Page 29 - Absolute Return News Today : Breaking News, Live Updates & Top Stories | Vimarsana

As groups report on their progress, Investment Week looks at the trading updates for asset managers and investment platforms

Share The offer represents an implied value for the trust of £21.6m Custodian Real Estate Investment Trust (CREI) has made a possible offer for the illiquid Drum Income Plus REIT (DRIP), of which Seven Investment Management (7IM) is the majority shareholder as it sits within their suspended Absolute Return and Income portfolios. While the offer is currently theoretical, both 7IM and the board of DRIP have stated they would support the bid under the terms suggested in the possible offer statement. The proposal would see investors receive 0.535 ordinary share in Custodian for each whole share ...

The firm, which had $5 billion in assets under management, would now be run by Allfrey and Raaz Bhuyan who joined the firm as a principal in 2014, also from Colonial First State. It ran a flagship Australian Share fund which was launched in 2006 followed by Absolute Return then the Dynamic Australian Equity launched in 2009. The Dynamic fund was the winner in the Long/Short Equities category at last year’s Money Management Fund Manager of the Year awards. According to FE Analytics, the Australian Share fund had returned 27.1% over one year to 31 May versus returns of 28.2% by the Australia...

Odey AM chairman steps down after two decades David Fletcher to stay on as a senior adviser to Crispin Odey’s $2.9bn hedge fund firm David Fletcher is stepping down as chairman of Odey Asset Management,  Portfolio Adviser has learned.   Fletcher, who has been chairman of Crispin Odey’s eponymous boutique since 1998, will stay on as a senior adviser to the business and will continue to serve on various committees, including the executive committee, according to a spokesperson. He first joined Odey AM in 1995 as its chief executive. Odey AM has not named a replacement chairman yet, bu...

Crispin Odey's hedge fund firm has bucked the green investing trend by backing a Norwegian oil company – and betting against a renewable energy stock.  One of the City Brexiteer's top fund managers, James Hanbury, has put investors' money into £7.9billion firm Aker BP.  According to documents seen by The Mail on Sunday, Hanbury bought the stock because of its low price, high quality management team and potential for cost-cutting. Meanwhile, Hanbury has bet that the share price of Ballard Power will fall. Ballard is a Canadian firm that develops fuel cells for electric cars and machinery...