M&G: FTSE 100 giant hits out at Rayner’s ground rent cap as it suffers loss

cityam

Sep 03

Rayner helped steer the ground rent cap plans. Asset manager M&G has swung to a loss driven by the Labour government’s introduction of a cap on existing ground rents.The FTSE 100 group hit out at the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.itiger.com/news/2664782106"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2664782106\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2664782106?lang=en_US&edition=fundamental","thumbnail":"https://www.cityam.com/wp-content/uploads/2025/06/GettyImages-2210815580.jpg?w=824&h=463&crop=1","is_english":true,"pubTime":"2026-09-03 14:41","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2664782106","market":"us","top_or_hot":-1,"title":"M&G: FTSE 100 giant hits out at Rayner’s ground rent cap as it suffers loss","media":"cityam","content":"<div>\n<p>Rayner helped steer the ground rent cap plans. Asset manager M&G has swung to a loss driven by the Labour government’s introduction of a cap on existing ground rents.The FTSE 100 group hit out at the ...</p>\n\n<a href=\"https://www.cityam.com/mg-ftse-100-giant-hits-out-at-rayners-ground-rent-cap-as-it-suffers-loss/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>M&G: FTSE 100 giant hits out at Rayner’s ground rent cap as it suffers loss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nM&G: FTSE 100 giant hits out at Rayner’s ground rent cap as it suffers loss\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-09-03 14:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/mg-ftse-100-giant-hits-out-at-rayners-ground-rent-cap-as-it-suffers-loss/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Rayner helped steer the ground rent cap plans. Asset manager M&G has swung to a loss driven by the Labour government’s introduction of a cap on existing ground rents.The FTSE 100 group hit out at the ...</p>\n\n<a href=\"https://www.cityam.com/mg-ftse-100-giant-hits-out-at-rayners-ground-rent-cap-as-it-suffers-loss/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FKU","symbol_name":"First Trust United Kingdom AlphaDEX Fund","start_time":0,"source_url":"https://www.cityam.com/mg-ftse-100-giant-hits-out-at-rayners-ground-rent-cap-as-it-suffers-loss/","article_id":"2664782106","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2025/06/GettyImages-2210815580.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/mg-ftse-100-giant-hits-out-at-rayners-ground-rent-cap-as-it-suffers-loss/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2664782106","pubTimestamp":1788417712,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Rayner helped steer the ground rent cap plans. Asset manager M&G has swung to a loss driven by the Labour government’s introduction of a cap on existing ground rents.The FTSE 100 group hit out at the government after it reported a 165m loss for the first six months of the year, driven by a 325m write-down eating into its bottom-line. In its core operating profit, a measure which excludes the write-down, the group posted a 15 per cent increase to 435m.Housing secretary Angela Rayner has been one of the key advocates for the 250 annual cap on pre-existing ground rents, which refers to annual fees paid by current leaseholders to a freeholder for the land beneath an older property.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FKU":"First Trust United Kingdom AlphaDEX Fund","FLGB":"Franklin FTSE United Kingdom ETF","BK4582":"ESG ETF-MSCI"},"translate_title":"M&G：富时 100 指数巨头因亏损而抨击雷纳的地租上限","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FLGB":1.5,"FKU":1.5},"content_text":"Rayner helped steer the ground rent cap plans. Asset manager M&G has swung to a loss driven by the Labour government’s introduction of a cap on existing ground rents.The FTSE 100 group hit out at the government after it reported a £165m loss for the first six months of the year, driven by a £325m write-down eating into its bottom-line. In its core operating profit, a measure which excludes the write-down, the group posted a 15 per cent increase to £435m.Housing secretary Angela Rayner has been one of the key advocates for the £250 annual cap on pre-existing ground rents, which refers to annual fees paid by current leaseholders to a freeholder for the land beneath an older property.\n\nThe move was part of a bill that added reforms to the Conservative government’s ground rent legislation.M&G’s shareholder fund holds approximately £722m in UK ground rent assets, which generate long-term income streams to pay future customer pensions. The group was forced to recognise the write-down after the cap limited the cash flows the freeholds could collect, slashing the value of the assets.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe firm’s top boss Andrea Rossi said: “We are disappointed that we have not been able to agree on a proportionate solution that works for all parties.”\n\nLabour’s solution is ‘disproportionate’Labour is targeting eventually phasing the cap down to £0. M&G said it had lobbied the government for a softer alternative, advocating for a cap tied to initial lease amounts with inflation-adjusted escalations as opposed to a blanket £250 cap that winds down.“While M&G fully supports the Government’s objective… the proposed solution is disproportionate,” the asset manager said.It added: “These changes, if implemented, would negatively impact savers and companies that have chosen to invest in UK assets; they would also set a worrying precedent, leading to consequences for the UK’s reputation as a stable investment location.”\n\nElsewhere, M&G posted a jump in total assets under management to £387.4bn, up from £375.9m at the end of the year.Net inflows reached £2.4bn, a hefty increase from just £300m the prior year. Meanwhile asset management inflows topped £2.2bn, with £1.3bn across private markets and £900m in public.“The strong financial position of M&G and our thoughtful planning mean that we are well positioned to absorb and manage the negative impacts generated by [the ground rent] legislation,” Rossi said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}