Latest news with #StJames'sPlace
Business Times
08-05-2025
- Business
- Business Times
Retail investors pull US$13 billion from property funds in Europe
[LONDON] Retail investors are continuing to pull money from European real estate funds as rising levels of defaults and higher interest rates limit the attractiveness of the industry. Mom and pop investors yanked 11.44 billion euros (S$16.7 billion) in the year through March from products domiciled in the region, according to data compiled by Morningstar, 20 per cent more than in the previous 12 months. Monthly euro-denominated real estate fund flows have been negative since February 2023, said the data provider, which tracks open ended and exchange traded products. Commercial real estate can take years to buy and sell and is valued periodically, meaning funds' reported valuations can be slow to adjust in periods of uncertainty. The can encourage investors to pull cash from vehicles before the assets are fully marked down. Many also have significant exposure to office properties, the value of which have further suffered from shifting working patterns and more stringent environmental regulations. That's made it harder for fund managers to return capital to investors that want out, prompting some to close. St James's Place, a UK wealth manager, is winding down its real estate funds after significant withdrawals while Aegon closed funds after they failed to grow in size as much as expected. Goldman Sachs Group shuttered a global real estate securities fund last month. The product had lost money for investors over five years, according to its annual report. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Real estate has also been losing out to other asset classes seen as offering better or more secure returns, including infrastructure and private credit. Investors pulled about 500 million euros from property funds managed by DWS Group's alternatives business in the first quarter. 'European real estate will continue to be probably in slight outflow, given that we still have to get through the tail end of the notifications we received over the last 12 months,' chief executive officer Stefan Hoops said on a call with analysts last week. 'We are more optimistic on the future path.' Hopes of a rebound in real estate values this year after central banks began to cut interest rates have so far not played out in many sectors. Hotel valuations in the US fell 2.8 per cent hit last month, according to researchers Green Street, as international tourism tumbled. The overall index was down 0.5 per cent. European real estate funds now oversee about 156 billion euros compared with just under 200 billion euros in February 2023, according to Morningstar. BLOOMBERG
Bloomberg
25-04-2025
- Business
- Bloomberg
Trade War: China Vows to Ready Emergency Plan, Policy Tools
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, China has vowed to 'fully prepare' emergency plans for increasing external shocks, as a deepening trade war with Donald Trump puts pressure on the world's No. 2 economy. The decision-making Politburo led by President Xi Jinping also pledged to set up monetary tools and policy financing instruments to boost tech, consumption and trade, according to the official Xinhua News Agency. The Politburo readout said interest rates and banks' reserve equipment ratio will be cut when needed. Today's Guests: Hetal Mehta, Head of Economic Research at St James's Place & Tommy Stadlen, Co-Founder and General Partner of Giant Ventures. (Source: Bloomberg)
Times
24-04-2025
- Business
- Times
St James's Place blames tariff uncertainty for £1.6bn hit to funds
Investor fears over President Trump's protectionist trade policies were blamed for knocking £1.6 billion from Britain's biggest wealth manager in the first quarter. St James's Place's funds under management fell to £188.6 billion as of the end of March, from £190.2 billion three months earlier, as global markets slid amid mounting worries about US tariffs. This offset strong flows of new client money into the FTSE 100 company, which looks after the nest eggs of the affluent middle classes and attracted a net £1.69 billion during the period, exceeding the £1.37 billion City analysts had expected. Trump's return to the White House in January has heralded a fracturing of global trade, with the US imposing sweeping tariffs on most countries amid claims from the president
Reuters
24-04-2025
- Business
- Reuters
Assets of money managers Jupiter, St. James's Place fall amid US tariff woes
April 24 (Reuters) - British wealth managers Jupiter Fund Management (JUP.L), opens new tab and St James's Place (SJP.L), opens new tab reported a weak start to the fiscal year, as did their peers, citing volatility and recessionary fears triggered by U.S. President Donald Trump's erratic tariffs. Jupiter Fund Management estimated its assets to have fallen to 43 billion pounds ($57.09 billion) as of April 22 from 44.3 billion pounds in the first quarter ended March 31. here. "After the period end, we have seen elevated market volatility across asset classes as a result of trade policies," Jupiter said in a statement, adding that this will have a bearing on client risk appetite. While St James's Place did not disclose an April estimate, its assets had dropped to 188.59 billion pounds at the end of the March quarter from the 190.2 billion reported in December-end, hurt by a decline in global markets. ($1 = 0.7532 pounds)
Reuters
24-04-2025
- Business
- Reuters
UK's St James's Place reports $1.9 billion dip in assets on tariff woes
April 24 (Reuters) - British money manager St James's Place (SJP.L), opens new tab on Thursday said its first-quarter managed assets fell by 1.41 billion pounds ($1.87 billion) from the prior quarter amid volatility sparked by U.S. President Donald Trump's trade tariffs.
