UK buyers choosing global funds over domestic
Morningstar Investment Management says UK buyers are flocking to global equity funds as regionally diversified exposure proves more alluring than the beleaguered domestic market.
Morningstar Investment Management says UK buyers are flocking to global equity funds as regionally diversified exposure proves more alluring than the beleaguered domestic market.
The assets Schroders manages of behalf of advisers’ clients has fallen by £3.1bn ($4.3bn, €3.5bn) in the first quarter of the year, according to its latest results.
Newell Palmer’s acquisition of IFA firm HIA International Financial Services means the firm now has £2.1bn (€2.4bn, $2.9bn) in funds under management, a figure that will likely grow as it plans to make further acquisitions throughout the year.
Woodford Patient Capital Trust’s holdings in companies in which its independent directors, including its chairwoman, hold senior positions has raised eyebrows with investors, as they highlight concerns about the board’s ability to act in shareholders’ best interests.
The UK government hauled in £5.2bn ($7.2bn, €5.9bn) of inheritance tax receipts during the 2017/18 tax year, a figure 8% higher than the previous year.
Advisers continue to favour Vanguard Lifestrategy for multi-asset exposure, despite concerns the range’s high duration leaves investors exposed to rising interest rates.
Seven Investment Management (7IM) has received approval from the Jersey Financial Services Commission (JFSC) to open an office on the island.
Columbia Threadneedle Investments is expanding its Luxembourg multi-asset offering with the launch of a fund that is designed to deliver equity-like returns of 4% above European inflation.
Tilney appoints a former Schroders chief financial officer to its board of directors, Aviva hires a head of global financial institutions and Brewin Dolphin makes several key changes to its Cardiff team.
Isle of Man-based life insurer RL360° grew its present value of new business premiums (PVNBP) by 5% in 2017, continuing the company’s record of year-on-year growth.
Aviva has been forced to issue another apology to advisers after they were wrongly sent a notification that the value of their clients’ portfolios had dropped by more than 10%.
Paradise Papers law firm Appleby has denied claims made by the BBC that Ukrainian gangsters used its offshore schemes to hide their ownership of London property.