Top UK stockpicker Henry Dixon has warned fellow shareholders in Aberdeen Asset Management they face a tough six months, but said the longer-term outlook for the group remains strong.
Consolidation has been the watchword in the asset management sector this year and, consequently, the structure of the funds industry is changing as rapidly as the City skyline.
Tech giant Apple has bought social media analytics firm Topsy Labs, according to reports.
Wealth managers continue to hold UK small-cap funds instead of taking profits and rotating into the larger end of the market, predicting a rise in M&A activity will boost the sector.
Leading bond managers including Jim Leaviss at M&G are moving away from high yield debt on concerns over rising leverage in the US and high valuations.
Australian banking giant Macquarie Group has moved to scupper Aberdeen Asset Management's deal to buy Scottish Widows Investment Partnership (SWIP) after making a £500m cash offer for the business, according to reports.
Boutique asset manager City Financial is targeting two multi-manager firms as it looks to expand its business through further acquisitions.