* Consolidation underway in the sector
(Adds analyst comment, detail)
LONDON Shares in UK and Europe-focused asset manager and insurer M&G fell slightly on its first day of trading after being demerged from Asia-focused Prudential , which soared to the top of Britain's top share index.
PARIS/LONDON French bank BNP Paribas will buy a 22.5% stake in wealth management platform Allfunds, the latest sign of asset managers looking to trim operational costs in the face of rising regulatory expenses and pressure on fees from investors.
LONDON, Oct 21 Shares in UK and Europe-focused
asset manager and insurer M&G fell slightly on its first
day of trading after being demerged from Asia-focused Prudential
, which soared to the top of Britain's top share index.
LONDON Once one of Britain's most celebrated money managers and idolized by a legion of investor devotees, the collapse of Neil Woodford's business has been swift and brutal.
LONDON A second Woodford fund was suspended from trading on Wednesday after embattled investor Neil Woodford resigned as its manager.
* BoE's Carney highlights structural issue in open-ended
(Recasts with details of Woodford quitting as manager of his
remaining two funds)
LONDON Emerging markets-focused money manager Ashmore said assets under management were broadly flat at the end of September from the prior quarter, as inflows of client cash offset investment losses.
LONDON British hedge fund manager Man Group said assets were hit by net outflows of client cash and adverse currency moves in the third quarter and an uncertain outlook could weigh on sentiment into year-end.
LONDON British investment platform Hargreaves Lansdown said its total assets rose 3% in the quarter to the end of September, driven by net inflows of client cash and market gains, although investment sentiment was weak.