Investment uncovered: How to pick a multi-asset fund
Three fund selectors explain what makes a choice investment for those seeking diversification
Axa IM to cut 200 jobs in restructure
More than 200 jobs could go at Axa Investment Managers as part of a restructure that could save the firm €100m (£87.6m). The company says in a statement it plans to bring in a new operating model that could see up to 40 jobs cut in the UK and 160 in France. Axa IM chief […]
Disparities in fund sectors criticised in study
An analysis of the two most popular Investment Association mixed asset sectors has revealed wide variation in asset allocation that could have implications for advice suitability. Risk profiler Dynamic Planner researched the IA 20-60 per cent Shares and IA 40-85 per cent Shares sectors, assessing both asset mix, volatility and performance. Cash holdings in the […]
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Morningstar downgrades Woodford’s equity income fund
In a new blow for Neil Woodford, Morningstar has downgraded his signature £6bn equity income fund from silver to bronze following concerns about its positioning. Morningstar senior research analyst Peter Brunt says that “extreme positioning” in less-liquid parts of the market have made the fund “less nimble” than others. He says: “While Neil Woodford is […]
Old Mutual confirms plans to sell up to 10% of shares
Old Mutual has confirmed that is approaching the FCA and London Stock Exchange to pursue its listing after receiving shareholder approval. The firm, which is in the process of rebranding to Quilter, says it plans to move forward with an offer of up to 9.6 per cent of ordinary shares through listing. It is targeting […]
Investors pour £4bn into new ESG ETFs
Eight exchange-traded funds that prioritise environmental and social targets entered the market in May alone, according to the London Stock Exchange, driving record levels of flows into ESG strategies. LSE says 2018 has been a record year for passive funds prioritising socially and sustainable companies. A total of 31 ESG ETFs holding £3.97bn in assets […]
Zurich platform loses £20bn assets after Scottish Widows deal
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 […]
Brewin profits jump as new advisers targeted
Discretionary fund manager Brewin Dolphin has recorded another £38m in profits for the first half of the year, despite a drop in assets under management. The DFM blames “lower investment returns” for a slight fall in total assets from £40.1bn to £39.7bn. However, profits were up 20 per cent, as net inflows from advisers reached £900m […]
LGIM readies for Brexit with Dublin base approval
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 […]
Advisers set to boost investment in ESG strategies
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 […]
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Adviser satisfaction with DFMs falls
Adviser satisfaction ratings with discretionary fund managers have dropped in the latest index from Defaqto. The consultancy asked advisers to rate discretionary fund managers across 14 categories in relation to their importance. The survey showed that investment flexibility was most important for advisers, in terms of range of assets and range of options. Quality of […]
Fund pickers cut Aberdeen Standard Investments from portfolios
Fund selectors are reassessing or excluding Aberdeen Standard Investments funds in their portfolios, as questions remain around how the investment teams will pan out post-merger. Standard Life and Aberdeen Asset Management completed their £11bn mega-merger in August. At that time there were around 168 funds from the groups in the Investment Association sectors to be […]