As the monetary policies of the US, the UK and the Eurozone diverge, what should investors make of this fork in the road? September 13, 2016 Since the end of last week, speculation has been mounting that the US Federal Reserve will raise interest rates again this year. The probability of a September rate raise looks slimmer after the Fed’s most dovish official, Lael Brainard, struck a cautionary tone in a speech yesterday. But there is a strong chance that the next [...]
Buyers beware: Is the central bank credibility crunch point approaching? September 12, 2016 Market contrarians continue to close out their short positions on stocks, bonds and risk currencies as buying supports market levels, record low bond yields and emerging market assets. But can central banks continue to win the confidence game and herd investors into riskier trades, or will the credibility of Draghi, Kuroda, Carney and Yellen ultimately be [...]
HgCapital investment trust’s share price soars on rising revenue and earnings September 12, 2016 HgCapital Trust’s share price jumped five per cent today after reporting revenue and earnings growth. The figures The company, which gives investors exposure to private equity firm HgCapital's portfolio, reported revenue growth of 12 per cent in the first six months of the year. Earnings before interest, taxation, depreciation and amortisation (Ebitda), meanwhile, were up 22 [...]
Aberdeen Asset Management told to boost its minimum capital requirements September 12, 2016 Aberdeen Asset Management said today that it had been asked to up the minimum level of capital it holds for regulatory purposes by Britain's financial watchdog. The Financial Conducted Authority now wants the asset manager to increase its minimum financial cushion to about £475m, up from £435m previously. Analysts said this will not affect its capital adequacy "which [...]
Private equity body names industry veteran as new chairman September 7, 2016 LPEQ, a trade body for listed private equity firms, has named industry veteran Mark Florman as its new chairman. The former chief executive of the British Private Equity and Venture Capital Association (BVCA) started in his role this week. Read more: UK private equity firm makes Star investment in German IT company Florman told City [...]
How the Brexit vote is scaring investors away from traditional asset classes September 7, 2016 The UK’s Brexit vote is putting investors off traditional asset classes, new research suggests. Some 13 per cent of active investors said they have steered clear of currency markets since the EU referendum, while 10 per cent have pulled away from government bonds and nine per cent have been discouraged from investing in equities. Read [...]
Omnis benefits from Woodford’s expertise and attracts large inflows in 2016 September 7, 2016 While some retail funds struggle to stem the tide of outflows, Omnis has bucked the trend thanks to investment icon Neil Woodford. Omnis’ UK equity fund, which is managed by the former Invesco Perpetual grandee, attracted more than £100m in its first six months having launched in March 2016. “The partnership with Woodford Investment Management is [...]
Hargreaves Lansdown chief prepares to depart as firm reports Brexit boost September 7, 2016 Market volatility driven by the EU referendum helped boost trading volume for Hargreaves Lansdown during the year to 30 June, the broker said today as it unveiled a bumper set of results. Separately, the company announced this morning that chief executive Ian Gorham will step down no later than 30 September next year. Chief financial officer [...]
From auto-bid tools to cross-border transactions, here’s what you should expect from the alt fi sector September 7, 2016 The European alternative finance sector grew by 92 per cent to €5.4bn (£4.5bn) in 2015, according to Judge Business School’s latest report on the subject, Sustaining Momentum. Excluding the UK, that’s 10 per cent slower than in 2014, but shows, say the report’s authors, expansion across almost all alternative finance models. This slowing growth rate is [...]
Emerging markets fund specialist Ashmore’s share price edges up after firm beats profit expectations September 6, 2016 Ashmore Group’s share price rose by one per cent yesterday after the emerging markets fund specialist beat profit expectations in its full-year results. The figures Assets under management (AUM) of $52.6bn (£39.4bn) were down from $58.9bn in the year ending 30 June 2015. Ashmore’s net revenue for the period came in at £232.5m, down 18 per cent. Read [...]