US alternative investment firm Farallon is looking to invest in Sesame parent Misys and is undertaking due diligence, Money Marketing understands.California-based external management consultant Paulette Thomas is conducting analysis of Misys and its value potential. Investor Ashish Pant is heading the initial analysis for Farallon, which has $12bn under management. In April, Misys abandoned plans to sell Sesame after failing to agree a sale price with buyers. It has a share price of 179.50p, having fallen by 5p after sales talks ended. Sesame says it is not aware of discussions at Misys board level and it is unaware of any interest by Farallon or any other private investor. The level of investment under consideration is unknown and the future of Sesame remains uncertain although Misys has made it clear that it is not core to its business model. Thomas says: “I know Farallon are interested in Misys and have asked me to find out more about the company but I do not know any more than that.” Sesame head of strategic propositions and commercial development Alastair Conway says: “We are not aware of anything at this level.” Farallon declined to comment.
Poor Axa Framlington. Imagine the horror of its PR agency Polhilll when it had to phone up every journalist that had been invited to its World Cup party at the winter wonderland that is Ice Space that is was cancelled. The event promised to be an affair to remember – a combination of ice sculpture, […]
Standard Life Investments is developing its closed-end fund business with the appointment of Gordon Humphries as head of investment companies. Humphries, who is expected to join the firm this summer, was head of invest ment trusts at F&C Asset Management. Working with head of UK Institutional Business George Walker, Humphries will assume responsibility for leading […]
Brokers are failing to use the internet properly and are losing business as a result, according to BM Solutions. A survey by the lender found that only 53 per cent of the brokers surveyed in its research had a company website while 52 per cent get no new business through the internet. Less than 6 […]
You may be pleased to know that the World Cup has not been delayed. Imagine if Fifa announced that due to countries disagreeing about the quality of the pitches, it had been decided that the World Cup would be pushed back to 2007. It would cause worldwide outrage.
By Josh Ausden, Head of Client Investment Strategy, Neptune Short-term yen strength has hurt the Neptune Japan Opportunities Fund but recent events have only added weight to our conviction that the Bank of Japan will act to ease policy, boosting multinationals’ profits and weakening the yen. In recent weeks the performance of the Japanese stockmarket […]
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A High Court judge says the FCA can submit evidence in a case that could shape how Sipp misselling claims are handled in the future. In the case, which started today, lorry driver Russell Adams alleges Carey Pensions missold him a self-invested personal pension. Carey Pensions is accused of using unregulated introducers to invest Adams’s […]
Studies have found funds can be too big or too small to outperform, suggesting size does matter The assessment of whether to invest in a certain fund is a tricky business. Bearing in mind roughly 90 per cent of active funds do not beat their benchmarks over periods longer than 10 years, the odds are […]
The following sorry verse embodies procrastination on a whole new level: “Hello there, my name’s Phil; I rap like a small bear writing a will [diligently]; Estate-planning, ninja-whooping IHT; Shame I’m not as bizzie [urban affectation] with the RLP.” These words were penned in response to my father’s short verse sent to me, after the […]