HSBC Private Banking has raised more than USD1.6 billion of private client funding for alternative investments globally from January to end August 2020 across a broad range of product solutions including hedge funds, private equity, private credit and a private REIT strategy.
Results & performance
The WealthSelect managed portfolio service has reduced its equity allocations to the US and Asia following strong market performance, adding to the UK and Europe as a result.
A new study of Wealth Managers, Discretionary Fund Managers (DFMs), banks and platform providers has uncovered average portfolio falls of 12.5 per cent between mid-February, as news of the coronavirus outbreak in Wuhan began to affect market sentiment across the rest of the world, and mid-June when wealthtech firm Dunstan Thomas’ conducted the survey.
The PraxisIFM Group has reported a 7 per cent increase in revenue to GBP60.5 million for the year ended 30 April 2020 (2019: GBP56.3m).
FE Investments, a provider of Discretionary Managed Portfolio service has seen assets under management (AUM) rise by nearly 30 per cent so far in 2020 to more than GBP3 billion.
Alternative investment platform CAIS has reported rapid adoption by financial advisers of CAIS IQ, the company’s learning system.
Richard Bernstein Advisors (RBA) has surpassed USD10 billion in assest under management (AUM) at the end of July.
Despite a year of turmoil in the markets, seven funds were able to deliver returns of more than 40 per cent for investors during the first half of 2020.
UK savers put GBP4.7 billion into retail funds in May 2020 building on the positive fund flows in April, according to latest figures published today by the Investment Association (IA).
UK-based smart cash platform Flagstone has seen a doubling in demand since the Covid-19 crisis began but insists its 'business as usual'. And the company says it has adequate capacity to welcome even more new customers - despite the recent increase.