View more on these topics

F&C set for flotation in Europe

Public shares in F&C could soon be available after parent Eureko said it was considering seeking a stock exchange listing for the fund firm which is one of the UK&#39s oldest.

Eureko, the Amsterdam-registered financial services group, will look to retain a majority shareholding following an initial public offering, which it says will have no impact on F&C&#39s position as its main asset management firm. The move has the full backing of F&C&#39s senior management and is likely to go ahead around the middle of this year although Eureko says it could be later in the year. It would not comment on its hopes for the flotation.

There is no firm decision on which country will see the listing but it will be in Europe, where Eureko has focused the business since it bought the firm for £460m in March 2001. It has since looked to integrate Eureko&#39s local asset management activities in the Netherlands, Ireland and Portugal. It also has a presence in Germany and France but the majority of F&C&#39s investment management and support operations are based in London.

F&C has around £64bn of assets under management and employs more than 400 staff. In the year to December 31, 2003, it had revenues of around £140m, with two-thirds coming from continental Europe.

Chief executive Robert Jenkins says: “A listed subsidiary is a model which has worked well for other asset managers and is one which should help us take further advantage of opportunities to develop the business further for the benefit of clients, shareholders and employees.”

Eureko chairman and chief executive Gijsbert Swalef says: “Our philosophy has been to treat F&C as an autonomous business within the Eureko Group. A listing is a natural and logical next step and we continue to back F&C&#39s ambitions.”


Ready EDI

Over the years, an EDI message statement service has never been widely promoted by providers. Looking at this from an IFA&#39s perspective, it is perhaps easy to see why this has been kept quiet for so long. The quality of data from most providers is, at best, inconsistent and, at worst, consistently poor. I wonder […]

Abbey loan chief goes to Lighthouse

Lighthouse has poached the head of Abbey&#39s newly relaunched mortgage club, Mark Evans, to head its new mortgage offering Lighthouse Loans. Lighthouse&#39s move into the mortgage market will white-label Abbey&#39s The Mortgage Alliance as Lighthouse Loans. It plans to roll out the offering to its advisers first, 160 of whom are qualified mortgage brokers. It […]

MP wins debate to put the case for appeals against watchdog…

Nick Harvey, the Liberal Democrat MP fighting to save his local IFA&#39s business, has won the right to an adjournment debate on retrospective appeals against the Financial Ombudsman Service. He will chair a discussion between MPs on retrospective appeals against the FOS with particular reference to IFAs. Harvey raised the issue to highlight the plight […]

Ritchie warning on A-Day delays

Scottish Equitable pensions development director Stewart Ritchie has described the Chancellor&#39s referral of the lifetime pension limit to the National Audit Office as bizarre but says advisers must still start planning for A-Day. Even though the final pension simplification rules will not be revealed until Budget day on March 17, Ritchie says advisers must start […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm