People Moves
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AVI Japan Opportunity board member resigns
Thomson began with the company in 2018
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RBC’s Justin Jewell resurfaces at Ninety One
Jewell spent 15 years with RBC BlueBay before joining Ninety One
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AllianzGI UK wholesale head joins Artemis
Matthew Couzens joins Artemis as sales director for London
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AllianceBernstein hires UK retail distribution head from Goldman Sachs
Adam Peters was previously head of UK wealth distribution at GSAM
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Rathbones hires new director of strategic projects
Sarah Odds will be “an instrumental part of shaping and delivering [Rathbone’s] growth strategy”
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Stuart Parkinson becomes Stonehage Fleming CEO
Moves to Stonehage after five years with Lombard International Group
Product
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First Trust rolls out US equity buffer ETF
Aiming to preserve more capital during market shocks
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Lombard Odier Investment Managers launches global macro strategy
DOM Global Macro joined last April from Credit Suisse
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AJ Bell eliminates alternatives in 2025 strategic asset allocation
AJ Bell releases 2025 strategic asset allocation
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BlackRock expands European active ETF range
BlackRock launches active AI and factor ETFs
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Premier Miton EMs fund to use Sustainability Impact label
Managed by Fiona Manning and William Scholes
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Franklin Templeton launches US dividend ETF across Europe
ETF to track the Morningstar US Dividend Enhanced Select Index
Regulation
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Aegon to apply Sustainability Focus SDR label to two funds
Three of Aegon’s ethical funds will remain unlabelled with sustainable characteristics
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UK retail equity ownership the lowest in the G7 as abrdn urges action
abrdn has called on the government to address the UK’s risk culture and boost retail participation in financial markets
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FCA launches CCI retail disclosure consultation
AIC CEO Richard Stone says the new framework for CCIs, including investment trusts, ‘misses the mark’
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FCA consults on ‘PISCES’ private stockmarket
Chancellor proposed the idea at her Mansion House speech last month
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Pisces receives investment community support, but raises liquidity questions
Industry commentators weigh in on how the market will fit with current investing environment
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Kepler: Lack of clear framework for trust fee disclosure causes confusion for investors
25% of Kepler’s retail investor base plan to allocate more to investment trusts following the change in disclosure rules
Companies
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Natixis IM and Generali Investments merge to create £1.6trn asset manager
The deal, which is expected to close early next year, creates Europe’s second largest asset manager by AUM and largest by revenue
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Brooks Macdonald seeks LSE main market listing
Brooks first listed on the AIM in 2005, with the move to the main market expected to complete by the end of March
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IIMI urges launching boutiques to consider corporate structure
Susannah de Jager and Dani Hristova discuss the importance of choosing the right corporate structure when launching a boutique
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Reports: Amundi considers buying AllianzGI
Rumours regarding a tie-up have been in circulation for more than a month
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Lindsell Train IT’s NAV return slumps as LTL valuation falls
The trust’s double-digit discount remains “a concern” for the company’s board
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J. Safra Sarasin acquires MIV Asset Management
The company has purchased 100% of the med-tech specialist’s shares
Macro
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Core US inflation undershoots expectations in ‘relief’ to policymakers
Headline inflation rose to 2.9% in December
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Bank of England holds interest rates at 4.75%
Industry commentators turn their focus to the possible trajectory for interest rates in 2025
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Fed lowers expectations to two rate cuts in 2025
Federal Reserve lowered interest rates by 25 basis points at the latest FOMC meeting
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Inflation rises to 2.6% as fuel prices mount
The Consumer Price Index rose yet again in November as fuel costs increased, making an interest rate cut unlikely
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UK unemployment rates remains unchanged at 4.3%
Salaries excluding bonuses increased by 5.2% between August and October this year
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UK economy contracts 0.1% in October
Falling below expectations of a modest 0.1% increase, according to the ONS
Videos
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Interview with Mark Burridge, managing partner and fund manager at Baker Steel Capital Managers
Will miners be able to meet the historic demand forecasts critical for the green energy transition?
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Q&A with Randeep Somel, deputy fund manager at M&G Investments
How do the M&G Sustain team align their portfolios to the Paris Agreement?
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Portfolio insights: Video interview with Dale Nicholls
Fidelity International manager Dale Nicholls highlights earnings as a major focus for Chinese equity investors in 2024
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Portfolio insights: Video interview with Marcel Stotzel
Fidelity International manager on what he will be looking out for as we head into 2024
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Video: Marco Lenfers, Vontobel Asset Management on decarbonisation
Metrics in impact investing provide the yardsticks for change.
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Video: J. Safra Sarasin’s senior portfolio manager Jayadev Mishra on fixed income
The value of diversification and the case for global high yield