F&C reports £4.9bn outflow in Q4 and closes listed hedge fund

clock

F&C Investments recorded a £4.9bn outflow in the fourth quarter of 2012, with AUM hit by strategic partner withdrawals and redemptions in its wholesale business.

F&C said the largest contribution to outflows in the quarter was the withdrawal of £2.4bn of fixed income assets managed for Friends Life, taking overall  strategic partner outflows to £3.6bn. The firm reported a total net outflow of £1.3bn from its consumer and institutional business, within which the third-party institutional assets division shed £956m. F&C recorded a £340m outflow from its wholesale business, with the most significant outflows coming from the Thames River Global Credit funds following a period of weak performance. Overall for the year to 31 December 2012, the gr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read