Really interesting piece on Citywire Wealth Manager by Ninety One fund manager and Hargreaves Lansdown investor Ben Needham. https://lnkd.in/eaSU6aVF He believes HL was totally right to reject the ‘cheeky’ private equity approach earlier this month, pointing out that if the firm listed today, it would be at a higher price than it currently trades on. And just imagine if the PE exit strategy is to relist at a higher price at some point and, to rub salt in the wound, the US is chosen as the fashionable place for the relisting. Just imagine! #privateequity #UKstockmarket
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📢 Exciting new addition to the Citywire Wealth Manager editorial team! Sophie Downes has joined us as a reporter. You can find out what makes her tick here - https://lnkd.in/eUFuw_zG Here's some of Sophie's work since she joined us two weeks ago: https://lnkd.in/ebBNZEw8 https://lnkd.in/eCsBjXVw She has also managed to bag a couple of exclusives: https://lnkd.in/eN8vQNmW https://lnkd.in/edbHdq7t A cracking start!
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Massive breaking news in the investment trust world as Alliance and Witan forge stunning £5bn merger https://lnkd.in/gHtASQ-y
Alliance Trust and Witan to merge to create £5bn giant
citywire.com
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A little taster of what promises to be a fascinating conversation between the CEOs of two fund giants and sustainable pioneers.
To their great credit these two Chief Executives are open and honest about lessons they have learned. Citywire Take Two CEOs with Karin van Baardwijk of Robeco and Saker Nusseibeh of Federated Hermes will be published on Citywire this week. Karin van Baardwijk, Saker Nusseibeh CBE, Robeco, Federated Hermes
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I managed to grab 10mins with Brooks Macdonald CEO Andrew Shepherd and his successor in waiting Andrea Montague this morning. https://lnkd.in/e84ms6th Shepherd said when he took the job in May 2021, he gave himself three years to make his mark on a business he’s been with for over two decades. In his time as CEO, he has led Brooks through a pandemic and runaway inflation, while rewiring its digital platform and taking the painful decision to make redundancies at the end of last year. Now he believes the firm is good shape to hand the baton to Montague. ‘I’ve put my all into this and am pleased where we have got the business to today,’ he told me. Montague said she is excited to build on Shepherd’s work, believing the firm is now well placed to take advantage of what she views to be the ‘exponential’ opportunity in wealth management.
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The remarkable Timeline story continues. Four years after launching its model portfolio service, it has burst into the NextWealth table of top 10 MPS providers after adding another £3bn to its suite. https://lnkd.in/ernawcsG Heather Hopkins says if Timeline continues to grow at this rate, it could be in the top three by the first quarter of 2025. #Wealthmanagement
MPS upstart Timeline adds another £3bn in a year
citywire.com
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Really interesting chat with JM Finn CEO Hugo Bedford on why it's a great time to be recruiting investment managers and teams who feel lost in the consolidation sweeping through the sector. He also talks about how releasing equity to more junior members of staff was one of the secrets to keeping costs under tight control, helping the firm break its profit record at time when inflation was ripping through markets. https://lnkd.in/gaUhnzwr #wealthmanagement
JM Finn targets ‘disenfranchised’ wealth managers after record year
citywire.com
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Exclusive: Schroders value veteran Kevin Murphy is leaving after 24 years with the fund giant to join his brother, Dermot, at Ben Whitmore's new fund firm Brickwood Asset Management https://lnkd.in/ez48wfiY #Assetmanagement
Exclusive: Schroders’ Kevin Murphy joins brother at Whitmore’s new firm
citywire.com
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Scoop - Hargreaves Lansdown launches multi-asset index range with some help from BlackRock https://lnkd.in/evbdURZn The rise in popularity of index funds has become impossible ignore for one of the biggest champions of active fund management. #indexfunds #Assetmanagement #ETFS
Exclusive: Hargreaves Lansdown launches multi-asset index range with BlackRock
citywire.com
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Exclusive: Barry Norris has signed his first dedicated distribution team for Argonaut Capital Partners since buying out Standard Life Investments in 2016 to take control of the funds boutique. https://lnkd.in/gBrNzGfk The team is headed by former Odey partner James Kostoris, who is leaving Lancaster Investment Management five months after joining the hedge fund firm following the collapse of Odey AM. He is joined by ex-Jupiter sales veteran Roger Bartholomew and Andrew King, who spent two decades at Odey and was head of client services at the point of his exit last year. Assets in Norris’ European Absolute Return fund have shot up to near £200m on the back of exceptional performance over the last few years. With the fund now firmly on the radars of wealth managers and institutional investors, the new distribution team will be tasked to build on this momentum. #assetmanagement
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Indeed... it should be called "Doing an ARM": 1) Take a company private at a reasonable premium to a depressed public valuation 2) Wait a few years and flip it to a US trade buyer or US listing. By this time any political heat that could have come from selling off a valuable UK asset has been dampened by the abstraction of PE-ownership.