Wonks think a wave of asset management mergers is inevitable Investing Across the European continent, a surge of mergers and acquisitions among asset managers has begun. Yesterday, Italian and French giants Generali and Natixis agreed to a €1.9 trillion (£1.61 trillion) merger to create the second largest asset manager in Europe. Meanwhile, BNP Paribas recently bought out AXA’s investment arm, and rumours continue to swirl about [...]
Brooks Macdonald to move off AIM as firm eyes further growth Investing Brooks Macdonald is set to ditch AIM for the London Stock Exchange’s main market as the asset manager looks to enhance its profile and drive growth. In a trading update, the asset manager said that the move would enhance its “corporate profile,” as well as extend the “opportunity to own its ordinary shares to a [...]
Exclusive: Brooks Macdonald makes senior layoffs Investing Brooks Macdonald has laid off a number of senior staff, including the firm’s global head of distribution, in a bid to save costs, City AM can reveal. The redundancies from the asset manager were described by one former employee as “pretty brutal”, having occurred in the months before Christmas. The layoffs first seem to have [...]
Why these City firms will be the winners and losers of Rachel Reeves’s Budget October 28, 2024 Nervousness has gripped the City over the past month. A vacuum of fiscal policy has been filled by speculation and companies are scrambling to draw up plans ahead of a potentially punitive tax-raiding Budget from Keir Starmer and Rachel Reeves. Among the most gloomy warnings have been an inadvertent gutting of London’s junior AIM market [...]
Brooks Macdonald blames Budget speculation for poor performance October 16, 2024 Wealth manager Brooks Macdonald has blamed uncertainty around the upcoming Budget for investors pulling £100m from its business over the last three months. In a quarterly trading update today, the London-listed money manager revealed that investors had pulled a total of 0.7 per cent of their assets over the most recent quarter, thanks to a [...]
Brooks Macdonald buys financial advisor amid takeover rumours October 8, 2024 Brooks Macdonald has bought independent financial advisor LIFT in a deal worth up to £45m, as takeover rumours swirl around the group. LIFT has £1.6bn in assets under advice, with £600m of this being funds under management. The firm is headquartered in Greater Manchester, with offices in London and Edinburgh, and has around 1,400 clients, [...]
Brooks Macdonald pledges ‘simpler’ business as it offloads international arm for £50m September 12, 2024 Money manager Brooks Macdonald has said it would simplify its business and “reignite growth” as it offloaded its international arm to Canaccord Genuity for £50m. In its annual results for the year to June 2024, the London-listed wealth management outfit said its funds under management had risen seven per cent to £18bn despite shedding some [...]
RM Funds poaches Brooks Macdonald fund mandate September 5, 2024 RM Funds, best known for its shareholding in embattled investment trust Home REIT, has won the mandate for the £146.6m Brooks Macdonald Defensive Capital fund. The Defensive Capital fund, which will be renamed as the RM Defence Capital fund, was launched in 2010. It is built as an all-weather return fund with low volatility through [...]
Will private equity set its sights on AJ Bell, M&G or River Global after the Hargreaves Lansdown takeover? August 9, 2024 The takeover battle for Hargreaves Lansdown seemed to have finally reached a resolution this morning, and within hours of the details being announced, analysts were already speculating as to which London-listed asset manager could be next to fall to private equity. Ben Bathurst, analyst at RBC, said today that the planned investment by the private [...]
Brooks Macdonald faces continued outflows as takeover rumours swirl July 17, 2024 Brooks Macdonald investors pulled £154m from the asset manager over the last three months, despite analyst expectations of net inflows, as the company struggles with rumours of a potential takeover attempt.