Dan Barnes

A little scoop. Schroders has informed clients it will be adding a 'Sustainable Focus' label to a £1bn fund. After much hand-wringing from asset managers, more are announcing these labels. The message to fund distribution is these labels will matter and if you don't get one for your fund it may well lose out. #distribution #assetmanagement #citywireselector #ESG #FCA #sustainableinvesting https://lnkd.in/eMHdpueW

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New Trader TV This Week - Phil Milburn at Liontrust Asset Management PLC warns of major political volatility ahead and the need for de-risking portfolios over the next few weeks. While the fund manager spoke to Trader TV ahead of Biden’s announcement to withdraw from the election race late on July 21, in this episode, he unpacks how he sees politics and economics driving trading activity this year and dissects what a Trump presidency could mean for markets. In this episode: 📈 Economics Vs Politics – how they will drive market activity 🏛 What a potential Trump presidency could mean for markets? ⚠ Preparing for election volatility and risks 📊 The US Stock rotation – a blip or a trend? 🌍 Europe and the UK –where are they in their interest rate cycle? In the extended show, available to our audience that signs up to Trader TV’s mailing list and available on Tradertv.net, Milburn also his concerns on broader market liquidity and why he fears a potential “liquidity-based accident” sometime this year. If you didn’t sign up to Trader TV’s newsletters and wish to have the full interview sent to your inbox each week reach out to [email protected]. The show is supported by Cabrera Capital Markets and MTS Markets. #trading #fixedincome #equities #electionvolatility #Trump #Biden #markets

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Had a really interesting chat with Legal & General Investment Management (LGIM)'s Michael Marks about the exec pay and UK listings debate and the key issues the fund group has on its radar heading into AGM season. #AGM #ESG #assetmanagement https://lnkd.in/e8TUUwA9

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Does a lack of data transparency in the private credit sector present a concentration risk? Some industry professionals have warned that LPs could be funding the same loans across several different private credit funds, meaning that they have less diversification in their portfolio than they think. Industry stakeholders are divided on the issue - read all about it on Alternative Credit Investor https://lnkd.in/exhjcKNP

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the Financial Markets Standards Board (FMSB) has published a paper on #prehedging, and it highlights how tricky a problem this is for #FX and financial markets in general. It's clear we need more guidance, but what form should it take?

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Some thoughts on Sky News' story that suitors are looking at a potential bid for #ITV, which is centred around a potential break-up: 1. Management have looked at a break-up multiple times over the years. The problem has always been the same, namely that ITV Studios produces the bulk of programming for the ITV television network and so the latter would need to have guaranteed access. In the past, that link has been seen as a major barrier to a split. Does not mean it cannot happen now but FYI. 2. The plan being mentioned is that private equity firm CVC would acquire the production assets while French broadcaster #TF1 would take over the broadcasting side. TF1 is a well-run broadcaster whose own streaming service (TF1+) is at an earlier development stage than ITVX. I don't think TF1 would interfere massively in an ITV service. 3. Could other bidders emerge (if this story turns out to be true)? Probably the most likely one would seem pan-European broadcaster RTL which also owns a major content production business in Fremantle. Acquiring ITV would also give it (1) the leading commercial TV player in the UK and (2) would be a major boost to RTL's plans to develop an integrated pan-European programmatic TV platform. As usual, this is not investment advice.

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MDBs are under pressure to maximise their lending capacity and attract the private sector to help finance it. Two strategies have emerged for raising additional capital from hybrid securities without affecting treasured Triple A ratings https://lnkd.in/eJyKDsd2

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Budget Flash – Is the EIS & VCT Industry Too Complacent Regarding The Chancellor? A few weeks before the UK election in 2019, I was speaking at an Intelligent Partnership EIS Forum involving eight EIS fund managers, presenting to a group of about forty wealth manager and IFA groups. During the Q&A session, one participant asked the panel of fund managers whether they believed that the election of Jeremy Corbyn would lead to the end of EIS and VCT tax reliefs. With only one exception, they were unanimous in pouring cold water on this suggestion. Too many jobs would be lost; the UK needed investment in early-stage life sciences, fintech, blockchain technology, AI, and robotics; the creative fulcrum of entrepreneurial Britian would be sacrificed etc. All logical and well-reasoned arguments. Symvan was the exception that day and argued that these schemes would be amongst the first to go for the very simple reason that the Corbyn/McDonnell axis viewed the world through an essentially post-Marxist prism and simply saw such schemes as ‘tax breaks for rich guys.’ The private sector has little or no role in generating economic growth when you remove yourself sufficiently from reality. That intellectual depravity does not exist with the current government, but expediency potentially calls the wolf to the door nonetheless. And so Martin Vander Meyer offers a warning in a worryingly prescient article in this week’s Spectator in which he argues that, although the Chancellor has emphatically denied that she wishes to punish early-stage companies in the UK, she may have to “scrape the bottom of the bin” and punish the sector as the Treasury and the OBR have removed Labour’s delusions about what the costs of its mooted tax rises will mean for the UK economy. If the furious lobbying ahead of Wednesday’s budget has taught us anything, it is that the power of the unions is forcing the Chancellor to make sub-optimal decisions and the UK as a whole will bear the cost. Will entrepreneurial Britain pay the price? #EIS #VCT #The Spectator #Martin Vander Weyer #UK Budget

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My latest investigation before the Xmas holidays for Investment Week is finally out! I analysed the world of investment trust NEDs, their relationship to private company valuations, and whether their level of skills and training is enough to effectively accept or challenge private valuations. Over a year of work, countless on- and off-the-record conversations and an ever-increasing demand for private market opportunities later, and here it is!

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If US markets/stocks are of interest to, you may want to check out this businessline BL Portfolio webinar with my thoughts on where the markets stand as of today, and what are the ways to analyse and pick stocks. While there are many approaches, in this webinar I have shares few things that I learnt from my expereince on researching on US markets for over a decade. Raghuvir Srinivasan Parvatha Vardhini C K Bharat Kumar https://lnkd.in/gR4m8ngA

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More top investors are backing pay rises for Britain's chief execs. Rathbones Asset Management's David Coombs told Financial News he voted to hike Smith & Nephew CEO Deepak Nath's pay to $11.8m. “Smith & Nephew lost their CEO because they couldn’t pay him alongside the US equivalent. If you’re going to compete in a global market you have got to be able to attract talent,” Coombs said. Meanwhile, LINDSELL TRAIN LIMITED backed a £13m pay deal for LSEG (London Stock Exchange Group) boss David Schwimmer. Nick Train told FN: “Even in the UK, where there is arguably a more mature corporate sector, you still want businesses to be run with an entrepreneurial mindset. We want hungry, ambitious entrepreneurs to be running the companies we invest in.” #execpay #remuneration #UKequities #assetmanagement https://lnkd.in/e2v6sTZV

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To yield or not to yield? “Yields look attractive again, but what are they telling us this week? The good news is this is not just a UK question.” Read more in the latest #weeklymarketviews from Premier Miton’s Managed Portfolio Service investment team. For investment professionals only. Capital at risk. #investing #marketcommentary #MPS #weekahead

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This week's ABF Journal podcast tackles an important and timely topic: automation in credit infrastructure. I talked with Stuart Wall, Co-Founder and CEO of Setpoint about the key benefits of automation, such as efficiency, accuracy and cost reduction. We also dove into the critical question of how to balance automation with human oversight. This podcast will help you understand how automation is reshaping risk management, the challenges companies face in adopting new technologies and how data quality can make or break automated systems. #automation #creditinfrastructure #riskmanagement

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A galaxy of fixed income stars contributed to my latest Vantage Point piece exploring the options available in the fixed income market...https://lnkd.in/e8BAhkyg

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