Edition:
United States

Simon Jessop

UPDATE 2-BNP Paribas takes Allfunds platform stake as fund managers cut costs

6:51am EDT

* Consolidation underway in the sector (Adds analyst comment, detail)

FTSE debutant M&G still in shadow of glitzier Prudential

6:00am EDT

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.

BNP Paribas buys Allfunds stake as fund managers cut costs

5:20am EDT

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.

FTSE debutant M&G still in shadow of glitzier Prudential

5:19am EDT

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.

Fallen fund star Woodford's firm suffers ignominious end

Oct 16 2019

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.

Trading in second Woodford fund suspended: administrator

Oct 16 2019

LONDON A second Woodford fund was suspended from trading on Wednesday after embattled investor Neil Woodford resigned as its manager.

UPDATE 6-Fund empire of once-star manager Neil Woodford shuts

Oct 15 2019

* BoE's Carney highlights structural issue in open-ended funds (Recasts with details of Woodford quitting as manager of his remaining two funds)

Ashmore first-quarter assets flat as inflows offset investment losses

Oct 14 2019

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.

Man Group assets hit by outflows of client cash, FX

Oct 11 2019

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.

Hargreaves Lansdown assets up 3% on new business, market gains

Oct 10 2019

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.

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