Schroders plc (SDR.L)
- Reuters
Big UK investors poised to buy the dip in US property
British investment managers Legal & General and Schroders are to invest hundreds of millions of dollars in commercial property in the United States, but are largely steering clear of the hard-hit office sector, the companies told Reuters. The fund managers, which oversee more than 1.9 trillion pounds ($2.5 trillion) of assets between them, said they had separately been building up their U.S. real estate teams to make the push, anticipating that property prices will recover, aided by falling interest rates. Legal & General CEO António Simões told Reuters that U.S. real estate was a key expansion market for the company, adding that the market's fundamentals remained strong.
- Reuters
UK fund firms Schroders and abrdn name new CEOs to reboot ailing fortunes
LONDON (Reuters) -UK fund managers Schroders and abrdn named new CEOs on Tuesday, appointing insiders to reboot performance at firms running nearly 1.3 trillion pounds ($1.7 trillion) in assets against a backdrop of skittish investor sentiment and industry-wide pressure on fees. Schroders appointed current chief financial officer Richard Oldfield to succeed Peter Harrison in November, while abrdn - which had faced calls to break up amid shrinking demand for its funds - separately announced interim boss and former CFO Jason Windsor would become its permanent CEO.
- The Telegraph
More than £200m wiped off Britain’s struggling Concorde successor
A British plane engine company – dubbed the heir to Concorde – has seen more than £200m wiped off its value by a major investor as it struggles to raise funding.
