Asset management roundup: Natixis to buy 25% stake in US manager WCM

first_imgPaul Black, co-CEO of WCM, said: “After a lot of thought and collective input, we concluded the smartest way to enhance our stability, and to guard our investment temperament, was to partner with a world-class global distribution platform.“For some time now we’ve known that diversifying the product mix within the firm – by raising the profile of our global strategy, our emerging markets strategy, and various other investment strategies – is the key to making this happen.”BMO drops F&C brandBMO Global Asset Management is to remove the F&C brand from all its products four years after its acquisition of the UK-based asset manager, it announcd today.All open-ended funds and corporate entities in Europe will adopt the BMO name, as will the direct-to-consumer channel, the Canadian investment group said.BMO GAM bought F&C Asset Management in 2014 and it has been expanding across Europe since then. It has opened seven offices in six countries, including France, Germany, Italy, Sweden, Spain and Switzerland.David Logan, head of distribution at BMO Global Asset Management, said: “Having more of our global and local capabilities under a single brand helps us to deliver on that as well as further simplifying the way we communicate with clients across all of our regions.”New signatories to UK gender diversity pushFranklin Templeton Investments, Intermediate Capital Group and Investec Asset Management are among 67 additional signatories to the UK government’s Women in Finance charter, according to an update published today. They signed up in the second quarter of the year, taking the total number of signatories to 272.Those signed up to the charter – an iniative of the UK treasury department – commit to four actions “to prepare their female talent for leadership positions”, according to the government.The four actions are:to have one member of the senior executive team responsible and accountable for gender diversity and inclusion;to set internal targets for gender diversity in senior management;to publish progress annually against the targets in reports on their websites; andto “have an intention” to ensure pay of the senior executive team is linked to delivery against the internal targets on gender diversity.The treasury is to update the signatory list with links to their targets in September. Natixis Investment Managers is to acquire a minority stake in $29bn (€25bn) WCM Investment Management and become its exclusive third-party distributor.Under the terms of the agreement, Natixis will acquire a 24.9% in WCM, which is based in Laguna Beach, California.The distribution arrangement means WCM will be added to Natixis’ global multi-affiliate platform, giving clients of the French asset manager access to a “high-conviction, high-active share investment manager with a distinctive investment culture and process”, according to a statement.WCM is employee-owned and runs concentrated equity portfolios covering global, emerging and small cap markets.last_img read more

Parents ‘bypassing GPs’ for non-urgent child treatment

first_img Tweet Sharing is caring! Share Share 19 Views   no discussionscenter_img Share By Michelle RobertsHealth reporter, BBC NewsFever was one of the 10 common problems parents sought help forRising numbers of parents are bypassing GPs and taking children to hospitals’ A&E departments for medical treatment, researchers say.Attendance for 10 common medical problems, including fever and rash, rose 42% in a decade at Nottingham’s Queen’s Medical Centre, they said.Difficulty accessing out-of-hours GP care may be to blame, they say in the Emergency Medicine Journal.The government said it was developing a strategy for out-of-hours care.It said it wanted to deliver high quality, urgent care services around the clock.During the past 10 years, the way the NHS provides care for common medical problems at night and at weekends has changed.GPs are no longer obliged to provide out-of-hours care and advice to worried parents, with large private companies now generally contracted to provide this instead.John Heyworth, president of the College of Emergency Medicine, says this has caused some confusion for patients and, in some instances, has made it harder for them to access care.“Parents have found in the last few years that accessing primary care is more difficult than previously.”He said more and more patients were turning to A&E departments.“We’ve been recognising this. Attendances are going up by between eight and nine per cent a year.”‘Shortcomings’In the study spanning a decade, the number of patients attending the children’s emergency department at Queen’s remained similar, but the number attending with common medical problems had risen by 42%.A total of 39,394 children were seen in 2007-8, of whom 14,724 had medical problems. This compared with 38,982 children seen overall in 1997, of whom 10,369 had medical problems.Dr Heyworth said the findings highlighted the shortcomings in the way services were currently organised.He said: “We need to have more integrated care rather than the confusing, expensive system we have currently.“It is very patchy and the public are frankly getting a raw deal.”The college is calling for GP services to be co-located next to A&E departments to deal with people who need to see a GP.A Department of Health spokesperson said: “Our vision is to replace the ad-hoc, uncoordinated system that has developed over more than a decade, and has been characterised by poor quality and too much variation.”Meanwhile, a study in the same journal reveals most UK hospital A&E departments are ill-equipped to treat children with serious head injuries.A confidential enquiry found 87% of hospitals in England, Wales, Northern Ireland and the Channel Islands and Isle of Man could not care for a critically ill child on site.The authors say transferring these sick children some miles to other hospitals could harm their survival chances as treatment delays can prove fatal.Around 210,000 children with head injuries attend hospital every year, and around 34,500 are admitted. A few children with serious head injuries will require emergency surgery and intensive care.But the way services are currently organised – with centralised intensive care services – means some patients need to be transferred to get the care they need. HealthLifestyle Parents ‘bypassing GPs’ for non-urgent child treatment by: – May 25, 2011last_img read more