Former Woodford trust initiates first holding since Schroders takeover
By Harriet Habergham, 25 May 21
Schroder UK Public Private Trust has invested ‘milestone’ stake in cybersecurity company Tessian
Schroders has made its first investment for the UK Public Private Trust since it took over management from Neil Woodford in December 2019.
The Schroder UK Public Private Trust (SUPP) announced on Tuesday it had initiated a $6.75m (£4.78m) holding in cybersecurity company Tessian.
SUPP, managed by Tim Creed (pictured) and Ben Wicks, invested in Tessian as part of its $65m Series C funding round “to accelerate its mission of quantifying and preventing human risk in enterprises across the globe”.
Global head of ASI to join Martin Gilbert on River and Mercantile board
Alex Hoctor-Duncan joins as an executive director responsible for strategic development
Alex Hoctor-Duncan is following in the footsteps of Martin Gilbert by moving from Aberdeen Standard Investments (ASI) to the board of River and Mercantile as an executive director.
Hoctor-Duncan (pictured) will be responsible for strategic development at River and Mercantile after he joins later this year at the end of his contract with ASI.
Valuable contribution
ASI said Hoctor-Duncan’s role will be taken over by Chris Demetriou, CEO UK, EMEA and Americas and Rene Buehlmann, CEO APAC, with the distribution strategy “aligned to their regional strategic priorities”.
Weekly outlook: SSE, British Land and Johnson Matthey full-year results
The key events for UK wealth managers for the week starting 24 May
Monday 24 May
Tuesday 25 May
-First-half results from Avon Rubber
-UK monthly government borrowing figures
-German Ifo business confidence survey
-US Case-Shiller house price index
-US new homes starts data
-Conference Board US consumer confidence reading
-In the US, quarterly results from Intuit, Agilent and Autozone
Wednesday 26 May
-SSE full-year results
According to AJ Bell investment director Russ Mould, shares in the power utility company are up by a quarter over the past year driven by the company’s decision to withdraw from the retail energy market and focus on power generation and transmission, as well as its drive to position itself as a leading provider of renewable energy. Its decision to increase its dividend by the rate of the retail price index to 2023 will have also boosted its share price.