|Bid||2,940.00 x 15000|
|Ask||2,942.00 x 26400|
|Day's range||2,939.00 - 3,005.00|
|52-week range||2,289.00 - 3,370.00|
|Beta (3Y monthly)||0.86|
|PE ratio (TTM)||16.36|
|Earnings date||1 Aug 2019|
|Forward dividend & yield||1.14 (3.60%)|
|1y target est||3,276.00|
LONDON (Reuters) - Jupiter Fund Management has appointed Wayne Mepham as its new chief financial officer, poaching the executive from rival money manager Schroders in the latest major change to its leadership ...
Provident said that 96% of the shares held by its independent shareholders have yet to be signed up to NSF's offer for the larger company, just days before a final deadline the latter has given for the deal to be accepted. Three funds - Woodford, Invesco and Marathon - holding more than 50% of Provident and a majority stake in NSF have all backed the bid, led by current NSF Chief Executive Officer and former Provident boss John van Kuffeler. "While this (96%) statistic is interesting and clearly implies low support for the transaction, the offer process only requires a majority if NSF chooses to proceed," KBW analyst Martin Williams said in a note on the deal.
NSF's 1.3 billion pound hostile bid for Provident has turned into a bitter war of words between the two subprime lenders, with NSF accusing Provident Financial executives of mismanaging the company. Provident, established in 1880 and based in the northern English city of Bradford, has been rebuilding after a botched restructuring of its home credit business led to profit warnings and the departure of its chief executive officer in 2017.
British asset manager Schroders on Thursday posted a 4.2 percent rise in first-quarter assets to 424.4 billion pounds, caused by increases to its funds managed on behalf of institutional clients. Total institutional funds rose to 252.3 billion pounds from 242.3 billion pounds in the three months to end-March, it said in a statement. The percentage of increase in assets derived from market movements and that from net inflows of new client cash was not disclosed.
Advisers Glass Lewis say Schroders shareholders should vote against the investment firm’s pay report. Photograph: Toby Melville/Reuters The fund manager Schroders is at risk of a shareholder backlash after an influential advisory firm issued a warning about “excessive” bonuses and the appointment of a Schroder family member to its board. Glass Lewis has recommended that at next month’s annual meeting investors vote against the company’s pay report, as well as the election of Leonie Schroder, claiming she lacks the experience needed to challenge the firm’s executive team. It has also urged investors to block the re-election as chairman of Michael Dobson, who Glass Lewis says is responsible for the board’s make-up and “should be held accountable for this failure”. The advisory group said it had “severe reservations” about supporting the pay report due to the size of the bonuses granted to chief executive Peter Harrison. Harrison, who has been at the helm since 2016, was given a £6m bonus last year on a £500,000 salary. “We remain concerned that the annual bonus plan has consistently led to unnecessarily high payouts,” Glass Lewis said. “We cannot recommend that shareholders support this proposal.” A spokeswoman for Schroders said the company has a “clear and thorough process” for determining pay “which we have followed rigorously and which has served the firm and all its stakeholders well over many years”. The Glass Lewis report also takes aim at Leonie Schroder, whose family holds a 35% controlling stake in the business. She was appointed in March following the death of her father, Bruno. Glass Lewis said controlling shareholders should be “entitled” to representation, but stressed that directors need to have the experience to guide and challenge the executive team. “We do not believe a sufficiently robust rationale has been presented for the election of nominee [Leonie] Schroder, and question whether, in representing her family interests, she has sufficient core industry or sector experience to effectively challenge management,” the advisory firm explained. Schroders said the decision to appoint Leonie Schroder followed consultations with key members of the family trust and main shareholder group following Bruno’s death in February. “After careful consideration, the nominations committee decided to recommend to the board her appointment as a director,” a spokeswoman said. “As part of the nominations process, the company also engaged with a number of institutional shareholders – all indicated support for the proposal to appoint Leonie Schroder, given the overall mix of skills on the board and the majority of independent non-executive directors,” she added. The Schroders AGM will be held in London on 2 May.
Nick Train is one of Britain's top portfolio managers. Here's a look at two FTSE 100 (INDEXFTSE: UKX) dividend stocks he's snapped up recently.
"Schroders agrees with the conclusion of the Findel Board that the offer significantly undervalues the future prospects of Findel," the company said in a statement and reiterated its intention to not accept the offer which values Findel at 139.2 million pounds. Schroders Investment Management holds an 18.85 percent stake in Findel.
Looking for ideas for your ISA? I'd consider these FTSE 100 (INDEXFTSE: UKX) dividend stocks says Edward Sheldon.
The FTSE 100, which earns more than two-thirds of its earnings in U.S. dollars, added 0.6 percent on its best day in a week - and the FTSE 250 was up 0.1 percent. Sterling lost more than a percent as May failed to sway hardline opponents of her European Union divorce deal with an offer to quit, while none of eight indicative options to break the Brexit deadlock won majority support in parliament. Tobacco giant Imperial Brands advanced 2.3 percent and British American Tobacco climbed 2 percent as brokerage Citi hiked rating on both stocks to "Buy" saying regulatory threat will probably move away from cigarettes.
Schroders Personal Wealth, a planned joint venture between asset manager Schroders and Lloyds Banking Group, announced its management team on Tuesday. Schroders and Lloyds said they were teaming up on the project in October last year, and at the time said it would be led by Schroders' co-head of intermediary, James Rainbow.
About a year ago, Lloyds announced it was pulling 109 billion pounds ($145 billion) of assets that SLA managed on behalf of Lloyds’s Scottish Widows unit, saying the 2017 merger of Standard Life and Aberdeen created a “material” competitor to the lender’s own insurance business. The balance of the funds is pledged to BlackRock Inc.
PLC (LLOY.LN) said Tuesday that it will work with Standard Life Aberdeen PLC (SLA.LN) after losing a tribunal decision over the transfer of 100 billion pounds ($133 billion) in assets to rival fund managers.
Like its peers, Schroders suffered in the fourth quarter as market volatility prompted clients to withdraw funds, as the firm detailed in its full-year results on Thursday. At a time when fees for managing other people’s money are on a downward spiral everywhere you look, that’s a pretty good performance.
Schroders posted a 15 percent fall in full-year pretax profit after restructuring costs and a fall in assets under management and fee income, sending shares in the British asset manager lower on Thursday. Pretax profit for the year ended December 31 fell to 649.9 million pounds from 760.2 million, said Schroders, which traces its roots back more than 200 years and is still majority owned by the Schroder family. Assets under management fell 6 percent to 421.4 billion pounds hit by weaker markets and net outflows of 9.5 billion pounds.
British asset manager Schroders on Thursday posted a 15 percent fall in full-year pretax profit on the back of higher one-off costs and a fall in assets under management and fee income. Pretax profit in ...
(Reuters) - Schroders said https://www.schroders.com/en/media-relations/newsroom/all_news_releases/schroders-appoints-new-uk-intermediary-head-of-operations-and-governance on Wednesday it had named Anna ...
British wealth and asset manager Schroders on Thursday announced the death of Bruno Schroder, a non-executive director and the great-great grandson of the company's co-founder John Henry Schroder. Schroder died after a short illness at the age of 86 on Wednesday. "Bruno made an enormous contribution to Schroders over more than 50 years," Schroders chairman Michael Dobson said.