Private bank Arbuthnot Lathan and one of the UK’s largest financial advisory firms, Brewin Dolphin, have snapped up parts of wealth manager Duncan Lawrie as its parent company, Camellia, departs the private banking industry.
Aberdeen Asset Management has reported £32.8bn ($40.9bn, €38.6bn) in net outflows for the year to 30 September 2016 after negative economic and political news “weighed on investor sentiment”, according to chief executive Martin Gilbert.
McKinsey & Co cited five trends that they expect will cause a “once-in-a-generation shift in competitive dynamics”, completely shaking up the asset management industry.
Fund managers in Singapore saw a 9% increase in assets under management to S$2.6trn ($1.90 trn, £1.4trn, €1.6trn) in 2015, much slower than the 30% recorded the year before.
Technology is disrupting the asset management industry but offers many opportunities in the process, according to Dominic Traynor, head of digital at M&G Investments.
Europe’s share of the world economy may be declining steadily, but there is at least one area where the continent is growing in importance: asset management revenues. Global asset management companies are deriving an ever growing share of their revenue from Europe, at the expense of the United States.
If the UK leaves the European single market following the Brexit vote, the country risks losing its financial passporting rights.
Chin-up, dear investor. Brexit has not necessarily been the disaster for the FTSE as was predicted, and could actually be a great opportunity for UK-facing active managers.
The continued prevalence of star fund manager culture within the asset management industry has been called into question in a new report by fund data provider FE.
Eastspring Investments has announced a distribution agreement with Vontobel to offer funds in Taiwan, giving the asset manager access to retail investors in the key financial hotspot.
Bookmaker William Hill cut its odds for Britain to vote to remain in the EU to 1/5 yesterday, implying a probability of just 15% that Brexit will occur. Nevertheless, fund managers remain seriously worried it might well happen.
Downward pressure on the renminbi and A-share volatility are prompting China’s investors to diversify their assets, said David Leung, head of wealth management at Standard Chartered Bank in China.
