A group of asset managers, including M&G Prudential, BlackRock and Invesco, have called on the government to close a legal loophole, which would have allowed insurance giant Aviva to redeem £450m of high-yielding preference shares without paying a premium.
Investor pressure in March forced Aviva to back down on the plans, which were driven by legal advice owing to regulatory requirements and would have seen the preference shares no longer count as regulatory...
Months of negotiations
PARTNER INSIGHT: Ian Lance and Nick Purves, managers of the TM RWC UK Equity Income Fund, analyse the tug of war between value and growth that is being observed in markets today and why the future for value investing looks bright.
PARTNER INSIGHT: Ian Lance and Nick Purves, portfolio manager of the TM RWC UK Equity Income Fund, discuss the opportunity shift from growth to value after ten years of underperformance.
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Increased by ten percentage points