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...Kunal Sood, managing director of defined benefit solutions and reinsurance at Phoenix’s Standard Life business, said the industry had “strict due diligence processes and regulation in place to ensure decisions...
...The investment is being made by Phoenix’s With Profits funds....
...But Elliott insiders note that the address in question — 1209 North Orange Street in the US state of Delaware — is home to the Corporation Trust Center, where more than 250,000 companies are registered....
...But other investment trusts face a battle to survive. Capital raisings, the industry lifeblood for new funds, have dried up....
...Purchases totalled £948mn last year, down 28 per cent from 2022’s record high of £1.3bn, according to data from the Association of Investment Companies, a trust industry body....
...Some of the sector’s problems are common to the wider investment trust industry. Higher interest rates have increased the allure of other lower-risk asset classes....
...Tritax Management, a specialist fund manager backed by Abrdn, would take over the running of the combined group, which would have a market capitalisation of £3.9bn and a portfolio of £6.3bn, the companies...
...in the industry....
...Its £1bn investment trust also had a tough 2023, with the trust’s managers noting that last year was “the worst in the history of Ruffer Investment Company”....
...Meanwhile, SinoPac Securities Investment Trust, a mid-size local firm, recorded the highest growth in ETF management fee income among the top 10 fund houses, with a rise of 38 per cent to NT$59mn in 2023...
...Fund manager Wright says Just Retirement has the strongest growth potential but the weakest dividend, whereas Phoenix Life and Aviva yield 11 and 7 per cent respectively....
...In other news, ArtNova, an investment fund focused on cultural industries, has acquired The Art Business Conference, founded by Louise Hamlin in London in 2014....
...HOLD: Phoenix Group (PHNX) An indifferent set of results and an unfortunate private equity stake puts Phoenix insurance under pressure, writes Julian Hofmann....
...They possess an enduring competitive advantage, disrupting their respective industries or even creating new ones....
...INA was set up by President Joko Widodo in 2021 to invest in economically significant industries and draw foreign investors to Indonesia — unlike traditional sovereign wealth funds that invest surplus state...
...In recent years the trusts, which act as closed-ended investment funds, have become less popular as higher interest rates lured investors into government bonds....
...New business net fund flows, a measure of the amount of new money that the company was given to manage, rose 72 per cent to £3.1bn. Overall, Phoenix’s operating businesses generated £898mn of cash....
...Wall Street’s biggest vulture funds were circling in anticipation of a potential bankruptcy. Surging interest rates worsened affordability for used cars....
...The “tempo of questions” from asset managers was “rising quite rapidly” as the go-live date for T+1 in the US nears, said Gerard Walsh, head of client solutions, banking and markets at Northern Trust....
...In 1995, the trust divested itself of any interest in pharmaceuticals by selling all remaining stock to Glaxo plc....
...The trust invests in high-growth companies such as Nvidia and Tesla....
...You can of course buy into simple tracker vehicles, but I have one very left field idea: Phoenix Digital Assets, formerly known as NFT Investments....
...The Association of British Insurers’ Investment Delivery Forum, set up to facilitate the promised investments, on Monday said new public-private partnerships that use taxpayer funds would reduce risks....
...Spurs would be just the latest Premier League club to raise cash to fund the need to compete in a division of rivals owned by billionaires, private equity and sovereign wealth....
...— has quite the job ahead of him, which he obliquely nodded to in the pension plan’s statement: “I’m grateful to CalPERS’ leaders for the trust they’ve put in me to help shape the pension fund’s next chapter...
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