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...XTX, one of the world’s biggest proprietary trading and market-making groups, had sought to use Aviva Investors’ and L&G Investment Management’s money-market funds to invest some of its own cash....
...European coffee group JDE Peet’s is replacing its two top executives as controlling shareholder JAB Holding seeks to shake-up the owner of L’Or, Kenco and Douwe Egberts following a long period of underperformance...
Britain’s biggest asset manager buys $250mn of bonds in a sign of growing investor interest in debt-for-nature swaps
...L’Occitane trades at 15 times next year’s earnings; Paris-listed L’Oréal is above 30, according to S&P Capital IQ....
...Cook was among the producers on Beyoncé’s Renaissance, and Dua Lipa’s new album was co-produced by former PC Music mainstay Danny L Harle. Britpop is Cook’s first album since mothballing PC Music....
...Simões, who joined the business from Santander, replaced Sir Nigel Wilson, L&G’s chief of more than a decade....
...Transfer Market Natalie Robyn is stepping down as chief executive of the Fédération Internationale de l’Automobile, the governing body for Formula One and other motorsports, after just 18 months....
...Z.d.G....
...L&G declined to comment....
...His breakout novel, 1996’s Death and the Penguin, placed an ambitious obituary writer and his depressive pet penguin Misha in the middle of a series of mysterious mafia killings....
...L&G sells these to defined benefit pension schemes, capping their risks. A record £25bn have already occurred this year. L&G expects to transact about £11bn itself....
...F1’s operating profit rose by 64 per cent to $392mn in 2023 from a year earlier, as revenues jumped to $3.2bn from $2.5bn....
...Thus only a fraction of overall AUM is deployed in strategies that have a direct impact on the VIX® index (e.g. 1-month over/underwriting strategies on the S&P 500 index)....
...Another short-selling aspect that often gets forgotten is how higher interest rates also help L/S hedge fund returns by increasing their cash returns....
...The company’s Ageing Population and Healthcare Innovation ETFs have also fallen out of favour, alongside the L&G Cyber Security Ucits ETF....
...L&G’s retail business was also “bolstered” by rising individual annuity sales....
...“Higher interest rates are benefiting L&G’s large pension business, and Aviva’s ongoing transformation is reaping rewards,” she said, noting its diversification into wealth management....
...As such the buyout does not look too shabby at 20 times this year’s operating profit on S&P Capital IQ estimates. But with more effort management might be able to double these earnings....
...L&G dominates bulk UK annuities market with about a quarter of the market. Specialists Pensions Insurance Corporation and Rothesay have a fifth each....
...L&G said that it had written £13.4bn of pension transfer business globally so far this year....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...The group has a record of profitable exits — such as 2023’s $8.6bn listing of German sandal maker Birkenstock — and Tod’s has a good potential to turn into another success story, say analysts....
...A serial non-executive director at Tesco and formerly at L&G and the foreign office, Platt joins the new chief executive officer Dan Olley as he attempts to turn the fortunes of Britain’s largest funds supermarket...
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