Aussie bank CBA set for A$4bn global asset management arm IPO
Commonwealth Bank of Australia is to list its Colonial First State Global Asset Management business in a deal that analysts predict could net as much as A$4bn (£2.2bn, $3.1bn, €2.5bn).
Praemium funds hit A$7.8bn despite tough market
Amid sharp declines in equity markets, Australian investment platform Praemium reported its third highest gross inflows on record and saw funds under administration rise 5.2% to A$7.8bn (£4.25bn, $6bn, €4.9bn) during the first quarter of 2018.
Novia Global launches trustee investment governance service
Novia Global has partnered with a UK advice firm to launch a trustee investment governance service aimed at trust companies seeking professional advice on their investment policy statement and when reviewing arrangements with discretionary managers.
UK compensation scheme declares 11 firms in default
The Financial Services Compensation Scheme (FSCS) declared 11 firms in default during March 2018, meaning that consumers could get back money they have lost.
SJP shares set to gain on Asian growth
Growth in Asia and benefits from its purchase of a UK asset management firm could see shares in St James’s Place power ahead this year, according to analysts at UK stockbroker The Share Centre.