- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Hargreaves benefits from NS&I rate cut

NS&I will reduce rates on its products from November 24, with those on its easy access ‘direct saver’ account falling from 1 per cent to 0.15 per cent (gross/AER).

Nordic PE firm hits €6bn hard-close target in under six months

All of the fund raising for the company's latest offering took place without any physical meetings.

River and Mercantile profits hit on performance wipeout

River and Mercantile’s (R&M) pre-tax profits dropped nearly 37% to £13.9m from £20.9m last year, with performance fees falling 90%.

Canada Life reopens property fund

Canada Life’s property fund is an authorised contractual scheme, rather than an open-ended fund, so is not subject to the same regulations as most property portfolios.

Europe’s Banks Get Serious About Work From Home After Pandemic

In Italy, UniCredit SpA plans to have 40% of work done remotely after the crisis, while Switzerland’s UBS Group AG estimates that employees could work from home about a third of the time.

Four 'positive change' themes EQ Investors is pushing fund managers for climate action and health among key areas

It found that out of the 57 fund managers it had engaged, 11% had improved the fund's impact management process, while 56% of said they had discussed climate change initiatives and identified areas for improvement.

Private equity has prospects for longer-term sustainable investing, says Guy Hands

Guy Hands told a webinar hosted by Guernsey Finance, staged as part of Climate Week NYC 2020, that he believed that longer-life funds and long-term investment would grow in popularity.

European investors’ appetite for alternatives tipped to keep growing

To mitigate the impact, many managers of multi-asset funds have widened their exposure to alternative assets in order to maintain diversification.

ESG no longer an optional ‘add-on’ for asset managers, finds Russell Investments study

The survey, conducted by the firm’s manager-research team, finds that asset managers are increasing the extent to which they incorporate ESG-specific considerations into their investment activities.

Investment firm shut down after promising 16% returns

Clients were promised returns on their investments of between 7 and 16.9 per cent and told their funds would be processed through a security trustee.

Curtis Banks acquisition of Talbot and Muir to complete this month

Recently acquired Dunstan Thomas

Muzinich targets short duration IG credit with first Swiss domiciled fund

PMG Fonds Management is the fund management company.

BNY Mellon IM broadens fixed income beta fund range

Trio of Dublin-domiciled strategies are designed to capitalise on inefficiencies in the bond market.

Silex launches fund with ex-Oddo convertibles head

The newly launched fun will be managed by Xavier Hoche.

Fidelity bolsters platform with Cavendish Online acquisition

They will see no immediate changes to their costs, as Fidelity pledged to retain their current platform charges for at least 12 months from the transaction date.

The Hartford to sell Navigators’ European business

Premia said it is focused on acquiring and reinsuring legacy portfolios.

Risk of debt shortage seen shaking German bonds out of slumber

Uncertainty over the November US election and a resurgence of the coronavirus should spur haven buying of bunds, adding downward pressure on yields, according to Citi.

Monte Paschi’s Shareholders Approve Its Sale of Soured Debt

The bank’s total legal risk of about 10 billion euros is a major hurdle to the sale of the 68% stake owned by Rome.

Proparco backs Kenyan bank with $100m

Proparco, a French Development Finance Institution, has granted $100m loan to Equity Group Holdings, which will allow the Kenyan bank to grow and continue its support to the private sector.

Aberdeen seeks new steam age with innovation fund launch

The company said the mandate would invest outside the obvious candidates of tech.

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