UK buyers choosing global funds over domestic
Morningstar Investment Management says UK buyers are flocking to global equity funds as regionally diversified exposure proves more alluring than the beleaguered domestic market.
Schroders’ advised assets drop £3.1bn
The assets Schroders manages of behalf of advisers’ clients has fallen by £3.1bn ($4.3bn, €3.5bn) in the first quarter of the year, according to its latest results.
IFA Newell Palmer clocks up third acquisition in four months
Newell Palmer’s acquisition of IFA firm HIA International Financial Services means the firm now has £2.1bn (€2.4bn, $2.9bn) in funds under management, a figure that will likely grow as it plans to make further acquisitions throughout the year.
UK inheritance tax receipts reach record £5.2bn
The UK government hauled in £5.2bn ($7.2bn, €5.9bn) of inheritance tax receipts during the 2017/18 tax year, a figure 8% higher than the previous year.
Columbia Threadneedle expands European multi-asset range
Columbia Threadneedle Investments is expanding its Luxembourg multi-asset offering with the launch of a fund that is designed to deliver equity-like returns of 4% above European inflation.