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

Norway to refrain from fx buying for wealth fund in January

Last month the central bank said it would refrain from buying foreign exchange that would have enabled the fund to invest money in foreign stocks and bonds.

Russian, Chinese and Gulf state firms enter commodity trading to control pricing

Banks by and large are moving out of the trading of physical commodities

Hedge fund top brass pocket £317m

The accounts for 2012-13 show distributions to members were £317m

Bundesbank to Repatriate More Gold from New York and Paris

However, German media interpreted the measure as a sign of mistrust.

Singapore wealth fund GIC buys Broadgate stake

Wealth fund GIC becomes Britsh Land's new partner in City complex Broadgate with purchase of Blackstone stake

Apax Partners and Altamir have entered into an agreement with Chenavari Investment Managers

In addition to its credit institution operations, Buy Way has developed a credit card management business for third parties, in particular for KBC Bank.

Italy's Generali sells entire Pirelli stake

According to a filing on Monday by Italy's market watchdog, Generali reduced its stake, worth around 280 million euros ($380 million) at current market prices, to zero on December 16.

James Hay parent rejects takeover bid

In a stock exchange announcement today, IFG confirmed that “due to the highly conditional nature of this proposal” it will not be continuing talks with the bidder.

Buxton & Cowley team up for Old Mutual multi-asset range

This will be a unique product which will aim to capture many of the strengths of OMGI’s full team

Good year for Odey after fund turnover drives handsome profit

Odey Asset Management, the hedge fund managed by seasoned stock picker Crispin Odey, doubled profits last year after performance fees soared

Small is beautiful as Chinese investor unveils £10m plan for micro apartments

Miler is a a company set up by Hong Kong businessmen Dr Francis Liu and Man Wai Chan to deliver the scheme which will see the upper floors of the site converted into 163 G-Suite apartments.

Old Mutual to launch three multi-asset funds

Old Mutual Global Investors will launch a multi-asset range of funds in February next year.

BNP Paribas' Polish business halts preparation for share issue

The Polish unit of French bank BNP Paribas has suspended preparation for as share issue due to the French bank's plan to take over BGZ

Hiscox merges UK and Europe businesses

Move sees a raft of internal promotions including Steve Langan who will head up Hiscox UK and Europe

Braveheart Swings To Loss On Envestors Sale

Braveheart made a GBP845,000 pretax loss for the six months ended September 30, compared with a GBP67,000 pretax profit for the corresponding period the year prior.

Mercia launches third growth fund

Mercia Growth Fund 3 follows two previous funds which invested in medtech, gaming, telecoms and e-commerce sectors.

Gibraltar Gov’t approves plans for new ‘locally-owned’ community bank

The Gibraltar Government has approved plans for a new “credit institution” that is seen as filling a need in the marketplace that was made more urgent by Barclays' recent announcement of plans to reduce its Gibraltar presence.

Russian Bank Looks to Create New Digital Currency to Compete in Bitcoin Market

The growing number of major banks seeking to profit from the Bitcoin phenomenon is escalating around the world.

Bitcoin clones set to kill digital currency?

Citibank’s analyst believes that the market is likely to end up with a plethora of “bitcoin lookalikes with little to choose between them, so pricing becomes very difficult.

Deutsche, Harvest ready London RQFII ETF

Deutsche Asset & Wealth Management and Harvest Global Investments plan to list the exchange-traded fund in Europe, initially in London

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