Europe
Russian billionaire arrested in France for tax evasion
Despite holding a diplomatic passport, French police arrested one of Russia’s richest men in Nice on Monday in connection with a tax evasion case, the country’s prosecutors have confirmed.
Investor confidence doubles over 12 months – Lloyds Private Bank
UK investors shrugged off leaving the EU, German election uncertainty, terrorism, the fall in the pound and a shaky housing market to say they were feeling bullish.
HSBC fined record HK$400m for Lehman Brothers-related failures
A Hong Kong tribunal has upheld disciplinary action taken against the local branch of HSBC Group’s Swiss private banking business for “material systemic failures” in relation to the sale of structured products, including from Lehman Brothers, in the run up to the global financial crisis.
Mauritius acquisition boosts Sanlam’s pan-Africa strategy
South African financial services group Sanlam is focusing on Mauritius offshore services as part of its pan-African growth strategy.
Alternatives | 17 Nov 17
Will Europe’s most popular fund continue to steal the show?
This year alone, the Pimco Income fund has attracted more than €28bn in net new money from European investors, according to Morningstar data. This is almost half of all net inflows into unconstrained bond funds this year, and has made the $64.3bn (€54.6bn) strategy the world’s largest actively managed fund. There are few, if any examples of funds that have attracted so much money in such a short time. Even the inflows the Standard Life GARS fund saw in its heydays are peanuts compared to the money the Pimco Income Fund has attracted this year. Can it continue?