Aegon

Kames Capital is launching an absolute return fund for Stephen Snowden and Colin Finlayson, its first new offering since its rebrand from AEGON Asset Management.

Kames Capital's bond managers Stephen Snowden and Phil Milburn have warned it is too early to start buying up cheap stock as we are only 75% of the way through the European sovereign debt crisis.

Aegon's asset management capabilities in the UK has officially been re-branded as Kames Capital today.

Innes McKeand has left his post as head of equities at Aegon Asset Management to move to Australia.

Aegon today confirmed the sale of its UK-based life and pensions business Guardian to European private equity group Cinven, for a total cash consideration of £275m.

Aegon Asset Management's new hire, Stephen Snowden, has warned the Italian bond market could face a Northern Rock-style collapse if investor sentiment weakens further.

Aegon's pre-tax underlying earnings have fallen by €13m in the second quarter, to €401m, after the business was impacted by falls in the dollar and hefty charges for administration problems.

Chaos in markets across the globe this week following heavy sell-offs prompted some commentators to warn of a new credit crunch, and left investors desperately seeking safe assets.

ON UK GROWTH

Aegon is set to sell its Guardian life insurance arm for £250m, according to the Sunday Times.