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....7bn bid for wholesaler Booker is too generous. Schroders fund manager Nick Kirrage told the BBC's Today programme that Tesco was paying a "premium" and he had "major concerns" about the deal. ... [Read full article on BBC ]
Monday 27th of March 2017 06:47:15 PM
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....Separately, one of Tesco's biggest shareholders has warned that the retailer is paying too much for its planned takeover of wholesaler Booker. Schroders fund manager Nick Kirrage told the BBC that Tesco was paying a "premium" and he had "major concerns" about the deal. ... [Read full article on BBC ]
Tuesday 28th of March 2017 08:21:08 AM
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....On Saturday morning, a coachload of local workers, bullhorns in hand, took to Greenwich’s windy lanes for a protest organized by union-backed local community groups and billed as the “Lifestyles of the Rich & Shameless” bus tour. Chanting “El pueblo unido / Jamás será vencido” (“The people united / Will never be defeated”) and “Hey hey, ho ho, tax loopholes have got to to”, a couple of dozen protesters, gently shepherded by local police, left giant “tax bills” totaling close to $3bn for some of the world’s richest hedge fund managers. ... [Read full article on Guardian ]
Monday 27th of March 2017 10:00:04 AM
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....Tesco needs a majority of shareholders to vote in favour of the deal at a meeting, so the opposition of two significant investors is a setback for the company. Schroders, one of the City’s best-known fund managers, said in its letter to Allan that the price Tesco was paying for Booker would make creating value for shareholders “extremely challenging”. ... [Read full article on Guardian ]
Monday 27th of March 2017 06:04:28 PM
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....There are honourable exceptions, of course, but do not expect a revolution if the government legislates to make all votes on pay binding. Most fund managers prefer symbolic revolts to the real thing. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 07:27:45 PM
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.... Nothing beats it – but you can only spend the money on buying a home, and must never have owned a home before. You can open an Isa with a whole range of financial institutions – banks, building societies, fund managers and so on. ... [Read full article on Guardian ]
Saturday 25th of March 2017 07:00:03 AM
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Latest Finance News related to Fund Manager

Plumbing firm Wolseley leads FTSE higher image
Source : BBC [Read Article] Tuesday 28th of March 2017 08:21:08 AM
....Separately, one of Tesco's biggest shareholders has warned that the retailer is paying too much for its planned takeover of wholesaler Booker. Schroders fund manager Nick Kirrage told the BBC that Tesco was paying a "premium" and he had "major concerns" about the deal. ...
Tesco warned over cost of £3.7bn Booker takeover image
Source : BBC [Read Article] Monday 27th of March 2017 06:47:15 PM
....7bn bid for wholesaler Booker is too generous. Schroders fund manager Nick Kirrage told the BBC's Today programme that Tesco was paying a "premium" and he had "major concerns" about the deal. ...
Two Tesco shareholders oppose £3.7bn takeover of wholesaler Booker image
Source : Guardian [Read Article] Monday 27th of March 2017 06:04:28 PM
....Tesco needs a majority of shareholders to vote in favour of the deal at a meeting, so the opposition of two significant investors is a setback for the company. Schroders, one of the City’s best-known fund managers, said in its letter to Allan that the price Tesco was paying for Booker would make creating value for shareholders “extremely challenging”. ...
Protesters target Connecticut's uber wealthy with 'tax bills' in bid to end loophole image
....On Saturday morning, a coachload of local workers, bullhorns in hand, took to Greenwich’s windy lanes for a protest organized by union-backed local community groups and billed as the “Lifestyles of the Rich & Shameless” bus tour. Chanting “El pueblo unido / Jamás será vencido” (“The people united / Will never be defeated”) and “Hey hey, ho ho, tax loopholes have got to to”, a couple of dozen protesters, gently shepherded by local police, left giant “tax bills” totaling close to $3bn for some of the world’s richest hedge fund managers. ...
Is an Isa the best home for your nest egg? image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:03 AM
What next for Next? Decline, if it comes, should still be profitable | Nils Pratley image
....There are honourable exceptions, of course, but do not expect a revolution if the government legislates to make all votes on pay binding. Most fund managers prefer symbolic revolts to the real thing. ...
Unilever is safe, but we need better defences against short-term capitalism image
.... She needs to understand that if even well-run companies like Unilever can be seen as vulnerable, the takeover game has changed. Debt is cheap, fund managers are judged on quarterly performance and 3G’s style of short-termism is fashionable and formidable. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
.... The risk (to the stock market) is that almost everything on Wall Street is priced for a positive outcome. The good news is that despite the FTSE 100 hitting new records, a lot of fund managers regard it as cheap or fair value, and certainly not excessively priced like Wall Street. ...
George Osborne is laughing at us as he takes his Evening Standard job | Aditya Chakrabortty image
.... This recruitment blows that idea out of the water. How will the London Evening Standard scrutinise a government when it’s run by a man who less than a year ago was its de facto number two – and who remains an MP for the ruling party? In the financial capital of the world, how much credibility will the Standard’s City pages command when their ultimate editor is in the pay of a giant fund manager? And how is journalism ever going to become an industry that represents its audience if one of its plum jobs can be lobbed by the son of a Russian oligarch into the lap of a public schoolboy who has never subbed, reported or edited?. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
....Cuanalo said his investors were largely unaware of students concerns, but conceded that rents could not continue to be raised every year. This week Collegiate held a golf tournament near Cannesto promote the profitability of student accommodation to global fund managers who descend on the resort town every spring to scope out future investments. ...
Top executives may be brilliant – but their pay's about timing and luck image
.... Extending holding periods, and similar fiddles, can reduce the problem but the structure remains a mathematical nonsense. That is one reason why a few enlightened fund managers would be happy to abolish Ltips altogether and accept that executives’ basic salaries might increase as a result. ...
Forget the fuss – bumper paydays go on for UK's best-paid boss Sorrell | Nils Pratley image
.... He has run rings around the pay police. Star fund manager David Cumming’s departure from Standard Life – announced on Wednesday while the chancellor’s budget was still being digested – looks very odd. ...
The UK economy breaks more records – for all the wrong reasons image
Source : Guardian [Read Article] Thursday 9th of March 2017 06:40:24 PM
.... It notes that the budget changes announced by Hammond pale into insignificance when set against those introduced by George Osborne before he was sacked by Theresa May. The former chancellor – now picking up £650,000 a year for four days work a month at the fund manager BlackRock – pushed through benefit cuts that will mean some families will be £7,000 a year worse off than they would have been otherwise. ...
Osborne to earn £650,000 a year advising US financial firm image
Source : BBC [Read Article] Wednesday 8th of March 2017 08:31:00 PM
. Former Chancellor George Osborne is to be paid £650,000 a year for advising the US fund manager Blackrock. ...
Standard Life's David Cumming to leave firm after 18 years image
Source : Guardian [Read Article] Wednesday 8th of March 2017 03:26:10 PM
. Standard Life has announced the departure of one its highest profile fund managers just days after it revealed an £11bn tie-up with Aberdeen Asset Management. ...
Girl statue faces Wall Street bull to fight gender inequality image
Source : BBC [Read Article] Wednesday 8th of March 2017 12:01:19 PM
....A statue of a young girl has been placed in front of Wall Street's iconic bull, to call attention to gender inequality and the pay gap in the corporate world. The statue was commissioned by one of the world's largest fund managers. ...
Standard Life's Aberdeen deal means job losses – but avoids US takeover image
....An all-Scottish deal at least makes the wider politics easy. There will be job losses but it must be better for Scotland that Aberdeen is not consumed by a US firm and instead becomes part of one that will be Europe’s second largest fund manager. ...
Gina Miller urges FCA investigation into fund management 'price fixing' image
.... It has called for more transparency and an end to hidden fund charges and mis-selling in the City of London’s asset management industry. Miller, who runs SCM Capital with her hedge fund manager husband Alan, said the vast majority of funds sold to small investors charge an annual management fee of 0. ...
Standard Life and Aberdeen seek to tie in key staff in £11bn merger image
Source : Guardian [Read Article] Monday 6th of March 2017 08:06:34 AM
....Standard Life and Aberdeen Asset Management are to offer lucrative lock-ins to key staff to stop them walking out following their £11bn deal to create a fund management powerhouse. The deal to create Britain’s biggest fund manager with £660bn under management has sparked fears that key staff will quit and that hundreds of jobs will be cut in the enlarged businesses as it seeks to cut £200m a year in costs. ...
Aberdeen Asset Management and Standard Life confirm merger terms image
....Fund managers Aberdeen Asset Management and Standard Life have agreed terms for an all-share merger. The move will create one of the UK's largest fund managers, overseeing assets worth £660bn. ...
Standard Life  and Aberdeen Asset Management confirm merger talks image
Source : Guardian [Read Article] Sunday 5th of March 2017 05:57:06 PM
....Hundreds of jobs could be cut if an £11bn merger of two of Scotland’s biggest companies – Standard Life and Aberdeen Asset Management – goes ahead. Talks between the companies about a merger were revealed at the weekend and a tie-up could be confirmed as soon as Monday, creating the second biggest fund manager in Europe and the largest in the UK. ...
Big returns image
Source : BBC [Read Article] Sunday 5th of March 2017 01:39:06 AM
....In fact, if you had chosen well you could now have over £22,000. The figures come from a study by Hargreaves Lansdown, which tracked the performance of 30 equity income fund managers over the 10-year period from December 2006 to December 2016. ...
Standard Life and Aberdeen in talks image
Source : BBC [Read Article] Saturday 4th of March 2017 05:42:59 PM
....It follows a report on Sky News that the companies were exploring an £11bn merger. The move would create one of the UK's largest fund managers, overseeing assets worth £660bn. ...
ITV shouldn't get away with blaming Brexit for falling revenues | Nils Pratley image
....Meanwhile, flotation prospectuses, which detail the company’s financial history and directors’ records, are often published only after the shares have started trading. This is ludicrous, as is the idea that only sophisticated fund managers can be trusted with an early glance during the “investor education” period. ...
Barclays: triple the profits, but still a work in progress | Nils Pratley image
Source : Guardian [Read Article] Friday 24th of February 2017 07:09:13 AM
.... It was an unloved sprawl of international operations and Hester’s self-help decluttering programme was too young to be trusted. City fund managers would have flogged RSA, the folk behind More Than, in an instant. ...
Humbled Unilever aims to show shareholders it values their loyalty image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 07:36:53 PM
.... Unilever is conceding, in effect, that it cannot take its shareholders’ loyalty for granted. Polman was probably told as much by a few powerful fund managers who do not share his love of long-term perspectives. ...
Avoid sky-high costs and charges to get the most out of your investments image
Source : Daily Express [Read Article] Wednesday 22nd of February 2017 12:01:00 AM
. If you are not careful, fund managers can make more money from your pensions, unit trusts and equity Isas than you ever do. ...
Losing banking jobs to EU 'threatens financial stability across Europe' image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:00:11 PM
....Douglas Flint, the chairman of HSBC, Britain’s biggest bank, said common regulation needed to be agreed with the remaining 27 EU members once Brexit talks got under way or there was a risk of sparking turbulence in the financial system. “One of the critical pieces is the ecosystem that exists, which effectively connects the fund managers to the risk managers to the liquidity providers to the insurance providers and the credit providers … it all benefits from all the other pieces being there,” Flint said. ...
Unilever to mount fierce defence against Kraft Heinz after rejecting £115bn offer image
....Before its merger with Heinz in 2015, Kraft came under fire in the UK for its conduct during the prolonged battle to take over Cadbury, which was later included in the Mondelez snacks business that the US firm spun off in 2012. Steve Clayton, fund manager at Hargreaves Lansdown, said Kraft would have to table a much higher bid to succeed. ...
A stock market crash is a way off, but this boom will turn to bust | Larry Elliott image
....Keynes provided the best explanation for this kind of herd behaviour, noting that markets can remain irrational longer than investors can stay solvent. A fund manager might think stocks are already richly valued but if everybody else is buying then the temptation is to swallow any doubts and do likewise. ...
Calling the latest Greek deal a sticking plaster does disrespect to the Elastoplast image
....This is what happened to Thomas Cook on Thursday, when Standard Life Investments, which owns a 13% stake in the holiday company, made clear its frustrations with the proposed pay rise for boss Peter Fankhauser. The Edinburgh-based fund manager not only voted against a number of the resolutions on pay but also against the re-election to the board of the non-executive directors who sit on the remuneration committee. ...
Sub-prime cars: are car loans driving us towards the next financial crash? image
Source : Guardian [Read Article] Friday 10th of February 2017 03:29:36 PM
.... Per head, the British are buying more new cars than any other large country in Europe. Car financing in the UK is a “flashing light”, according to Andrew Evans, a fund manager at investment firm Schroders. ...
GSK needs no medicine despite talk of poor performance image
Source : Guardian [Read Article] Wednesday 8th of February 2017 07:49:04 PM
....In its sharpest form, the theory runs that GSK would be better broken up into its constituent parts – pharmaceuticals, consumer healthcare and vaccines, plus the ViiV joint venture in HIV therapies. Lauded fund manager Neil Woodford once described GSK as being four FTSE 100 companies bolted together. ...
Savers warned: Here are the 10 big ISA mistakes to AVOID ahead of deadline  image
Source : Daily Express [Read Article] Wednesday 8th of February 2017 05:57:00 PM
.... Likewise no-one ever lost money taking a profit. "The best fund managers recognise their mistakes quickly and get out, they also sell their successes once they think the investment has become expensive, even though the share price might continue to rise. ...
Church of England: we'll vote to block excessive boardroom pay deals image
Source : Guardian [Read Article] Tuesday 7th of February 2017 05:31:51 PM
....It is joining the chorus of voices expressing concern about executive pay in a year in which large numbers of companies are putting their bonus deals to a binding vote – rather than an advisory one – at their AGMs. “We voted against two-thirds of remuneration reports that were proposed last year,” said Adam Matthews, head of engagement for the Church Commissioners – an investment fund manager that is a member of the Church Investors Group – and Church of England Pensions Board. ...
Paris steps up drive to woo London bankers uprooted by Brexit image
Source : Guardian [Read Article] Monday 6th of February 2017 04:04:18 PM
....Paris is targeting the “tens of thousands” of bankers its hopes will be driven out of London by Brexit, dangling the promise of tax breaks and flexible redundancy rules to complement the French capital’s cultural charms. In one of the most aggressive marketing initiatives yet, a delegation of political and business leaders from France met representatives of about 80 banks and fund managers for a summit on Monday on the 37th floor of the Shard in central London. ...
Is it time to grab a bigger share of the stock market? image
Source : Daily Express [Read Article] Sunday 5th of February 2017 12:01:00 AM
.... Private investors should spread their risk by taking out an investment fund run by a leading manager or a low-cost tracker fund. Terry Smith, who runs Fundsmith Equity, is currently the UK’s most popular fund manager, according to research from AJ Bell. ...
UK home to 80% of top-earning European bankers image
Source : Guardian [Read Article] Thursday 2nd of February 2017 11:00:28 AM
. More than 4,000 City-based bank workers were paid more than €1m (£850,000) in 2015 – including one fund manager who received nearly €34m. ...
Leading investor signals it may oppose City bosses' pay rises image
Source : Guardian [Read Article] Wednesday 1st of February 2017 12:02:54 PM
....With Imperial Brands having to abandon a resolution before its annual general meeting on Wednesday that would have led to a multimillion-pound a pay rise for its chief executive, Alison Cooper, major City investors appear ready to block huge renumeration deals during this year’s AGM season. Euan Stirling, head of stewardship at the Edinburgh-based fund manager, said: “The remuneration committee will have to be very persuasive, that all other things being equal, the chief executive should be paid more. ...
Has Vodafone finally got the right Idea in India? image
Source : Guardian [Read Article] Monday 30th of January 2017 07:07:50 PM
.... But we should probably get over such squeamishness. If it is OK for the former chancellor George Osborne to earn £200,000 a year advising the fund manager BlackRock while remaining an MP, McDermott’s move barely merits a footnote. ...
Booker Tesco deal has hedge funds in a funk image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
....From this week, we might start to see if shareholders and regulators agree, as documents are made available and the process of addressing possible competition concerns begins. There may be another process gathering some pace this week, too – that of a few hedge fund managers desperately trying to justify why they thought it was clever to bet on a fall in Tesco’s shares, just as news of the deal prompted a 10% increase. ...
Strong dollar drags US growth to slowest pace since 2011 image
Source : Guardian [Read Article] Friday 27th of January 2017 02:15:35 PM
.... because the temporary spike in soybean exports boosted the third quarter and subtracted from the fourth quarter,” he said. Ian Kernohan, economist at fund manager Royal London Asset Management, said growth could reach 3% this year if Trump delivers his promised stimulus measures. ...
Tobacco giant Imperial Brands rethinks CEO's pay rise after revolt image
Source : Guardian [Read Article] Thursday 26th of January 2017 10:31:52 AM
.... The government has since published a consultation which appears to backtrack on installing workers on boards to rein in excessive bonuses. Last week, Blackrock, the world’s biggest fund manager which recently recruited George Osborne as an adviser, signalled that it was taking a higher profile stance on executive pay. ...
Supreme court rules parliament must have vote to trigger article 50 image
Source : Guardian [Read Article] Tuesday 24th of January 2017 10:12:29 AM
....He said enacting the decision would now be a political and not legal matter and the Brexit secretary, David Davis, would be making a statement to the Commons later on Tuesday. Gina Miller, the investment fund manager who was one of the lead claimants in the challenge, welcomed the ruling, saying: “No prime minister, no government can expect to be unanswerable or unchallenged. ...
Is the City of London going to hell in a Brexit handcart? image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:41:32 PM
.... And, if a large continental bank were to run against the general chatter and order a sizeable chunk of office space in London, that would be very significant. It is a poor state of affairs that so many fund managers, especially in the US, can’t be bothered to think for themselves and instead rely on third parties to advise them on how to vote at companies’ annual meetings. ...
Can a $26m-a-year fund manager really rethink executive pay? image
Source : Guardian [Read Article] Tuesday 17th of January 2017 07:00:32 AM
....Among the 3,000 politicians, business leaders, economists and celebrities attending this year’s World Economic Forum in Davos will be a 64-year-old with receding hair and rimless glasses. The academic demeanour of Larry Fink belies his role running BlackRock, an outfit he founded 30 years ago and which has become the biggest fund manager on the planet, overseeing $5. ...
Rolls-Royce’s SFO settlement is big, ugly and serious image
Source : Guardian [Read Article] Monday 16th of January 2017 07:24:51 PM
.... But has Cooper threatened to quit? Has any executive? And why does Haines think Imperial employs nobody capable of filling her or other executives’ shoes? Answers to these questions would be more useful than Haines’ pious bleat about how he is “sympathetic” – just not in Imperial’s case – to concerns about pay increases which do not reflect performance. City fund managers, even once-shy BlackRock, tell us they want to clamp down on “benchmarking” awards for bosses already earning many millions. ...
World's largest fund manager demands cuts to executive pay and bonuses image
Source : Guardian [Read Article] Sunday 15th of January 2017 01:39:14 PM
....BlackRock is demanding cuts to director pension entitlements and an end to huge pay rises as UK companies prepare to put their latest pay deals to shareholders. In a letter to the bosses of more than 300 UK companies, the US fund manager said it would only approve salary rises for top executives if firms increase workers’ wages by a similar amount. ...
Top fund manager likens Trump market rally to dotcom bubble image
Source : Guardian [Read Article] Thursday 12th of January 2017 06:20:12 PM
. Britain’s best known fund manager has likened the current stock market euphoria to the dotcom bubble, even as the FTSE 100 closed at yet another record high. ...
Xi Jinping to become the first Chinese president to attend WEF in Davos image
Source : Guardian [Read Article] Wednesday 11th of January 2017 05:05:51 PM
.... Trump will not attend Davos, which starts just three days before his inauguration. The president-elect will be represented at Davos by Anthony Scaramucci, a multi-millionaire hedge fund manager and member of Trump’s presidential transition team. ...
Corbyn’s wage cap plan labelled unworkable but keeps pay on agenda image
Source : Guardian [Read Article] Tuesday 10th of January 2017 08:05:41 PM
....The fund management industry – which gets a vote on executive pay – has also been considering ways to tackle ballooning boardroom remuneration. Leon Kamhi, head of responsibility at fund managers Hermes, said remuneration committees at individual companies should set out a maximum possible pay for their chief executives. ...
Mike Ashley criticises shareholders of Sports Direct over Keith Hellawell image
....Mike Ashley has criticised Sports Direct shareholders who refused to back the re-election of Keith Hellawell as chairman and publicly questioned the company’s corporate governance. The founder and chief executive of Sports Direct said supportive comments about the retailer and Hellawell from the hedge fund manager Crispin Odey were “highly significant at a time when others have been less forthcoming”. ...
Blackrock becomes biggest Lloyds bank shareholder image
Source : Guardian [Read Article] Sunday 8th of January 2017 03:40:57 PM
....The major US investment firm Blackrock has become the biggest shareholder in Lloyds Banking Group, usurping the government, which is selling down its stake in the bailed-out bank. Blackrock, which describes itself as the world’s biggest fund manager with $5. ...
Brexit wasn’t a ‘Michael Fish moment’: but economics does need to change image
.... Whose frustrations? Outside investors’ or his? It wasn’t clear, but one option for the review is to abandon the idea of appointing an independent figure to lead it. Review arrangements are under discussion with the Investor Forum, representing City fund managers, and dialogue was described as “constructive” before Christmas. ...
The key to good customer service? Just do it image
Source : Guardian [Read Article] Saturday 7th of January 2017 07:00:12 AM
.... There was no ticker showing the share price. In the 1990s the rotten concept of “shareholder value” took hold of fund manager-led capitalism, demanding that a company’s sole purpose is to extract maximum value (ie profit) for shareholders. ...
Sports Direct chairman Keith Hellawell rejected by shareholders again image
Source : Guardian [Read Article] Thursday 5th of January 2017 01:06:49 PM
....”. The additional statements prompted an immediate reaction from Aberdeen Asset Management, the City fund manager which has been among Ashley’s more vocal critics. ...
Pound SURGES as Britain's manufacturing jumps to 30-month high image
Source : Daily Express [Read Article] Tuesday 3rd of January 2017 04:15:00 PM
...."As Britain's economy continues to boom, the pound could strengthen further against the euro, according to experts. More than half of economists, strategists and fund managers polled by Hargeaves Lansdown believe sterling will rise above 1. ...
FTSE 100 soars to new closing high image
Source : Guardian [Read Article] Wednesday 28th of December 2016 07:35:58 PM
....Some investors are also bracing for fresh volatility in 2017, with a Trump presidency and the triggering of formal Brexit negotiations likely to rock markets next year. A survey of top City economists and fund managers found that 40% expect the pound to be languishing below $1. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
....Four former Barclays bankers were sentenced to between 33 months and six-and-a-half years in jail for conspiring to rig global benchmark interest rates. Just before Christmas, former BlackRock fund manager Mark Lyttleton was jailed for a year after pleading guilty to insider dealing through a Panamanian company in the name of his wife. ...
Business in 2016 image
Source : BBC [Read Article] Saturday 24th of December 2016 02:43:56 AM
Sky investors should think in the long term and reject Murdoch's deal image
Source : Guardian [Read Article] Thursday 15th of December 2016 07:45:24 PM
....A revolution is happening in Dundee. Grand old investment business Alliance Trust plans to sell its in-house manager and appoint eight outside fund managers instead, to be overseen by investment consultants Willis Towers Watson. ...
Sky and 21st Century Fox agree £18.5bn takeover deal image
Source : BBC [Read Article] Thursday 15th of December 2016 01:31:38 PM
....A number of Sky shareholders, including Standard Life Investments and Jupiter Asset Management, have questioned the independence of the non-executive directors and their ability to extract a higher price since a possible bid was announced last Friday. Richard Marwood, senior fund manager at Royal London Asset Management, owner of a 0. ...
Rupert Murdoch confirms £11.7bn Sky bid image
Source : Guardian [Read Article] Thursday 15th of December 2016 12:45:00 PM
....The committee, which unanimously accepted the deal, included the Sky chief executive, Jeremy Darroch, and the finance chief, Andrew Griffith, who are in line for a £40m payday if the deal goes through. “We would urge the independent committee of Sky directors, who recommended that shareholders accept the offer, to share more information on the independent financial advice that they based their agreement on,” said Richard Marwood, senior fund manager at Royal London Asset Management, which controls £62m of Sky shares. ...
FCA considers £1m compensation limit to increase protection for pensioners image
Source : Guardian [Read Article] Wednesday 14th of December 2016 01:29:36 PM
....The regulator has unveiled a wide-ranging review of the way the financial services compensation scheme (FSCS) works, and has set out a number of ideas for changing the way it is funded and the protection it offers. The FSCS is the official safety net for customers of banks, insurers, fund managers and other financial firms that go out of business, and has paid out more than £26bn to more than 4. ...
Urgent Brexit deal needed to avert banking job losses, peers to warn image
Source : Guardian [Read Article] Tuesday 13th of December 2016 06:06:17 PM
.... However, other ministers, such as the Brexit secretary, David Davis, have said they are more relaxed about the issue. “Passporting” rules currently allow UK-registered financial services firms to sell their products and services throughout the EU without needing to set up a local subsidiary, as well as allowing European banks and fund managers to work freely in London. ...
Italian banking crisis: UniCredit to raise €13bn image
Source : Guardian [Read Article] Tuesday 13th of December 2016 08:11:03 AM
....The bank said 14,000 posts, or 11% of the workforce, would disappear across its businesses in Europe and 1,000 bank branches in Italy would close. About €18bn of bad loans are to be offloaded to two new businesses mainly owned by US fund managers. ...
UniCredit shares soar on plan to raise billions image
Source : BBC [Read Article] Tuesday 13th of December 2016 07:33:10 AM
....". The former Societe Generale executive has sold assets including fund manager Pioneer and Polish unit Bank Pekao since joining five months ago. ...
Sky bid puts independent directors under pressure image
Source : BBC [Read Article] Monday 12th of December 2016 08:32:21 AM
....5p. Alastair Gunn, a fund manager at Jupiter Asset Management, said this weekend that the Fox approach "ought to be the start of the process, not the conclusion". ...
Top Sky executives stand to make £40m in Murdoch buyout image
Source : Guardian [Read Article] Sunday 11th of December 2016 05:30:20 PM
.... The deal would give Fox control of a pay-TV network spanning 22m households in Britain, Ireland, Austria, Germany and Italy. City fund managers Royal London and Jupiter Asset Management have spoken out about the terms of the offer and expressed their disappointment at Sky’s independent directors for not pushing for a higher price. ...
Donald Trump has a handy scapegoat when economic clouds appear image
Source : Guardian [Read Article] Sunday 11th of December 2016 07:00:21 AM
.... In the post-Brexit world, Europe’s financial centre might have had reason to hope for an easier ride from its regulators as it battles to prevent financial business moving to the US or Europe. Bailey’s swipe last month at fund managers – just one of many financial industries now at risk – and their “sustained, high profits” showed that he is not yet ready to listen to special pleading. ...
City regulator to crack down on crowdfunding image
Source : Guardian [Read Article] Friday 9th of December 2016 08:53:42 AM
....The FCA’s action on crowdfunding is the latest in a series of interventions by the regulator since Bailey took over as chief executive in July. It has proposed measures to increase competition between fund managers, tougher regulation of high-cost consumer credit, and a clampdown on the spread-betting industry. ...

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