techkenyot.com
techkenyot.com September 22, 2018


Lloyds pulls £109bn in funds from Standard Life Aberdeen on competition concerns

15 February 2018, 06:43 | Hattie Nash

Lloyds pulls £109bn in funds from Standard Life Aberdeen on competition concerns

Syndicate Post image

Royal Bank Of Canada upped their target price on shares of Standard Life Aberdeen PLC from GBX 500 ($6.60) to GBX 520 ($6.86) and gave the stock an "outperform" rating in a report on Monday, August 14th.

"Aberdeen has delivered good service and performance and Scottish Widows and Wealth would welcome their participation in the review if Standard Life Aberdeen is able to resolve the competition issue".

Scottish Widows and Lloyds Banking Group's Wealth businesses have terminated their partnership agreements with Aberdeen Asset Management following its merger with competitor Standard Life.

The bank had agreed to delay its decision for six months after the merger completed, an arrangement that only expired on Wednesday.

Scottish Widows and Lloyds said in a statement they had given notice to SLA of their plans to terminate the deal, kick-starting a 12-month process to find a replacement provider or providers. "I think that what we now do is sit down and work out what strategic advantages there might be in working. more closely with Lloyds or whatever it might be".

Kohl's (KSS) Given a $63.00 Price Target by MKM Partners Analysts
Citizens And Northern Corporation holds 29,769 shares or 1.03% of its portfolio. 2,620 were accumulated by Natl Bank Of Stockton. The stock of Kohl's Corporation (NYSE:KSS) has "Underperform" rating given on Wednesday, January 18 by Credit Suisse.

The asset management tie-up created a "material competitor", Scottish Widows chief executive Antonio Lorenzo said, adding "It is now appropriate to review our long-term asset management arrangements to ensure they remain up-to-date and that customers continue to receive good service and investment performance. We will be discussing the implications of this with Lloyds and Scottish Widows".

Aberdeen took on the deal to manage the £109bn of assets when it bought Scottish Life Investment Partnership from Lloyds in 2014.

Professional Pensions' sister publication Investment Week understands the majority of assets Aberdeen Standard Investments manages for Scottish Widows are invested in strategies such as passive equity and buy and hold United Kingdom fixed income.

When no agreement had been reached, Scottish Widows made a decision to walk away from their partnership with Standard Life Aberdeen and review their long-term asset management arrangements.

Commenting on the news, Laith Khalaf, senior analyst at Hargreaves Lansdown said: "This is a blow for Standard Life Aberdeen, but has been on the cards ever since the merger".

Rippon Responds on Social Media to Haters Hoping He'll Fail
USA figure skater Adam Rippon made a splash in his Olympic debut but, just a few years ago, he was struggling to make ends meet. Rippon, 28, who is the US's first openly gay Winter Olympics athlete, has impressed people with his frankness in PyeongChang.

The Edinburgh-based company was managing the funds because Lloyds had sold the fund management...

"Losing this book of business would strike a sour note for the Standard Life Aberdeen merger, and undermines some of the rationale for joining forces, which was built on scale".

"There is a possibility Standard Life Aberdeen may retain this chunk of assets, subject to further negotiations".

The decision to terminate the deal comes a week before Lloyds updates the market on its next three-year strategic plan on February 21 and SLA's full-year results on February 23.

This is DACA's 'last chance,' Trump says
President Donald Trump holds a meeting on his infrastructure initiative at the White House in Washington , D.C., on February 12. The administration reportedly is considering holding the parade on Veteran's Day, observed annually in the US on November 11.



Other News

Trending Now

New president to be sworn in today, says Speaker Baleka Mbete
In all these sins and shenanigans‚ the ANC was the shield that protected Jacob Zuma from being held accountable. The House is set to elect elect Cyril Ramaphosa as the new president.

Steve Wilks confirms Larry Fitzgerald will return in 2018
Arizona Cardinals wide receiver Larry Fitzgerald will return to the team for the 2018 season, the team announced Thursday. Fitzgerald will be working with a new coach and quarterback. "I'm excited about what the future holds", he said.

Sunjuwan Attack: Pakistan Will Pay For This Misadventure, Says Defence Minister
She said that the high number of ceasefire violations on the Line of Control are being done to assist infiltration into Kashmir. The police said terrorists of Jaish-e Mohammad were involved, who were killed after a almost 36-hour operation.

Trending Analyst Recommended Stocks: MannKind Corp. (MNKD), QUALCOMM Incorporated (QCOM)
This is something that Investors should look for in all the stocks they are trading and is an important indicator to keep tabs on. The 200-day moving average is a good measure for a year timeframe, while shorter moving averages are used for shorter timeframes.

Lloyd's and Kanye West make settlement in $10 million lawsuit
The case was dismissed by a California judge based on requests from lawyers on both sides. Kanye West just resurfaced on Instagram and has more personal news to celebrate.

IShares MSCI Poland Capped (EPOL) Rises 1.04% for Feb 12
The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend.

Sessions Lashes Out at GOP Senator Over Marijuana Policy Dispute
Our nominee to the National Security Division - the anti-terrorism division - was approved unanimously in the committee. Sessions issued the decree just days after California became the eighth state to officially end cannabis prohibition.

Rockets dump Kings for 10th consecutive win
Derrick Favors had 18 points and 12 rebounds, and Rudy Gobert added 14 points and 17 rebounds for Utah. "That's how fast it was". Ask anyone on the team if they believe they can get better after the break and the answer comes quickly - and often in one word.

Kadri, Andersen lead Leafs to fifth straight, signs of JVR's exit??
Toronto restored its two-goal lead when Kadri centred a pass to Marner, who beat Korpisalo on a one-timer to make it 4-2. Andersen also turned in a solid performance as the Maple Leafs closed out a ideal five-game homestand.

Facebook Messenger Kids comes to Android via Google Play
The thinking is that kids aren't ready to be on devices or messaging family and friends, so they shouldn't be doing this at all . Today, many young children use mom or dad's hand-me-down Android smartphone as their gaming device, or an Android tablet.