The Arrangement constitutes a change of control of NexGen Financial Limited Partnership, the manager of the NexGen mutual funds, effective today.
Russia's financial crisis has seen the Russian equity market's total capitalization plummet to $345.9 billion from $647.4 billion, as measured by the RTS index. That makes all the country's public companies together worth about as much as
Swiss & Global Asset Management has changed the investment services provider for the majority of its funds domiciled in Switzerland and Luxembourg, which have $70 billion (€56 billion) of assets under management.
Mr Jenkins, brought in with a mandate to clean up Barclays after it was hit by the Libor interest rate manipulation scandal, has embarked on a strategy to shrink its investment bank and refocus on its core strengths.
Baring Alpha Funds an umbrella type investment company owned by Baring Asset Management has doubled its directors' fees from €25,000 to €50,000 to reflect their greater regulatory responsibilities.