Shaw Capital Management News: Market
Report: Warning Over Europe Sees Schroders
Plummet
Stay away from mainland Europe – at least when investing in the asset managers – was the message being
spread yesterday, as Schroders was left near the foot of the...
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Shaw Capital Management News: Market
Report: Warning Over Europe Sees Schroders
Plummet
Stay away from mainland Europe – at least when investing in the asset managers – was the message being
spread yesterday, as Schroders was left near the foot of the top-tier index.
The group plummeted 31p to 1,446p after Deutsche Bank downgraded its rating to “sell” from “buy”,
suggesting that investors from the Continent have been the quickest to pull their money out of equity
funds in response to the recent global market sell-off.
City scribblers from the broker suggested that stocks in the asset management sector were in for a tough
time in general “once the exact scale of recent outflows from retail investors is disclosed”.
However, they
added that recent data has shown “behaviour… in different geographical locations has varied markedly”,
leaving Schroders – which they estimated was the most exposed to retail investors from mainland Europe
– as particularly vulnerable.
The analysts were much
Less
