As we enter year nine of the “great recovery”, there is talk about good economic numbers amid rising levels of political risk. But just how is the world so much riskier now than in periods around, say, the Cuban Missile Crisis or the remilitarisation of the Rhineland? Not all political risks are alike, nor do […]
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 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 […]
Fidelity Investments has reported profits of £3.8bn in 2017, even as investors pulled £34bn out of its equity funds. The investment group said operating income had jumped 54 per cent from 2016 in a year which saw global stock markets reach record highs. Fidelity said improved performance from its fund managers had helped boost […]
Money Marketing conference panel meets volatility debate head on
Uncertainty for investors has not ended with the start of the new year as all eyes turn to US President-elect Donald Trump and whether he will introduce fiscal reforms. The year is likely to see a change in macro dynamics both for growth and inflation, particularly in the US. Shifts in the geopolitical landscape caused by […]
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. […]
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”. […]
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 […]
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 […]
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 […]