Asset manager ICG talks up prospects after Brexit vote July 21, 2016 Alternative asset manager Intermediate Capital Group has told shareholders it is “well placed to deal with” Brexit uncertainty. Chief executive Christophe Evain, who recently said Brexit the vote was “terrible” for London in an interview with CityAM, acknowledged that reduced levels of M&A activity are expected after the referendum, “resulting in a slower investment pace in the [...]
Manny leaves Man Group: Arsenal and Remain supporter heading for Pimco July 20, 2016 On 30 April, as Arsenal faced Norwich at the Emirates Stadium, fans staged a protest with some targeting long-serving (and highly-paid) manager Arsene Wenger. Man Group chief executive Emmanuel (Manny) Roman – who, it was today announced, is leaving for Pimco –may well have felt some sympathy for his fellow Frenchman. The Gunners supporter was, after all, [...]
Four European hidden gem stocks for your portfolio July 20, 2016 Europe's investment markets are wallowing in an unprecedented level of support from the European Central Bank (ECB). They are being cossetted by a massive €1.7 trillion QE programme, much of which is likely to find its way into stock markets and raise share prices. Negative interest rates are also encouraging banks to invest and the ECB [...]
UK shares and property worst hit as investor confidence plummets after Brexit vote July 20, 2016 Investor confidence has suffered a “substantial drop” since the EU referendum, a new report has found. Lloyds Bank said its investor sentiment index, launched in March 2013, has fallen to its lowest ever level, turning negative for the first time. It found investor confidence is increasingly negative in relation to asset classes exposed to the UK. Read more: [...]
Pokémon Go: Should you invest in Nintendo? Investors are set for share price slump, but longer term virtual reality games will prove a winner July 20, 2016 The craze for newly-released mobile game Pokémon Go has sent shares in co-owner Nintendo up 75 per cent. Pokémon Go has been downloaded over 15m times since it was released last week. It currently ranks as the fastest adopted game in history. So far, it’s available to play in the UK, US, Germany, Australia and New [...]
Closed-ended investment company assets reach record high despite “challenging” 2016 July 19, 2016 Total assets under management (AUM) in closed-end UK investment companies, including trusts, reached a record high of £141bn at the end of June, according to new figures. The Association of Investment Companies (AIC) today reported that nearly £5bn of assets were added to the total during June. As well as being up from £134bn in June 2015, the amount [...]
Arm Holdings is just the start of a great British asset sale July 18, 2016 The UK’s vote to leave the EU was seen by some Brexiteers as a chance to reclaim the country’s borders, draw up a new fortress UK, as well as make a protest vote against the rise in inequality after the financial crisis. But in the investment markets, the drawbridge has already been lowered. Thanks to [...]
Brexit bonus predicted for investors after sterling devaluation July 18, 2016 Sterling’s devaluation after Brexit is set to boost UK dividends by £4.3bn in 2016, according to new research. Two-fifths of dividends paid by UK-listed companies are declared in dollars or euros and, because the pound has fallen after the EU referendum result, these payments will be converted at a weaker exchange rate. Capita Asset Services’ [...]
City is “still slightly stunned” by “really bad news” of Brexit, says chief exec July 18, 2016 Brexit is “just really bad news”, the chief executive of Old Mutual Global Investors (OMGI) has said. Richard Buxton also denied there was any “doom-mongering” in the run-up to the vote – “because it is absolutely going to be horrible”. Read more: Old Mutual becomes the next company to wave away Brexit Defending Bank of [...]
UK stocks in a post-Brexit world – industrials, healthcare and biotech can still do well, despite the weakening pound July 15, 2016 The UK’s decision to vote Leave sent share prices tumbling, and the more domestically-focused FTSE 250 has been left worst off. Mark Martin, manager of the Neptune UK Mid Cap fund, explains the areas he’s still finding attractive – and the ones he’s avoiding On the Friday after Brexit, the FTSE 250 mid-cap index had [...]