Fidelity – when asked about the high preference for domestic fixed income*, particularly in the UK and the rest of Europe – said these investors were focusing more on portfolio preservation than growth. “Both of those regions cited volatility as their top concern, likely driving interest toward fixed income,” it said. The asset manager also cited European institutions’ return expectations.“Surprisingly, both Europe and the UK expect domestic fixed income to outperform domestic equity – by around 75 basis points and 100bps, respectively,” it said. In the previous survey four years ago, only 14% of European institutions wanted to increase their exposure to domestic equities, while in the UK the figure came to 38%.Illiquid alternatives were also less popular, with only around 45% of respondents showing increased interest in the asset class.This year, none of the surveyed UK and other European institutions wants to reduce exposure to illiquid alternatives.The only other asset class none of the investors in the two regions wants to reduce is cash, which is expected to be increased in around 70% of portfolios in UK and the rest of Europe, Fidelity said. *The original version of the article referred to a preference for domestic equities. Eighty percent of European institutions (excluding the UK) are planning to increase their exposure to domestic fixed income over the next 12-24 months, according to a survey by Fidelity.Among UK investors, this figure was even higher, at 87%, while globally, just 64% of respondents said they would be increasing exposure to their country’s bonds.According to Fidelity’s Global Institutional Investor Survey, illiquid alternatives are also set to increase in more portfolios, with 93% of European institutions and 92% of UK investors planning to invest more in the asset class.Globally, 72% of respondents said they were keen on illiquids.
Share London-listed Rank Group Plc has confirmed that it will expand its Spanish gambling asset ‘YoBingo’ within Portugal’s regulated online gambling marketplace.Publishing Rank’s interim trading results last week, corporate governance highlighted YoBingo as a star performer for the firm’s digital division, generating net-gaming-revenues of £13 million combined with an operating profit of £1.6 million.Issuing a strategic update, Chief Executive John O’Reilly confirmed that Rank had expanded YoBingo provisions by launching supporting domain YoCasino.es, with the company monitoring further Portuguese market opportunities for its Spanish property.Marked as a core asset supporting Rank’s ongoing corporate transformation programme, YoBingo was acquired in May of last year for €21 million cash transaction.The acquisition would see Rank secure a ‘top-2 presence’ within the Spanish online bingo market, with YoBingo maintaining a reported 30% of market share.Paul Richardson, Managing Director, International, at Rank, said: “We are keen to replicate the success of our YoBingo business in other markets and we have identified Portugal as our first target market. We have submitted a licence application which is currently under review by the regulator and we hope to launch in calendar Q1 2020.” Altenar: Supporting expansion plans in Denmark and Portugal August 20, 2020 Share Related Articles Winamax maintains Granada CF sponsorship despite bleak Spanish outlook August 19, 2020 StumbleUpon Andrea Vota – Jdigital’s challenge of Spanish restrictions is led by logic and rationale August 13, 2020 Submit
VfL Bochum 1848, the German football team currently residing in the Bundesliga 2, has announced the signing of two FIFA players marking its move into esports.It becomes the first club from the second tier of German football to make a move into the burgeoning esports space. There’s now a fair few German clubs involved, and we would expect further activity across the FIFA space as a whole with rumours suggesting that every top tier football club across Europe may be required to have a FIFA player on their books. The two players signed by VfL Bochum 1848 esports come from STARK, arguably the leading agency for clubs looking to enter esports through the FIFA medium. The club will gain strategic and operational guidance from STARK, and STARK players Michael “MgaBit” Bittner and Daniel “DaniFink” Fink will represent the club. Michael “MegaBit” Bittner finished in the top eight at FIWC 2016, FIFA’s most prestiguous esports tournament. His other achievements include coming in the top four of the Virtuelle Bundesliga 2017 and runner-up in the FIWC Regional Finals against CodyDerFinisher (who became vice world champion on XBOX). Daniel “Dani Fink” Fink played for VfL Wolfsburg back in 2015, becoming one of the first players to represent a traditional sports club. He finished in the top six of the Virtuelle Bundesliga this year, and top three the year before. He also competed in the FIWC Regional Finals this year but failed to make a mark. Esports Insider says: It really wouldn’t be too surprising if we see more and more clubs enter the space now. As we mentioned, there’s murmurs of it becoming compulsory for top tier clubs to have FIFA players. Bochum aren’t in the top tier but have already made their move with two impressive signings. Congratulations to the players, STARK and Bochum.