Money Marketing

US

Volatility fears take multi-asset fund sales to £1bn

High market volatility in February resulted in more retail investors using multi-asset fund managers and pushing net sales up to £1bn, new figures show. Data from the Investment Association tracking net retail fund sales in February show investors avoided both bond and equity funds with £235m and £136m outflows, respectively. In early February the US […]

London-based DFM investigated by US authorities

London-based fund firm Beaufort Securities has been charged with money laundering and securities fraud by the US Department of Justice, the FCA has revealed. In a statement this afternoon, the FCA said that it had been cooperating with the US agency over its investigations into six separate individuals. The indictment from the DOJ alleges that […]

Old Mutual raises $290m in US asset management listing

Old Mutual has raised $291m gross proceeds less underwriting costs from its listing of its US asset management arm. The group raised the $270.8m expected from the 13 million shares sold at $14.25, plus a further six million repurchased by Old Mutual Asset Management. A further 1.95 million shares were sold via the underwriters’ option to purchase additional shares. […]
1

Trump set to scrap planned US advice rules

Proposals that would change the way retirement products are sold in the US could be scrapped under the Trump administration. According to a Financial Times report, advisers to president-elect Donald Trump are considering stopping reforms that would see advisers who give retirement advice putting the client’s interest above their own according to a “fiduciary standard”. […]

World-Global-Plan-Strategy-Business-700x450.jpg

L&G forms trans-Atlantic insurance division

Legal & General has formed a new trans-Atlantic insurance division to bridge its UK and US offerings. Legal & General Insurance will be led by Bernie Hickman, who became L&G Home Finance chief executive and Individual Retirement managing director in 2014 and has held roles at the company including UK Protection managing director, group financial controller, and investor […]

US-Flag-USA-America-700x450.jpg

Clinton vs Trump: How should investors play the US election?

When billionaire businessman Donald Trump announced a run for the White House just over a year ago, the idea sounded fanciful. Last week, the New York Times poll of polls shows support for Trump at 42.5 per cent against Hillary Clinton’s 42.9 per cent. The UK markets have already faced a binary event with close […]

HSBC-700x450.jpg
1

HSBC execs charged in forex probe

Two HSBC foreign exchange traders have been charged with fraud after making $8m (£6m) in profits and fees by “front running” a $3.5bn foreign exchange trade for a UK listed oil and gas company. A statement from the US Department for Justice says UK citizens Mark Johnson, HSBC global head of forex cash trading, and […]