in total net flows from its financial planning business in the first quarter of the year, but warns of continued market uncertainties. In March, Old Mutual Wealth Management officially changed its name to Quilter ahead of plans to list and separate from Old Mutual. The wealth manager, which […]
The weaker markets at the start of the year caused nearly a 1 per cent drop in funds under management for Brooks MacDonald, according to a trading update. A quarterly update, published today, shows the AIM-listed firm saw discretionary funds under management drop to £11.6bn as of 31 March, a slight decrease of 0.7 per cent […]