Smart beta assets hit record high
Assets invested in smart beta ETFs/ETPs listed globally hit a record $429bn (£330bn, €387bn) at the end of June, according to research and consultancy firm ETFGI.
Brexit
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LGIM’s profits slip despite rise in international assets
Legal & General Investment Management’s profit slipped by a marginal 3% to £171m in the first half of the year versus the same period in 2015.
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EU tax cases against HMRC to soar amid Brexit concerns
The number of people bringing cases against national tax authorities to the European Court of Justice (ECJ) could see a dramatic increase in the wake of the Brexit vote, says international law firm Pinsent Masons.
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Asset managers stick to European and Japanese equities
Asset managers have been too optimistic in their return forecasts for European and Japanese equities over the past 18 months or so. Despite having faced disappointing returns over the past year or so, they are not yet prepared to meaningfully lower their expectations.
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No Brexit shockwaves in China markets, HSBC GAM says
Brexit has not had an impact on China’s markets, and valuations are historically cheap, according HSBC Global Asset Management.
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Standard Life suspends property-linked life bond withdrawals
Customers with investments in Standard Life’s assurance bonds have been told they cannot access their money if any part – however small – of their funds are in ill-fated UK commercial property funds.
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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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Better-than-expected UK GDP provides solace but no insight
Preliminary UK growth figures for the second quarter have raised hopes slightly that the British economy was on a better footing heading into the EU Brexit referendum than had been expected.
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Volatile 2016 may not be all bad, investors need to be agile
Investors will have to be much more nimble with decisions due to political risks ahead, but Brexit hasn’t clouded the outlook, said Daniel Murray, chief economist and head of research of EFG Asset Management’s wealth management business.
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Brexit vote reignites debate over cuts to pensions tax relief
The UK’s decision to quit the European Union could lead to a raid on pensions tax relief, experts in the industry have warned.
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ANALYSIS: Are markets in the eye of the storm?
Humans have a remarkable capacity for adaption and the investment management sector is no different.
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Brexit could see 30% of older savers change retirement plans
Around a third of people in the UK approaching retirement are looking to change their financial plans as a result of the Brexit vote, research by UK insurer Prudential suggests.