Company news

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Hargreaves profits grow 12%

Hargreaves Lansdown saw its profit before tax grow 12 per cent to £146.9m in the six months ending 31 December 2017, as it reports increased new business and client numbers. In a results statement published today, Hargreaves reported a 43 per cent increase in net new business from £2.34bn for the six-month period ending 31 […]

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Alliance Trust banks £21m from sale of Liontrust shares

Investment firm Alliance Trust has sold more than four million shares in Liontrust Asset Management for around £21m. According to a stock exchange announcement, the 4,060,792 shares were sold for 520p per share. They represent around 8.2 per cent of Liontrust’s entire issued share capital. When the sale of Alliance Trust Investments to Liontrust completed […]

Boutique asset manager wins back £200 million flows after managers exit

Boutique asset manager Miton Group has recouped the nearly £200m lost from its equity funds seen 2016, when it lost two star fund managers to a rival. For 2017, the group saw £494m net inflows, up from just £1m inflows seen in 2016. Equity funds in particular saw inflows of £361m, while multi-asset strategies gathered […]

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Capita replaced as Prudential’s pension administrator

Capita has been replaced as the pensions administrator of M&G Prudential after an open market tender. The administration of more than four million life and pensions contracts at M&G Prudential will move from Capita to Diligenta, the FCA-regulated subsidiary of Tata Consultancy Services on 31 July. According to documents published a decade ago, the value […]

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JP Morgan hires trio of specialists for ETF push

JP Morgan Asset Management has hired three ETF distribution and product specialists as it continues its push into passive investments in Europe. The firm has appointed Olivier Paquier as head of continental Europe ETF distribution. Paquier held similar roles at State Street Global Advisors and Amundi. To lead the distribution in Switzerland the company has […]

Bellpenny set to ditch branding following Ascot Lloyd merger

Advice firm consolidator Bellpenny is set to ditch its branding following its merger with Ascot Lloyd last year. Money Marketing understands the new identity will be under the Ascot Lloyd brand, despite initial claims last year that both companies and Bellpenny’s independent advice arm, BIA Financial Planning, would keep their own branding. The company would not […]

Standard Life and Aberdeen announce investment management committee

Standard Life and Aberdeen Asset Management have announced the investment management committee for the combined investment management business with Rod Paris, chief investment officer, appointed as chair. The announcement follows shareholder approval for the proposed merger on 19 June. Members of the IMC will be hold “broad leadership responsibility for asset classes” with the role […]