Blackrock buys $875m stake in Authentic Brands August 12, 2019 Blackrock has bought an $875m (£727m) stake in Authentic Brands, making it the largest shareholder in the celebrity licensing company that owns brand rights to Marilyn Monroe and Muhammed Ali The acquisition of a controlling stake in Authentic Brands, which also owns Sports Illustrated and Juicy Couture, marks the first investment for Blackrock’s new private [...]
Profit surges at Arrow Global but assets under management shrink August 8, 2019 Arrow Global has reported a huge increase in pre-tax profit but a dip in assets under management, and the debt-purchase specialist has announced a £20m cost-cutting programme. The figures Profit before tax for the first half of the year surged 203.7 per cent to £32.5m, a significant increase on the £10.7m seen in the same [...]
Burford Capital attacks short sellers as shares plunge 40 per cent August 7, 2019 Burford Capital has accused short sellers of spooking investors as its share price entered freefall for the second day in a row this morning. Shares in the litigation finance company dropped 20 per cent yesterday, and have continued their plunge today. Read more: Burford Capital snipes back at critical analysts Burford Capital’s share price was [...]
Standard Life Aberdeen profits down despite asset increase August 7, 2019 Standard Life Aberdeen has seen a modest increase in assets under management and a slow in outflows but this has failed to stop its profits from dropping in the first half. The figures The asset manager reported adjusted pre-tax profits of £280m for the first half of the year, down from £311m for the same [...]
When the fund stops: Why times are tough for UK asset managers August 6, 2019 It’s been a difficult year for the UK investment industry, and things could get worse before they get better. Fallout from the Woodford saga and increasing fears of a no-deal Brexit are continuing to pummel asset managers as they try to stem ongoing outflows. And with regulatory pressure ramping up, they are facing questions not [...]
Janus Henderson struggles to shake client jitters as outflows pass $17bn July 31, 2019 Janus Henderson has posted its seventh consecutive quarter of outflows as the asset management firm’s woes continue. Read more: Janus Henderson outflows spark declining profits The London-headquartered company reported net withdrawals of $9.8bn (£8bn) in the three months to the end of June, taking its outflow for the half-year to more than $17bn – close [...]
Blackrock profit drop misses expectations July 19, 2019 Blackrock disappointed Wall Street expectations this afternoon after posting a worse-than-expected fall in quarterly profits. The world’s largest asset manager reported net income of $6.41 per share, or $1bn (£800m), falling from $6.62 per share in the same quarter last year and missing Refinitiv estimates of $6.50 per share. Read more: Outgoing RBS boss Ross [...]
River and Mercantile promotes deputy to chief executive June 24, 2019 Asset management and advisory group River and Mercantile has appointed deputy boss James Barham as chief executive. Barham will replace current chief executive Mike Faulkner who will step down to become the group’s head of macro strategies and innovation. Read more: Omnis Investments replaces Woodford with Jupiter Asset Management Faulkner was formerly the chief executive [...]
H20 shrugs off conflict of interest concerns June 21, 2019 H20, the UK-based asset management arm of Natixis bank, will continue to have a representative on the board of Tennor despite concerns about potential conflicts of interest. H20’s chief investment officer Vincent Chailley will replace chief executive Bruno Crastes on the board of the German firm “to ensure continued H20 representation”. Read more: Should we [...]
Tatton Asset Management shares jump as firm reveals two contract wins June 3, 2019 Shares in Tatton Asset Management jumped this morning after the firm reported boosted profit and revealed its investment arm has secured two new contracts. Tatton’s shares are up 5.88 per cent after the company announced that adjusted operating profit was up 12.3 per cent to £7.3m in the financial year to the end of March, [...]