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Aug 26, 2014

Brevan Howard co-founder Rokos takes on hedge fund again

LONDON, Aug 26 (Reuters) – Brevan Howard co-founder and star
trader Chris Rokos has again rejected curbs designed to prevent
him setting up a firm to rival the hedge fund he left in 2012,
court documents obtained by Reuters showed on Tuesday.

Rokos filed a lawsuit against Brevan Howard (Jersey) LP in
May to try and overturn an agreement that restricted him from
starting his own fund and raising money from investors until
2018.

Aug 22, 2014

Skandia shifts 640 million pounds to manager Woodford’s new firm from Invesco

LONDON (Reuters) – Star British fund manager Neil Woodford will get a 640 million pound boost for his new investment firm from asset manager Skandia, which is shifting money to him from Invesco Perpetual funds that he previously managed.

“Following the launch of the Woodford Investment Management Equity Income fund, we have decided to transfer assets … so that investors continue to benefit from the proven investment expertise of Neil Woodford,” Skandia said in a statement.

Aug 22, 2014

Skandia shifts $1 bln to manager Woodford’s new firm from Invesco

LONDON, Aug 22 (Reuters) – Star British fund manager Neil
Woodford will get a 640 million pound ($1.1 billion) boost for
his new investment firm from asset manager Skandia, which is
shifting money to him from Invesco Perpetual funds that he
previously managed.

“Following the launch of the Woodford Investment Management
Equity Income fund, we have decided to transfer assets … so
that investors continue to benefit from the proven investment
expertise of Neil Woodford,” Skandia said in a statement.

Aug 19, 2014

Carillion ups pressure on Balfour with new $3.5 billion offer

LONDON (Reuters) – British construction firm Carillion (CLLN.L: Quote, Profile, Research, Stock Buzz) ramped up the pressure on Balfour Beatty (BALF.L: Quote, Profile, Research, Stock Buzz) to reopen merger talks on Tuesday, making a third offer which valued the engineering company at 2.1 billion pounds ($3.5 billion).

Following talks with Balfour’s biggest shareholders, Carillion made its new approach two days before a takeover deadline expires that would force it to walk away.

Aug 13, 2014

Legal & General quits ABI insurance trade body

LONDON (Reuters) – Legal & General Group Plc will quit the Association of British Insurers (ABI) by the year-end, it said on Wednesday, dealing a blow to the trade body at a time of rapid regulatory changes in the UK financial services sector.

Legal & General’s decision follows changes in the mandate of the ABI as a result of the merger with the separate Investment Management Association trade body of the ABI’s Investment Affairs division, which includes its service advising members on how to vote at company meetings.

Aug 4, 2014

Hedge funds eye a profit from European bank research retreat

LONDON (Reuters) – As Europe’s big investment banks and brokerages scale back their research efforts, particularly towards small and mid-sized companies, some hedge funds and other specialist players spy an opportunity.

If the major players aren’t ferreting out investment ideas among Europe’s thousands of non blue-chip companies, figuring the effort is too costly and time-consuming at a time of cutbacks and rationalisation, other participants see a chance to capitalise on the resultant gap in the market.

Aug 4, 2014

Man Group inflows slow, profit margins narrow

LONDON (Reuters) – Hedge fund manager Man Group Plc reported a sharp fall in net inflows in the second quarter on Friday and its chief executive said he was cautious on the outlook for the rest of the year, attracting a mixed reaction from analysts.

The results came the day after a debt default by Argentina that has weighed heavily on shares of asset managers across the region. At 1454 GMT, Man Group and peers such as Ashmore Group, Jupiter Fund Management and Schroders were all trading down more than 2 percent.

Aug 1, 2014

Man Group shares retreat as inflows slow and margins narrow

LONDON (Reuters) – Hedge fund manager Man Group Plc reported a sharp fall in net inflows in the second quarter and its chief executive said on Friday he was cautious on the outlook for the rest of the year, sending its shares sharply lower.

Man, whose shares have collapsed to a fraction of their 2008 peak, has been restructuring to reduce dependence on the computer-driven AHL fund that took a heavy battering from the fallout from the financial crisis which began six years ago.

Jul 31, 2014

Schroders shares drop after first-half revenue lags

LONDON, July 31 (Reuters) – UK-listed fund manager Schroders
posted first-half revenue on Thursday that lagged
expectations, sending its shares lower even as assets under
management hit a record high.

The sector has had a weak earnings season so far, with
shares in Jupiter Fund Management and Aberdeen Asset
Management both falling sharply this week after their
results failed to live up to more positive market forecasts.

Jul 30, 2014

Jupiter Fund Management assets hit record 33.1 billion pounds in June quarter

LONDON (Reuters) – Jupiter Fund Management (JUP.L: Quote, Profile, Research) said funds under management (FuM) rose to a record 33.1 billion pounds in the June quarter, boosted by net inflows worth 1.3 billion pounds, mainly into its fixed income products.

The money manager, which started the year with 31.7 billion pounds in assets, took a net 875 million pounds into its mutual funds alone during the quarter, it said in a statement, although it said it expected to lose a large mandate later in the year.

    • About Nishant

      "Reuters Asia hedge funds correspondent since December 2010. I joined Reuters in 2006 as India fund correspondent and later on moderated an online community of more than 200 Indian equity fund managers and sell side executives. I started my career as a reporter a decade ago at the Hindustan Times, one of India’s largest English newspapers. I worked at India’s top fund research firm Value Research for two years starting 2004 before moving to Reuters in 2006. In Hong Kong, my main focus is on hedge funds but I also write broadly on the mutual funds and wealth management industries. ..."
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