Coronavirus squeezes mutual funds causing record fund outflows April 6, 2020 The coronavirus-induced market slump caused record fund outflows last month, with fixed income funds particularly badly hit. Investors redeemed a record £3.1bn of their fund holdings in March, according to global funds network Calastone. It represents almost three times the outflows recorded in the previous worst month in June 2016 when the UK voted to [...]
City Moves for 31 March – Who’s switching jobs at Quantuma, Medica and FRP? March 31, 2020 Today’s City Moves includes Quantuma, Medica and FRP Quantuma Business advisory firm Quantuma has announced the appointment of Philippa Robinson as a director in its corporate finance team. Philippa joins Quantuma after qualifying with KPMG to become a fellow of the Institute of Chartered Accountants in England and Wales. In her role at KPMG, she [...]
M&G’s flagship bond fund faces £100m daily outflows March 30, 2020 M&G’s flagship bond has become the latest casualty of the coronavirus-induced market sell-off, as investors pull £100m a day from the fund. Investors have pulled £2.5bn from M&G Optimal Income since mid-February, according to the Financial Times, as the coronavirus outbreak pushed investors towards the safety of cash. M&G, which is run by Richard Woolnough, [...]
Seven firms suspend UK property funds as virus casts uncertainty over assets March 18, 2020 Aberdeen Standard Investments and BMO have joined five other firms who have suspended their property funds after independent valuers introduced material valuation uncertainty clauses due to the coronavirus outbreak. The UK commercial property market is facing unprecedented challenges brought on by the pandemic. Valuation firms are now saying that they can no longer make reliable [...]
Aviva Investors suspends property funds as CBRE warns of market uncertainty March 18, 2020 Aviva Investors has suspended its property fund, following similar decisions by Kames Capital and Janus Henderson yesterday. In a statement, Aviva Investors said the coronavirus outbreak had impacted the UK property market and “made it difficult to value the property owned by the funds with the same degree of certainty as would otherwise be the [...]
Cushman & Wakefield enters UK’s flexible office market February 20, 2020 Commercial property agency Cushman & Wakefield has entered the UK’s growing co-working market with the launch of a new flexible workplace service. The service – named Indego – will offer landlords design and build, marketing, sales and on-site operations services under a management agreement with Cushman & Wakefield. The service was set up to offer [...]
Barings sells listed St James’s office building for £71m February 17, 2020 Real estate investment manager Barings has sold a Grade II listed office building in St James’s to a German property investor for £71m. Cara Real Estate, the property investment arm of Cara Investments, has acquired 7-10 Waterloo Place, in its second London deal following the purchase of 20 Soho Square for £117m in 2018. Barings [...]
Investors plan to plough billions into UK real estate February 4, 2020 Real estate investors are planning to invest billions of pounds into UK property this year, after the General Election offered some clarity on Britain’s departure from the EU. Investment in the UK’s property market had slowed following the vote to leave the EU more than three years ago. However, the recent Conservative election victory has [...]
Central London office take up jumps in fourth quarter January 20, 2020 Office take up in central London jumped in the final quarter of last year, as the diversity of businesses operating in the capital provided resilience for the city’s commercial property market. Take up increased four per cent to 3.6m sq ft in the three months to the end of December, above the 10-year quarterly average [...]
Central London property investment soars after General Election January 17, 2020 Investment in central London’s office market soared in December, after the result of the General Election sparked a flurry of deal activity. The £4.9bn invested in the fourth quarter of last year was a 125 per cent jump on the amount invested in the previous quarter and was on par with 2018. The Conservative general [...]