Latest news with #assetmanagement
BBC News
a day ago
- Business
- BBC News
Mole Valley District Council assets strategy to be considered
A group of Surrey councillors will be asked to approve a management strategy for land and buildings assets worth more than £200m in the coming Valley District Council owns or leases more than 250 assets as of 2023/24, generating £7.4m of income each year that it says is vital to service delivery.A report set to be considered at scrutiny and cabinet meetings on Tuesday and on 17 June, recommends councillors approve an asset management strategy for the next five years. Dorking and Leatherhead Leisure centres, Dorking Halls, Pippbrook House, and the Meadowbank Football Ground all feature among the assets. Part of the strategy centres around making informed decisions to maximise future income potential, whether through targeted investment or potential the financial aspect, the council said the assets were central to its aim of providing green and open spaces across the said the local economy was also boosted by crowd-drawing assets such as Dorking Halls and Deepdene Keira Vyvyan-Robinson, cabinet member for commercial assets and property, said the effective management of these assets was vital to supporting the "delivery of services that our residents and businesses reply upon".
CNA
3 days ago
- Business
- CNA
Japan's Dai-Ichi Life to take 15% stake in British insurer M&G
M&G has formed a partnership with Dai-ichi Life Holdings in which the Japanese life insurer plans to buy a 15 per cent stake, sending shares in the British insurer and asset manager up sharply. The partnership, which makes Dai-ichi M&A's biggest single shareholder, is expected to deliver at least $6 billion of new business flows for M&G and $2 billion of new business flows for Dai-ichi Life over the next five years, M&G said on Friday. The two companies will "pursue opportunities to co-invest in new asset management capabilities", and M&G will become Dai-ichi Life's preferred asset management partner in Europe as part of the deal. Andrea Rossi, group CEO of M&G, said that the partnership would enable it to capitalise on "significant private market opportunities across Europe" and give it greater access to the Japanese and Asian market. M&G shares rose more than 8 per cent in early trading, hitting their highest since June 2021. Under the deal, Dai-ichi Life will have the right to appoint a director to the board of M&G for as long as it holds at least a 15 per cent shareholding, the British company said. M&G reported an unexpected rise in annual profit in March, helped by cost-cutting and growth in its asset management business. Dai-ichi Life earlier in May said it would raise its stake in UK-based Capula Investment Management to 15 per cent, from just under 5 per cent, and in April announced an agreement to buy a 15.1 per cent stake in Australian investment manager Challenger for around $550 million.
Bloomberg
3 days ago
- Business
- Bloomberg
Dai-ichi Life to Buy 15% Stake in UK's M&G in Partnership Deal
M&G Plc has struck a deal with Dai-ichi Life Holdings Inc. that will see the Japanese insurer take a 15% stake in the UK money manager. London-based M&G will become Dai-ichi Life's preferred asset management partner in Europe, according to a statement on Friday. The partnership is expected to generate at least $6 billion in new business flows into funds managed by M&G and $2 billion likewise for Dai-ichi Life over the next five years.
Bloomberg
3 days ago
- Business
- Bloomberg
FTSE 100 Live: UK Stocks Set to Rise, Pound Slips Back Below $1.35
Life insurance and asset management firm M&G has struck a deal with Japan's Dai-ichi Life, under which the latter will buy a 15% stake in the UK company. Under the strategic partnership, M&G will be Dai-ichi's preferred asset management partner in Europe. The Japanese group intends to build the stake in M&G via on-market purchases, which will mean no change to M&G's current issued share capital.
Yahoo
3 days ago
- Business
- Yahoo
Japan's Dai-Ichi Life to take 15% stake in UK's M&G as part of strategic deal
(Reuters) -M&G said on Friday it has formed a strategic partnership with Dai-Ichi Life Holdings in which the Japanese life insurer plans to take a 15% stake in the British insurer and asset manager. The partnership is expected to deliver at least $6 billion of new business flows for M&G and $2 billion of new business flows for Dai-ichi Life over the next five years, it said. M&G said it would become Dai-ichi Life's preferred asset management partner in Europe as part of the deal. Dai-ichi Life will have the right to appoint a director to the board of M&G for as long as it holds at least a 15% shareholding, the British firm said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
