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

Skandia sets out WealthSelect re-reg policy after adviser concerns

Skandia has set out how assets can be re-registered away from its WealthSelect range of discounted funds.

BlackRock’s Euro assets liquidity fund reaches €1 billion milestone

Financial institutions and corporations use money market funds to manage their cash as they offer stability, daily liquidity and diversification benefits.

Skandia unveils offshore bond-wrapped structured products

Skandia International is offering Investec autocall structured products in an offshore wrapper.

CACEIS wins fund admin mandate for new ABN Amro ETFs

Dutch state-owned bank ABN Amro has picked CACEIS to provide fund administration to a pair of newly launched exchange-traded funds (ETFs).

Ex-Hermes director calls for data on fees

David Pitt-Watson, a former director at Hermes Fund Managers who is now a fellow of the London Business School, has launched a campaign against high asset management charges.

Fee cap plan raises threat of litigation

The government’s proposal to cap pension fund fees at 0.75% of savings risks future litigation, the head of defined contribution at JP Morgan Asset Management warned at the National Association of Pension Funds’ conference last week.

Investors Capital Amends Investment Management Agreement

Investors Capital Trust PLC Monday said it has agreed a reduction in the base management fee payable to F&C Investment Business Ltd, under the investment management agreement, and the removal of the performance fee.

Hargreaves Lansdown's latest rival opens for business

Competition for investors' money has stepped up a gear with the launch of Britain's latest "fund supermarket".

Malaysian conglomerate buys into London property firm

After taking over British luxury car dealer HR Own Plc, the local arm of Malaysian conglomerate Berjaya Group beefed up its investments in London with the acquisition of a stake in a real estate company.

BlackRock Asia head takes over Pacific equity fund

BlackRock’s head of Asian fundamental equities has assumed control of the group’s Pacific Equity fund following the departure of Rob Weatherston, it has emerged.

Paulson takes a punt on Spanish property bounce

Spain's benchmark stock index gained 27pc in the past year amid signs that the economy is recovering from two recessions.

BNP Paribas Securities Services launches Global intraday liquidity reporting

The service allows BNP Paribas to deliver customised reports on cash account balances globally, using its existing ‘NeoLink’ web portal for clients.

Legal & General Property buys £550m RBS portfolio from Telereal Trillium

Among its 55 buildings are the Coutts HQ on the Strand and a Grade II-listed, five-storey office in Mayfair occupied by NatWest

Bonus rules uncertainty reported as UCITS V draft unveiled

A requirement that managers of UCITS funds take at least 50% of their bonuses in the funds they oversee has created uncertainty in Europe’s asset management industry, though some say the matter has been overblown.

Aviva Hit With $221 Million Cost From Improper Hedge Fund Trades

The insurer, which today reported full-year results, said it found evidence last year of “improper allocation of trades” in fixed income by Aviva Investors from 2006 to 2012.

GSAM funds enter UK IMA sectors

Goldman Sachs Asset Management has announced that 47 of its Luxembourg domiciled Sicav Ucits are now within UK Investment Management Association sectors.

L&G profits boosted by LGIM and Cofunds inflows

Legal & General has posted a 10 per cent increase in pre-tax profit for 2013 from £1.03bn to £1.13bn, driven by £17bn net inflows across its investment arm and the Cofunds platform.

TA Associates sells stake in Jupiter Fund Management

The deal closes a chapter in Jupiter's history, with the exit of a shareholder that first bought in during 2007 to back a management buyout from former owner Commerzbank.

Scottish Mortgage trust cuts AMC after hitting £3bn AUM

The chairman of the Ballie Gifford-managed trust, said the decision to reduce the AMC to 0.3 per cent from 0.32 per cent from 1 April 2014 should improve long term returns for investors.

What does Woodford’s new venture mean for UK fund management?

As Neil Woodford’s new venture readies an income fund launch for May, industry insiders anticipate that the star manager could attract billions of pounds within months as rival managers lose out.

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