Commodity-focused trusts top Q2 performers – QuotedData
The best performing UK trusts in the second quarter of 2016 were focused on commodities and natural resources, Vietnam and Latin America, according to investor research group QuotedData.
Regions
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Wealthy investors reducing UK exposure post Brexit
Most high net worth individuals are looking to reduce their exposure to UK-based assets in the wake of the country’s vote to leave the European Union, according to deVere Group.
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M&G and Aberdeen still in the doghouse
Tilney Bestinvest’s “Spot the Dog” report names M&G Investments as the firm with the highest number of assets in underperforming funds and Aberdeen Asset Management as the fund house with the most ‘dog funds’.
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Axa Insurance Ireland fined for adviser competency breaches
The Central Bank of Ireland has fined Axa Insurance €675,000 (£567,263, $747,860) for failing to ensure that staff members advising on retail products were appropriately supervised.
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UK reports record £5bn in IHT as Prudential spots advice ‘boom’
The British tax office has set a new record by raising nearly £5bn ($6.6bn, €5.9bn) in inheritance tax (IHT), according to the latest figures from HM Revenue and Customs (HMRC).
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Markets flat as Japan leaves helicopters grounded
Markets were largely flat on Friday as investors digested the news that Japan has decided not to launch the ‘helicopter money’ that some see as the answer to its economic struggles.
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Axa inks strategic partnership with ecommerce giant Alibaba
French insurer Axa has entered into a worldwide strategic partnership to distribute its insurance products and services through the global ecommerce ecosystem of China’s Alibaba.
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WisdomTree launches China S&P 500 ETF
WisdomTree has added another product to its arsenal by announcing the launch of a new exchange traded fund (ETF) giving investors access to all classes of Chinese equities.
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Personal wealth leaving China sees AIA’s business grow 60%
One of Asia’s largest insurer AIA has reported a whopping 60% growth in the value of new business from mainland China as regulators struggle to stem the flow of personal wealth leaving the country via Hong Kong’s offshore insurance industry.
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Aegon UK to quit writing annuities, passes clients to L&G
The UK arm of Dutch insurer Aegon is to stop writing new annuities from the fourth quarter of this year, and has agreed to pass clients seeking the product onto Legal & General.
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Henderson held back by property outflows
Henderson Global Investors said it saw significant Brexit-related outflows from European equities and property funds in its first half.
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Fed turns ‘mildly hawkish’ after holding rates
The US Federal Reserve’s decision to hold rates at 0.25-0.5% announced Wednesday surprised nobody, but the accompanying rhetoric suggested a more hawkish stance is emerging.