Wel­comed split boosts stock

Finweek English Edition - - Marketplace -

In­vestec an­nounced it would be split­ting its as­set man­age­ment and bank­ing busi­nesses into two sep­a­rately listed busi­nesses. The mar­ket liked the news, push­ing the stock up al­most 10%. This would cer­tainly seem to be a good value un­lock. This trend is sim­i­lar to the process Old Mu­tual has been go­ing through. Fi­nan­cial in­sti­tu­tions seem to be fo­cus­ing on a sin­gle, core com­pe­tency. With a global foot­print and as­sets un­der man­age­ment (AUM) of some £109bn, the In­vestec as­set man­age­ment side of the busi­ness cer­tainly looks at­trac­tive and I am wait­ing for more de­tails ahead of the split.

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