Paul Marshall's evolution from financier to media mogul

start a podcast: Investors are looking to artificial intelligence to power the next technological revolution—but are they right?in this episode money clinic podcast, Claire Barrett Sit down with the “AI maximalists” Ben RogoffChief Fund Manager Polar CapitalIts £3.5 billion Polar Capital Technology Trust. More than 80% of his fund's underlying investments are aimed at capturing future growth from artificial intelligence, and he explained the message of his investment strategy and responded to concerns about bubble valuations.at the same time Cliff Asness,Co-founder AQR Capital Managementtell my colleagues Unhedged Why he thinks artificial intelligence is not revolutionary for finance.

Hedge fund managers fund UK news

Put your hands gently on the podium, Sir Paul Marshall He calls the three enemies of the free market the “mutated brothers” of capitalism: the “cronies” who colluded in Davos, the monopolies, and the “woke” corporations.

The British multimillionaire amassed his fortune as co-founder of a London hedge fund Marshall WeissIn October last year, he delivered a speech at the inaugural meeting in the capital Alliance for Responsible Citizenship.Featuring controversial Canadian psychologist Jordan PetersonThe conference was the latest in a series of media events funded by Marshall, who has become a passionate champion of Britain's own version of America's culture wars.

as Daniel Thomas In this article I explore how, over the past four decades, the 64-year-old evangelical Christian and financier has positioned himself as a philanthropist, political donor and education reformer, pulling the strings behind the scenes at Westminster . Now he's trying to influence the national conversation through the media.

Last week, Marshall was forced to inject more money into his growing media empire.Account display All views – a business he co-owns – has provided a further £41m of funding to cover UK newsan upstart British broadcaster Rupert Murdochof fox news.

Marshall's supporters said his Arc speech set out his position as a defender of the free market and pointed to his 38 per cent stake in GB News and ownership of digital media group UnHerd as a commitment to free speech. “He calls himself a classical liberal,” said a close ally. “He is interested in opposing viewpoints and wants to have diverse and robust debates.”

But some media executives worried that the rest of the Arc meeting, which included a discussion of fringe, right-leaning ideologies, was more indicative of his political stance.

Dan and I bring you the inside story on how British journalism is pushing the boundaries of UK broadcasting rules, Marshall's surprising shift to right-wing politics, and what he'd do if he ran for the BBC telegraph newspapers and bystander If the magazine succeeds, he will become the most powerful British right-wing media tycoon since Rupert Murdoch.

Industry analysts say Marshall's growing media interest is more about influence than financial gain Claire Enders. They reflected “his style of conservatism and promoted the influence of those who adhered to conservatism in party politics.”

Read the full introduction here.If you want to remind yourself how Marshall and his long-time business partners Ian Wass Building their namesake firm into one of Europe's most successful hedge fund managers was something I explored in depth last year.

Ebden slashes jobs, costs and investor confidence

Stephen Bird full of ideas as he becomes Abledon He became CEO in September 2020.

The Scot was quick to tell staff about his ambitions for the asset manager, calling himself a “futurist”: one whose knowledge and research could help them, according to two people who took part in a late-2020 staff call. See the future.

In this analysis, Emma Dunkley and Sally Hickey Discover how, three and a half years later, Bird faces difficult questions about his future. The UK's largest remaining pure-play asset managers are racing to cut costs and develop new revenue streams to stem the flow of assets to rivals and low-cost passive managers. Some think it might even be time to break up the company.

Bird aims to cut expenses and increase revenue by expanding wealth management and selling more investments directly to consumers. The aim is for Abrdn to reduce its reliance on its £367bn investment business, which manages money for clients including insurance companies and pension funds.

At first, the plan showed promise: Abrdn Acquisition interactive investorThe UK's second-largest consumer investment website has cut costs on assets and groups, in part by restructuring or closing the company's more than 250 investment funds.

Bird has also sought to restructure other underperforming parts of the business, selling Abrdn's £7.5bn private equity arm and offloading its 50% stake in its joint venture with the bank Virgin Money — even though the cost was less than half of what was paid.

During Bird's tenure, the company cut jobs, costs, vowels in its name – as part of a much-derided rebrand – and even its offices in Scottish cities.

But analysts believe the shift is already in trouble. Since Bird took over, costs have remained high and the share price has fallen by a third, underperforming the FTSE 350 asset managers benchmark and the group has been dropped from the blue-chip FTSE 100 index twice.

Others question whether Ablan's management itself is the problem. “It's clear that a change of leadership is needed,” said Samuel JoharChairman of the Board Advisory Group Buchanan Harvey. “The only discussion is whether it should start with the chairman or the CEO.”

Read the full story here

Chart of the week

In November last year, Norway's $1.6 trillion sovereign wealth fund once again asked the government whether it could be allowed to invest in private equity.Given the scale, this could be a big deal Norges Bank Investment Management and its status as the world's largest and broadest de facto index fund.

Our friends are here Financial Times Alphaville Doing the math, a proposed gradual shift to a 3% to 5% allocation would mean nearly $80 billion—roughly the equivalent of TPG, Warburg Pincus or General Atlantic Investment Group. But to make the effort worthwhile, NBIM may target a 10% allocation over time, which would represent $160 billion in funding — equivalent to NBIM's entire private equity arm. black stone, KKRor Carlisle.

Lies, damn lies and return on investment statistics.In this must-read in-depth exploration of Financial Times Alphaville edit Robin Wigglesworth We weigh the increasingly relevant and controversial pros and cons of the private equity industry, trying to answer the $5 trillion question: Is private equity really worth it?

Meanwhile, global private equity groups hold a record 28,000 unsold companies worth more than $3 trillion, according to consulting firm data Bain & CompanyThe industry's annual report shows a sharp slowdown in trading has put pressure on investors looking to sell assets.

Five can't-miss stories from the week

UK savers will receive an extra tax-free allowance for holding UK shares as part of a package of measures including a public sale of UK shares NatWest Bank Designed to increase investment in London-listed companies. Meanwhile, wealthy foreigners express anger and 'frustration' at PM Jeremy Hunterdecided to abolish the colonial-era “non-dom” system that allowed them to avoid paying taxes on overseas income. Will the Budget make you better off?Here is our guide

British Asset Management Company Jupiter The firm is considering selling off £1bn of its own fund shares as a star manager prepares to leave the firm. david lewisA manager at Jupiter's Merlin range, which invests in other funds, said during an investor roadshow last week that the firm was considering switching from Ben Whitmoremission when he leaves Jupiter later this year. Nearly a fifth of the Merlin collection's equity assets, or £1bn, are held in two funds managed by Whittemore, illustrating the dangers of key man risk.

Hedge funds are threatening to pull out of investments in India over controversial new rules introduced in response to last year's short-seller attacks. Adani, one of the largest companies in the country.Indian market regulator rules Sebirequiring large foreign investors betting on Indian stocks, including hedge funds, to disclose all their end-investors, which the funds said would cause “serious practical difficulties” for the funds and mark a clear departure from international practice.

Stefanie Drewsthe head of Japan Nikko Asset Management, reflects on her career path and future working models in the sector. The interview with Drews, who is part of our latest reporting, is one of very few female executives in global asset management and the only foreign leader of a leading Japanese financial services firm. business women Reports on women at the top, workplace trends and career tips.

this Anglican Church Britain has been urged to target a new investment fund with a £1bn funding target to tackle its involvement in the transatlantic slave trade after previous commitments were deemed insufficient.an independent oversight group consisting of Bishop Rosemary Mallett It said the church had set aside £100m to address “past mistakes” but it was “not enough”.

at last

dreaming tuna fight club and Izakaya night Holland Park pop-up shop becomes permanent fixture Dream Supermarket.