Quilter & Co and Cheviot Asset Management are in talks to combine their businesses via a private-equity facilitated merger, which would create the UK’s second biggest wealth manager.
As if their investment decisions are not difficult enough, fund managers have the added complication of deciding whether they are facing inflation or deflation.
Silvio Berlusconi reacted angrily to S&P’s downgrade of his country’s sovereign debt, but fund managers’ response was more measured.
Early trading in US equities markets saw major indices fall unanimously, with the Dow, S&P 500 and Nasdaq all dropping quickly by more than 2%. European fund managers’ reactions to the expected impact of Ben Bernanke’s announcement were mixed ahead of markets opening.
17.16 This ends Investment Europe’s markets blog after an eventful Friday for capital markets on the Continent and in America. We wish you a restful weekend ahead of what’s expected to be another busy day when markets reopen next week.
For further analysis of today’s events, and what it will mean for your investments, asset classes and fund buying plans, return to the Investment Europe website again on Monday 8 August.
Cheviot Asset Management, the private UK wealth management company, has opened an office in Liverpool, its first outside London.