By Claire Milhench LONDON (Reuters) – Veteran emerging markets fund manager Mark Mobius has teamed up with two former colleagues from U.S. asset manager Franklin Templeton to launch investment firm Mobius Capital Partners. Carlos Hardenberg, who was lead manager for the flagship Templeton Emerging Markets Investment Trust, and Greg Konieczny, former manager of Romanian investment fund Fondul Proprietatea, which is managed by Franklin Templeton, will work with Mobius on a triumvirate investment committee. The three will focus on companies where they can drive performance by raising corporate governance through active engagement, they said at the firm’s official launch in London on Wednesday. The aim is to raise some $1 billion (732 million pounds) in about two to three years to invest in China, India, Latin America and other emerging and frontier markets. Mobius, 81, who is regarded as a pioneer of emerging market investing, left Franklin Templeton earlier this year after … [Read more...] about Fund manager Mobius, ex-Franklin colleagues, launch new firm
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THE TICKER President Trump waves as he leaves a roundtable discussion on tax policy at a Boeing plant in St. Louis last month. (AP Photo/Evan Vucci) Tuesday should have been a banner day for Boeing’s stock. The White House announced that it is sending four top economic hands, led by Treasury Secretary Steven Mnuchin, to China next week in the hopes of negotiating a resolution to the escalating trade conflict that has rattled shares of the aerospace giant. And the administration named an acting head of the Export-Import Bank — the lending facility derided by conservative critics as the “Bank of Boeing” — that has been hobbled by vacancies since 2015. But the company’s shares slid nearly 4 percent amid a broader bloodbath for industrial stocks. The Dow Jones industrial average tumbled for the fifth consecutive day, its longest losing streak in more than a year, falling 600 points at one point before recovering slightly to … [Read more...] about The Finance 202: Boeing’s stock was the best bellwether of a trade war. Until yesterday.
Northamptonshire County Council's One Angel Square headquarters have been sold to a UK asset management firm for £64m, £11m more than what it cost to build. The premises, which cost £53m to construct, were bought by Canada Life Investments and will be leased back to the council.Last month the authority revealed it was relying on the sale of the premises to fund transformation services which will, in turn, help the council save money and prop up its own finances.Cllr Matthew Golby, leader of Northamptonshire County Council, said he believes the deal represented value for money.“I am confident that the transaction will provide the funding required to enable the transformation programme to set the council on a strong future trajectory," he said.“The advice received is that this deal represents very good value for money for taxpayers of the county and generates more money than the construction costs of the building.“While this kind of deal may be less usual … [Read more...] about Northamptonshire County Council make £11m profit on HQ after selling it to asset management firm
News / UK and world by Press Association April 12, 2018, 5:02 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Metro Bank chairman Vernon Hill is facing the prospect of an embarrassing shareholder rebellion after an investor hit out at more than £21 million of payments from the lender to his wife’s architecture firm. Royal London Asset Management has warned it will vote against a raft of resolutions at Metro Bank’s annual general meeting (AGM) on April 24, including the re-election of founder and chairman Mr Hill and the lender’s remuneration report. The fund manager, which holds a 0.44% stake in Metro Bank worth £13.6 million, said it would also vote against the re-election of the heads of both the remuneration and audit committees. Shirley Hill’s firm InterArch was paid £4.6 million in 2017 alone, linked to architectural design services for Metro Bank, as well as a branding, marketing and advertising … [Read more...] about Metro Bank chairman under fire over millions handed to wife’s firm
A Fort Worth-based midstream company is selling its Permian Basin subsidiaries for $1.75 billion. Brazos Midstream Holdings LLC struck the cash deal Monday with North Haven Infrastructure Partners II, an investment fund managed by Morgan Stanley Infrastructure. The sale is expected to close in the second quarter.After closing, Brazos will retain its name and operate as a portfolio company of North Haven. Brazos management will remain in their roles."I am proud of what the Brazos team has accomplished in three short years," said Brazos CEO Brad Iles in a statement. He was formerly senior vice president of business development for Dallas-based EnLink Midstream Partners. "We have built best-in-class assets in one of the most prolific and economic oil and gas producing regions in the United States." … [Read more...] about Three-year-old Fort Worth firm sells Permian Basin assets for $1.75 billion