River & Mercantile profit halves as performance fees slump
Lower gilt yields to blame
River & Mercantile (R&M) saw its profits cut in half due to much lower performance fees and the "significant investment" the firm has made in its distribution and investment manufacturing divisions.
R&M said that its underlying revenues grew by 6% to £69.4m in its full-year to 30 June 2020, with assets under management (AUM) 11% higher at £44.2bn. However, its adjusted underlying pre-tax profit...
More on Industry
Have your say: Is the DWP right to mandate use of simpler annual statements for auto-enrolment DC schemes?
In this week's Pensions Buzz we want to know whether you think the Department for Work and Pensions is right to mandate the use of simpler annual statements for auto-enrolment defined contribution schemes?
10,000 Black Interns campaign launches with leading investment managers' backing
Leading figures of the investment management industry have today launched the 10,000 Black Interns programme which aims to improve and transform the career prospects of young black people in the UK.
Willis Towers Watson launches diversity action plan; warns progress is 'disappointingly slow'
Willis Towers Watson has set out a diversity action plan for the investment industry after its research found progress on diversity is “disappointingly slow” across the entire sector.
Standard Life Aberdeen and Fidelity sign letter demanding action on black inclusion
Standard Life Aberdeen and Fidelity have signed an open letter demanding action on inclusion in response to the Black Lives Matter movement.
Five stories you may have missed this week
This week’s top stories included the launch of Punter Southall’s defined benefit scheme consolidator, while The Pensions Regulator laid down three ‘gateway principles’ for superfund transfers.
