Smith beats Woodford with record £822m Smithson IPO
(Update) Terry Smith has raised a record £822.5 million for his new Smithson investment trust, beating the previous peak for an investment company flotation, or initial public offer (IPO), set by Neil Woodford’s Patient Capital trust three years ago.
UK missing out on £20bn of unclaimed pension pots
The UK has £20 billion in unclaimed pensions, research from the independent PPI has revealed, adding pressure on the government to act over the pensions dashboard.
Wednesday Papers: Uber targets $100bn valuation in IPO
And UK is set to seek longer transition to make free-trade deal.
Eight wealth managers reveal their favourite alternative funds
Wealth Manager readers name eight funds pursuing investment opportunities in ways that go beyond traditional strategies.
RBC: client exodus leaves Gars on course for £12bn outflow in 2018
Net outflows from Gars are at record levels and will hit £12 billion in 2018, according to RBC Capital Markets.
The funds that dived and thrived in a torrid week
A heavy sell-off in 'darling' AIM stocks took a big bite out of some funds, while one fund surged 11% in the sell-off.
- Top AIM manager Mumford shocked by Patisserie Valerie crisis
- BlackRock wins race for £30bn Scottish Widows mandate
- FOS blames Berkeley Burke for due diligence failings in key court battle
- Trusts tumble as sell-off sparks fear among investors
- Hargreaves Lansdown shares dive 7% on 'industry-wide slowdown' warning