Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
Norway’s sovereign wealth fund says it must prepare for ‘large fluctuations’ in its value October 8, 2019 Norway’s $1.1 trillion (£8.99bn) sovereign wealth fund must be prepared for “large fluctuations” in the value of its portfolio, its managers said. The world’s largest sovereign wealth fund will also consider investing in companies before they go public, said Norges Bank Investment Management (NBIM) in a report outlining the fund’s strategy for the next three [...]
Nutmeg widens losses as wealth manager targets new customers October 6, 2019 Nutmeg, the online wealth management firm, widened its losses by more than £6m last year as it invested in attracting new customers. Operating losses deepened from £12.3m to £18.6m despite an increase in turnover from £4.6m to £7.2m, as expenses expanded to £22.7m from £17m the previous year. Read more: Digital wealth manager Nutmeg targets [...]
RC Brown buys IP Group shares as Woodford offloads stake October 4, 2019 RC Brown has bought up shares being offloaded by Neil Woodford as the fund manager struggles with the crisis that has swept across his investment management firm. RC Brown’s MFM Primary Opportunities fund has purchased shares in intellectual property firm IP Group after Woodford shed his 20 per cent stake last month. Read more: Woodford [...]
UK fund outflows accelerate as cautious investors snub equities October 3, 2019 Savers took almost £1.7bn out of UK funds during August as continued political uncertainty dampened their appetite for risk. The new figures, published today by the Investment Association (IA) are the highest net outflows the sector has experienced since November last year. Read more: Notion Capital opens £125m fourth fund Equity funds took the biggest [...]
Five reasons why global cities are the ultimate investment super-trend October 3, 2019 | City Talk Cities are becoming more important than countries, with their success determined by innovation, efficiency and the clustering of industries. What does this mean for investors? The global economic focus is shifting from countries to cities. Cities are efficient and the economic output that can be derived from cities is much greater than from countries. Cities [...]
Woodford Patient Capital Trust accused of stretching rules on unquoted holdings October 2, 2019 The biggest holding in Neil Woodford’s Patient Capital Trust (WPCT) is listed on an obscure stock exchange where its shares have only been traded once since it listed in February, it has emerged. Investec analysts have questioned whether Rutherford Health should be treated as a listed holding by WPCT, given that its shares have only [...]
Some of world’s biggest asset managers ‘paying lip service’ to ESG October 2, 2019 There is a “significant discrepancy” between the pledges made by the world’s 50 largest asset managers on environmental, social and governance (ESG) and the action managers have actually taken on these issues, new research has found. Although the vast majority of the world’s 50 biggest asset managers – who manage a combined $50.6 trillion (£41.3 [...]
Islamic finance 101: Debunking the common myths October 1, 2019 Islamic finance is one of the fastest-growing sectors in the world, targeting a vast portion of the global population that has been largely underserved by the financial services industry. It’s thought that the Islamic finance industry will reach $3.8 trillion in assets globally by 2022, from $2.2 trillion in 2016. Traditionally, Islamic finance has focused [...]
Watchdog calls for clearer investor warnings in wake of Woodford saga September 30, 2019 The Financial Conduct Authority (FCA) will introduce tougher rules for funds that invest in hard-to-sell assets following the suspension of Neil Woodford’s flagship fund. In a policy statement published today, the financial regulator also said investors should be given better warnings about the risks they face if they want to be able to withdraw their [...]