AJ Bell to launch passive funds after buying investment firm
Platform provider AJ Bell is set to launch its own range of funds after agreeing to acquire a small London-based investment management business for an undisclosed sum.
M&A Deals
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Old Mutual’s Intrinsic reported to be in talks to buy Tenet
Old Mutual Wealth-owned adviser network Intrinsic is believed to have begun talks to buy Tenet, according to UK media reports.
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L&G consolidation continues with Suffolk Life sale
Legal & General has further rationalised its offering by announcing the sale of Sipp provider Suffolk Life to Curtis Banks Group. The move follows L&G’s recent decision to dispose of non-core businesses, which saw it withdraw from France, Ireland, and Egypt in 2015.
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Will multi-asset funds really deliver as markets head down?
Since Markowitz, multi-asset investing has been increasingly “en vogue”. The other trait that has caught the imagination – as well the attention of the regulators – is risk assessment.
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Medical insurer April targets Asian growth with acquisition
Private medical insurer April has moved to expand its operations across the Asian region with the purchase of GlobalHealth Asia, an international health insurance company based in Hong Kong, for an undisclosed amount.
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Aberdeen completes Parmenion deal
Aberdeen Asset Management’s acquisition of Parmenion Capital partners and its sister company, Self Directed Holdings, is now complete, the firm announced on Tuesday.
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JTC completes GAM Cayman fund business acquisition
Fund service provider JTC Group has completed its acquisition of GAM’s Cayman Island-based fund administration business.
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Beechwood acquires Old Mutual Bermuda
Beechwood Bermuda, a provider of international investment plans, has completed its acquisition of Old Mutual (Bermuda), which had insurance and investment products with over $1bn in assets.
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Julius Baer takes stake in Shanghai wealth manager
The Swiss-based private bank will purchase a $17.5m stake in Jupai, a US-listed Chinese wealth manager.
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MUFG acquires UBS AM’s Alternative Fund Services
MUFG Investor Services, the global asset servicing arm of Tokyo-based Mitsubishi UFJ Financial Group, has acquired UBS Asset Management’s Alternative Fund Services (AFS) for an undisclosed sum.
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Ashburton Investments acquires Atlantic Asset Management
South African investment firm Ashburton Investments will acquire 100% of Atlantic Asset Management, a boutique fixed income asset manager based in Cape Town, for an undisclosed sum.
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New European funds down and more consolidation expected
The European fund universe contracted during Q3 2015, with 646 funds liquidated or merged and only 453 new products launched, according to Lipper, a Thomson Reuters company.