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SGAM sale complete

Société Générale Asset Management (SGAM) has completed the sale of its asset management business to GLG Partners, the group announced this morning.

A press release says regulatory authorities have given approval for the sale of SGAM UK to GLG.

The deal was first announced in December and SGAM UK’s investment and support staff will now operate under GLG.

GLG says the acquisition will ensure the continuity of the funds and mandates previously delegated to SGAM UK.


Fed minutes reveal downbeat outlook

Yesterday’s publication of the minutes of the Federal Open Market Committee meeting held on March 17-18 reveals a downbeat short-term outlook for the American economy.As well as revising down its projections for real GDP growth in the second half of 2009 and 2010, most participants viewed downside risks as predominating in the short-term. The minutes […]

Standard Life looks to scrip dividends

Standard Life is asking shareholders to approve the replacement of their cash dividend payments with a scrip dividend.The scheme will mean that investors will receive ordinary shares in the company instead of the cash payouts they usually receive as part of the firm’s dividend reinvestment plan.If all eligible shareholders opt to receive a their final […]

Stick struck off list as Woolnough added

Hargreaves Lansdown has added Richard Woolnough’s M&G strategic bond to its Wealth 150 list and removed the Rathbone income fund, managed by Carl Stick.


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