Europe

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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 […]

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Warning over misleading Priips document for investment trusts

Advisers must use common sense when selecting investment trusts through the new Priips’ Key Information Document as it could be misleading for investors. That is the view of analyst Numis Securities, which has published a report about the KID and investment trusts. Priips, which will apply to a wide range of firms including banks, insurers, […]

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Boutique asset managers take on London with $2.3bn merger

Geneva-based Quaero Capital is to merge with specialist boutique Tiburon Partners creating a business which will run $2.3bn (£1.7bn) assets under management. The deal, which needs FCA and Swiss Financial Market Supervisory Authority approval, will see Tiburon Partners running Quaero’s UK arm. In London, Quaero have only had a sales and limited research presence. Tiburon […]

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Doubts remain over asset manager preparedness for Mifid II

Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]

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Fidelity unveils details of new performance fee model

Fidelity International has published details on its “truly innovative” performance fee structure it recently announced in a major shake-up move. In October, Fidelity said it will introduce a fulcrum fee whereby the manager will charge a higher fee when it delivers outperformance net of fees, but will be lower if performance meets or is below […]

Woodford rejects OBR forecasts in Autumn Budget

Neil Woodford has rejected gloomy UK growth forecasts from the Office for Budget Responsibility revealed in yesterday’s budget, arguing the country is on track to achieve annual growth around 2 per cent. According to the OBR, growth this year will be 1.5 per cent, and fall to 1.4 per cent in 2018. Through 2019 and […]

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Gina Miller-led manager launches new Sipp as it reforms fees

SCM Direct has tweaked the fees on its digital offering in response to the upcoming Mifid II rules as it launches a new Sipp account. The company, headed by prominent anti-Brexit campaigner Gina Miller and her husband Alan, claims the changes to the platform will make it one of the cheapest digital wealth managers in […]

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Mifid II job vacancies grow fourfold in a year

Asset managers and brokers have been rushing to add Mifid II-related specialists over the past year, research shows. Data compiled by LinkedIn on behalf of the Financial Times, shows that 1,300 Mifid II-related jobs were advertised on the website at the end of October. LinkedIn said the number of Mifid II jobs advertised by asset […]

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Vanguard launches European ETF as it expands in Germany

Vanguard is offering a new ETF tackling European companies as it opens access to its funds in Germany. The Euro STOXX 50 Ucits ETF, which is listed on the London Exchange and Deutsche Boerse, will charge 0.10 per cent. The fund invests into the 50 largest multi-national European companies in the Eurozone and cover various […]

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Baillie Gifford cuts management fees on 20 funds

Baillie Gifford has slashed annual management charges by up to 10 basis points across its UK Oeics and Irish Ucits funds. Key changes include the Baillie Gifford European fund, reduced from 0.65 per cent to 0.55 per cent, and the Baillie Gifford Japanese fund down from 0.65 per cent to 0.60 per cent. The asset […]