M&G has joined Standard Life Investments and Aviva in suspending trading on its property fund in order to meet redemptions, amid a post-Brexit rush to exit the asset class. Trading has been suspending in the M&G Property portfolio with immediate effect, with Aviva Investors suspending trading earlier today and SLI suspending yesterday. M&G said: “We announce
Fitch has joined its fellow ratings agency S&P in downgrading the UK’s rating following last week’s Brexit vote. Fitch downgraded both the UK’s long-term foreign and local currency issuer default ratings and the issue ratings on the UK’s senior unsecured foreign and local currency bonds from AA+ to AA. The ratings agency said the UK’s vote
The FTSE 100 opened down 0.8% in the second day of trading following the Brexit vote decision while 10-year gilt yields have fallen to an historic 1%, as Chancellor Osborne moved to reassure markets with an early morning statement saying the UK was “open for business”. The FTSE 100 was trading at 6,090 this morning,
The FTSE 100 has slumped by 8.3% following the UK’s vote to leave the European Union in yesterday’s referendum, while government bond yields have fallen to record low levels. Markets will also now be digesting the news Prime Minister David Cameron has announced his resignation. He said this morning he hopes a new leader will
The investment industry has paid tribute to Martin Gray, co-founder of Coram Asset Management and “best in the business” fund manager, who sadly passed away earlier this month. Coram’s James Sullivan, who worked alongside Martin (pictured) on the firm’s trio of multi-asset funds, said his “dear friend” passed after a short illness, which he dealt with
Sterling volatility has reached a six-year high as the EU referendum looms, while nearly all other volatility measures are also climbing, according to S&P Dow Jones Indices. The implied volatility of the CME/CBOE FX GBP Volatility index rose by a third compared to last month to 15.79, as the June referendum date came within the one
