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Financial Services News

Companies that provide financial services which includes banks, savings and loans, asset management companies, credit services, investment brokerage firms, and insurance companies. Companies in this sector include Allianz, HSBC and Lloyds Banking Group.

17 Feb 2022

Polar Capital Global Financials outperforms as financials in demand

Polar Capital Global Financials outperforms as financials in demand – Fast-growing Polar Capital Global Financials Trust rewarded its shareholders with an NAV return of 27.9% and a share price return of 29.7% over the course of the 12 months ended 30 November 2021. Both returns were ahead of the 27.0% return delivered by the MSCI ACWI […]

28 Jan 2022

QD view – every cloud

A storm is hitting markets as central bankers threaten to raise interest rates to choke off inflation. Growth-focused funds have been hit hard – Scottish Mortgage’s shares are 20% lower than they were a month ago, for example. However, it is not all doom and gloom. Polar Capital Global Financials Trust is trading at a […]

26 Jan 2022

Polar Capital Global Financials back for more money

Polar Capital Global Financials back for more money – Polar Capital Global Financials (PCFT) plans to raise additional equity capital through the issue of new ordinary shares via its placing programme. The new shares will be issued at a price which will be published on the day following the closing date of the placing, set […]

14 Jan 2022

Polar Capital Financials in hot demand

Polar Capital Global Financials Trust (PCFT) has published a shareholder circular convening a General Meeting for Tuesday, 1 February 2022. The purpose of the meeting is to ask shareholders to renew the board’s authority to issue new ordinary shares (while disapplying the pre-emption rights in respect of such allotments). Since its 2021 AGM, PCFT has […]

09 Jul 2019

Polar Capital Global Financials edges further ahead

Polar Capital Global Financials edges further ahead – in its interim results, covering the six months ended 31 May 2019, Polar Capital Global Financials Trust reports that it delivered a return of 2.0% in NAV terms ahead of a 1.4% return on its benchmark, MSCI World Financials plus Real Estate. The trust has now outperformed […]

02 Jul 2019

Augmentum Fintech raises £25.8m after promising first year

Augmentum Fintech raises £25.8m after promising first year – Augmentum Fintech (AUGM) published its first set of annual results last month, (click here to read this story) and has this morning announced that it has raised gross proceeds of £25.8m through an equity issue. At the end of first yearly results period, to 31 March […]

13 Jun 2019

Trian Investors 1 invests in Ferguson

Trian Investors 1 invests in Ferguson – Trian Investors 1, which was set up to invest in a single stock and engage with stakeholders to improve the stock’s value, has finally made its move, acquiring a stake in Ferguson. Funds managed by Trian Fund Management, L.P. and Trian Investors Management, LLC, including the fund through […]

11 Jun 2019

Augmentum Fintech off to a good start

Augmentum Fintech off to a good start – Augmentum Fintech has published its first set of accounts covering the period from launch to 31 March 2019. The NAV immediately after launch was 99p, at the end of the period it stood at 109.6p. The shares were trading at a small premium to that level.  The […]

03 Jun 2019

Polar Capital on fintech – is it really the demise of incumbents?

The growth of fintech is having a profound impact across financial services with digital transformation set to accelerate the division between winners and losers. However, the discussion on the outlook for the sector is often framed as the rise of fintech and the demise of the incumbents. While complacent companies are certainly at risk of […]

03 May 2019

Simon Cordery joins Polar Capital Global Financials Trust board

Polar Capital Global Financials Trust (PCFT) has announced that Mr. Simon Cordery has been appointed as an independent, non-executive director, with effect from 1 July 2019. Mr. Cordery has considerable and detailed knowledge of the investment trust industry and remains actively involved with the Association of Investment Companies. A resolution proposing the election of Mr. […]

23 Apr 2019

Catastrophic events hit CATCo Reinsurance Opportunities

Catastrophic events hit CATCo Reinsurance Opportunities – CATCo Reinsurance Opportunities (CATC) had a tough 2018 in what was a highly challenging year for the industry. The company reported its annual results to December 31, 2018, this morning, with total return NAV down 35.7% for the C Shares issued in November 2018 while returns on the […]

02 Apr 2019

EJF Investments delivers 19.1% NAV total return in 2018

EJF Investments delivers 19.1% NAV total return in 2018 – EJF Investments (EJFI) outperformed its total return target of 8-10% in the year to December 31, 2018, delivering a NAV total return of 19.08%. Through its subsidiaries, the fund invests in opportunities created by regulatory and structural changes impacting the financial services sector. These opportunities […]

12 Feb 2019

Polar Capital Global Financials navigates a topsy-turvy year

Polar Capital Global Financials Trust (PCFT) has announced its annual results for the year ended 30 November 2018. In what the chairman’s statement describes as a topsy-turvy year for global equity markets, PCFT provided NAV and share price total returns of -1.5% and -1.7% respectively, which it says compares against a total return for its […]

16 Jan 2019

QuotedData join the Master Investor Show 2019 main stage line-up

QuotedData join the Master Investor Show 2019 main stage line-up – QuotedData is, once again, a key sponsor for the Master Investor Show. Edward Marten, QuotedData’s CEO, shall join the Main Stage line-up on Saturday, 6 April, at London’s Business Design Centre. We’d love to see as many of you as we can at the event. […]

19 Dec 2018

CATCo Reinsurance Opportunities – plans 2019 redemption opportunity

Following on from its announcement on 7 December 2018 that its manager Markel CATCo Investment Management Ltd, is subject to enquiries, by the US and Bermuda governments, into loss reserves recorded in late 2017 and early 2018 (click here to read the story), CATCo Reinsurance Opportunities (CATCo) has now announced that its board has noted […]

07 Dec 2018

CATCo Reinsurance Opportunities’ manager under investigation

CATCo Reinsurance Opportunities has announced that its investment manager, Markel CATCo Investment Management Ltd, is subject to enquiries, by the US and Bermuda governments, into loss reserves recorded in late 2017 and early 2018. This includes its subsidiaries Markel CATCo Reinsurance Fund Ltd and Markel CATCo Re Ltd Markel CATCo Reinsurance Fund Ltd is the […]

20 Aug 2018

Augmentum makes three new investments

Augmentum makes three new investments – Augmentum Fintech has announced an aggregate of GBP 7 million of investment in three leading European fintech companies – Tide, Previse and DueDil. GBP3 million in Tide, an emerging leader in SME challenger banking, as part of an GBP8 million funding round alongside existing investors GBP2 million investment in Previse, the global […]

16 Oct 2017

Duke agrees new royalty finance for Lynx Equity

Duke agrees new royalty finance for Lynx Equity – Duke Royalty Limited has entered into its second royalty financing agreement with Lynx Equity (U.K.) Limited (“Lynx UK”), the UK-based subsidiary of Lynx Equity Limited (“Lynx”). Duke has committed GBP 7.0 million, with an initial tranche of GBP 4.5 million to be drawn down immediately, with the additional […]

12 Jun 2017

Duke Royalty river cruise finance paying off

Duke Royalty river cruise finance paying off. Duke‘s inaugural royalty investment, successfully launched its maiden voyage for its third vessel, the Carmen.  Duke says that this marks a memorable day for Temarca and demonstrates the rapid progress made since Duke’s EUR8 million royalty investment which was concluded in April 2017. In response to the growing […]

17 Mar 2017

Duke Royalty seeks to raise up to £15m and re-admission to AIM

Duke Royalty (DUKE) has announced proposals for a conditional placing to raise up to £15.0 million, before expenses, by way of a fundraising. This to comprise a placing and subscription of up to 37.5 million New Shares at a price of 40 pence per share. DUKE says that the net proceeds of the fundraising, which […]

26 Jul 2016

Duke Royalty getting closer to first transactions

Duke Royalty has published results for the year ended 31 March 2016. Over the financial year, Duke Royalty generated a loss after taxation of GBP4.0 million, comprised of GBP1.1 million of cash items and GBP2.9 million of non-cash items (primarily reflecting losses on disposals of investment interests from the previous investment strategy). At the year end […]

08 Jul 2016

Polar Capital Global Financials just ahead of benchmark

During the six months to 31 May 2016 Polar Capital Global Financials generated a fully diluted Net Asset Value total return of -0.59%. The portfolio’s benchmark, the MSCI World Financials Index (Total Return with dividends reinvested), returned -0.84% over the same period. The price of the ordinary shares closed the period at 97.75p, a decline of […]

07 Sep 2015

Duke Royalty announces royalty deal with Oliver Wyman

Duke Royalty and Oliver Wyman have announced an exclusive pharmaceutical and healthcare royalty financing collaboration. Oliver Wyman is a management consultancy wholly owned by Marsh & McLennan Companies. Duke Royalty will be responsible for capital raising, the structuring of definitive agreements and the acquisition of each royalty interest originating from the collaboration. Duke Royalty believes […]

27 Jul 2015

Duke Royalty focused on new strategy

Duke Royalty shareholders approved the strategy changes proposed at the recent AGM and the fund’s new investments will now be focused on royalty streams. The NAV of the legacy resources assets fell by 69% over the year to the end of March 2015, finishing the period at 7p. the Board initiated a number of cost […]

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