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

China trust suspended after manager goes AWOL

Trading in the £66 million ARC Capital fund, which counts Rathbones among its shareholders, has been suspended amid a breakdown in communication between its investment manager and board.

Virgin Money completes payment for Northern Rock

HM Treasury also received £150m of Tier 1 capital notes, essentially taking a share in the company, on completion of the deal. Virgin Money is now purchasing these notes back from the Government at the appreciated value of £154.5m.

Qataris could make renewed bid for Sainsbury’s

The Qatar Investment Authority in November 2007 walked away from its £10.6bn or 600p a share bid, saying credit markets had made raising funds too expensive.

French Bank CDC Offers Samurai Bonds

Samurai issuance in 2014 so far is ¥1.66 trillion, not far short of the issuance for the whole of 2013, according to Dealogic. That is the highest on a year-to-date basis since 2008.

Advisers remain critical of Aegon despite trail commission U-turn

Advisers remain critical of Aegon despite the provider having backtracked on its policy of removing adviser trail.

Omni Partners obtains licence under AIFMD

Citibank International has been appointed as independent depositary, complying with the requirements of the Directive.

Horlick taken to task online over new fundraising

The firm raised £137,500 through Seedrs last summer to pay for the start-up costs of the business.

Alliance Trust launches two new sustainable investment funds

The two products bring the number of the full range of risk-profiled funds available to five.

ICE pumps $15 million into benchmark business

According to company filings, ICE Benchmark Administration received $13.5 million in funding from parent company ICE in 2013 and has received an additional $2.2 million so far this year.

JPMAM to close five fixed maturity bond funds

JP Morgan Asset Management is to close five of its Luxembourg-domiciled fixed maturity bond funds, citing changes in the market. The funds covered the emerging market debt and high-yield bond spaces and will close on 19 September after their liquidation

RBC Global Asset Management Announces Changes to Four International and Global Equity Funds

RBC GAM-UK specializes in global, European and emerging market equities, as well as global and emerging markets fixed income.

ABN AMRO in clearing contract for Van Breda bank

Bank J. Van Breda & C° has chosen ABN AMRO Clearing as its general clearing counterparty for over-the-counter derivatives transactions.

Capita Financial Managers (Ireland) granted AIFM licence

The licence authorises Capita to take regulatory responsibility for the funds to which it acts as AIFM.

Canary Wharf spreads east with new towers and 3,000 homes planned

Wood Wharf project gets green light in financial hub’s first major expansion since 2008

BNP Paribas awarded EUR 180 billion mandate from Generali

As part of this mandate, BNP Paribas Securities Services will provide global custody services for Generali’s EUR 130 billion portfolio of direct insurance assets held in Europe.

Gottex reports positive performance for alternative and multi-asset product lines

Alternative asset management group Gottex Fund Management has reported combined client assets of USD8.5 billion as at 30 June 2014.

Funds of hedge funds profit from new improved look

Bright-eyed and bushy-tailed from the Nineties into the Noughties, the fund of hedge funds industry emerged from the financial crisis in a bedraggled state.

Dutch pension funds failing to clarify asset management costs, AFM warns

The AFM, together with regulator De Nederlandsche Bank, recently conducted a survey of the annual reports of more than 50 pension funds and concluded that determining exactly how costs related to risk and return was “hardly possible”.

Large houses bow out as new fund groups emerge

Market volatility in the past 12 months, means the 2014 100 Club list throws up some new faces in the group categories.

Braveheart Investment Group reports £807,000 loss

The Perth-based investment company said £822,950 of the losses booked for the year are attributed to its disposal of loss-making corporate finance arm, Envestors, which was offloaded to management last December.

Alternative Investments