Fundweb
Rob Langston Editorial, Fundweb.co.uk

Rob Langston is the associate editor on Fundweb.

Stories by this author.

Barclays to sell entire BlackRock stake

21 May 2012

Barclays is to sell its entire holding in BlackRock through a registered offering and a related buyback by the asset manager.
Martin Currie opens Asia fund to investors

21 May 2012

Martin Currie has opened its Martin Currie Asia Long Term Unconstrained Sicav – managed by Jason McCay and Andrew Graham – to investors.
All asset classes growing, says Camradata

21 May 2012

All asset classes have grown, in absolute returns, during the first quarter as expectations of a long-term recovery persist, according to data provider Camradata.
Henderson to launch funds business in Australia

21 May 2012

Henderson Global Investors is to develop a funds management business in Australia under the management of former First State UK chief Rob Adams.
Adviser use of multi-managers soars

Fund Strategy - 21 May 2012

Fewer financial advisers are picking individual funds for clients, while the use of multi-manager funds rocketed during the second quarter of the year, research by the Platforum has revealed.
F&C targets £100m for US equities trust launch

Fund Strategy - 21 May 2012

F&C Asset Management aims to raise £100m for the launch of the F&C Barrow Hanley US Trust, an American equities investment trust with a value bias. The fund will be managed by the American asset manager Barrow Hanley, Mewhinney & Strauss, a specialist active manager of American value-orientated equity funds.
Managers want more measures for growth

Fund Strategy - 21 May 2012

More measures to promote growth are needed from governments around the world, according to the latest Bank of America Merrill Lynch (BofA ML) fund manager survey.
Manager change for t1ps funds

18 May 2012

The Share Centre sister company Sharefunds is seeking new managers for the SF t1ps Smaller Companies Growth and SF t1ps Smaller Companies Gold funds.
MAM changes Miton funds sectors

18 May 2012

MAM Funds has announced sector changes for its multi-manager Miton fund range to take place from June 18.
Cameron: Eurozone at crossroads

17 May 2012

British prime minister David Cameron has warned the eurozone is at a crossroads with the survival of the single currency in question.
F&C to launch US value investment trust

17 May 2012

F&C Asset Management has announced it is aiming to raise £100m with the launch of the F&C Barrow Hanley US Trust, a US equities investment trust with a value bias.
Former Close executives set up investment manager

17 May 2012

Ex-Close Asset Management senior executives have set up investment management business TIME Investments.
Private equity group 3i names chief executive

17 May 2012

Simon Borrows is to succeed Michael Queen as chief executive of private equity group 3i.
Euro area inflation drops in April

16 May 2012

Euro area annual inflation dropped to 2.6% during April, down from 2.7% in March, with a corresponding decrease in annual inflation figures for the European Union as a whole.
Santander appoints CIO as Bearman leaves

16 May 2012

Santander Asset Management has named Butterfield Bank’s David Stewart as its chief investment officer following the departure of John Bearman.
More growth stimulus needed, say fund managers

15 May 2012

More measures to promote growth are needed from governments around the world, according to the latest BofA Merrill Lynch fund manager survey.
IMA chief Richard Saunders to step down at end of 2012

15 May 2012

Richard Saunders, chief executive of the Investment Management Assocation (IMA), is to step down at the end of 2012.
F&C mulls fund launches in consumer push

15 May 2012

F&C Asset Management is considering the launch of further investment trusts and expanding its current direct-to-consumer offering, as part of its ongoing consumer review.
Insight currency head Thomas to depart

14 May 2012

Dale Thomas, head of currency at BNY Mellon subsidiary Insight Investments, is to leave the asset manager.
Carmignac expands sales team

14 May 2012

Carmignac Gestion has added to its London-based sales team with the appointment of Nick White as sales manager.
Standard Life trust makes manager change

14 May 2012

The Standard Life Equity Income investment trust has promoted Thomas Moore to lead manager on the closed-end fund.
Regulator fines Martin Currie for poor advice

Fund Strategy - 14 May 2012

The Financial Services Authority (FSA) has fined Martin Currie Investment Management £3.5m for failing to manage a conflict of interest between two clients.
Skandia adds BlackRock to best ideas fund

11 May 2012

Skandia has added BlackRock to its Skandia European Best Ideas fund with a €34 million (£27.3m) mandate.
European fixed income investors bullish on high yield

10 May 2012

The Fitch Ratings quarterly credit market investor survey has revealed European asset managers are more bullish about the prospects for high yield securities than other sectors.
BlackRock appoints co-manager for corporate bond fund

10 May 2012

Ben Edwards has been named co-manager of the £132m BlackRock Corporate Bond fund alongside Simon Blundell.
FSA fines Martin Currie £3.5m over client conflict

10 May 2012

The Financial Services Authority (FSA) has fined Martin Currie Investment Management £3.5m for failing to manage a conflict of interest between two clients.
IMA calls on flexibility for smaller alternative managers

10 May 2012

The Investment Management Association (IMA) has lobbied HM Treasury over new rules for smaller alternative investment fund managers.
Old Mutual funds grow in Q1

10 May 2012

Old Mutual has reported a 6% increase in funds under management to £116.1 billion in its long-term savings division, which includes Skandia.
Aviva Investors appoints interim chief

10 May 2012

Aviva has named Paul Abberley as interim chief executive for Aviva Investors, following the departure of Alain Dromer last month.
Two clients cause outflows at RLAM

10 May 2012

Royal London Asset Management has reported net new business outflows of £495m during the first quarter of 2011.
Eurozone policies unlikely to solve problems, say asset managers

9 May 2012

Measures to tackle the eurozone debt crisis are unlikely to solve the issues facing the currency union, according to a survey of European fixed income managers.
Platform assets grow by 9% in Q1

9 May 2012

Fund research house Fundscape has revealed platform assets under administration (AUA) grew by 9% during the first quarter of the year to £189 billion.
Friends Life asset manager on track for launch

9 May 2012

Friends Life says its asset management arm – Friends Life Investments – is on track to launch later this year.
F&C chief Grisay retires as Bramson takes over

9 May 2012

F&C Asset Management chief executive Alain Grisay has retired following the company’s annual general meeting, with executive chairman Edward Bramson taking the reins.
iShares launches European country-focused bond funds

9 May 2012

Exchange-traded product provider iShares has launched a range of funds offering exposure to government bonds from a range of European governments.
M&G inflows increase during first quarter

9 May 2012

Asset manager M&G has reported a 5% year-on-year increase in net inflows during the first quarter of 2012, rising to more than £1.7 billion.
M&G dominates retail sales in Q1

9 May 2012

M&G Investments has reported net sales of just under £1.4 billion during the first quarter of 2012, overshadowing its peers in the fund management industry, according to research by Fundscape.
Swip adds to global strategy team

8 May 2012

Scottish Widows Investment Partnership (Swip) has named Kenneth Anderson as an investment director within its global strategy team.
Alternatives should be available to high net worths, says hedge fund body

8 May 2012

Hedge fund trade body - the Managed Funds Association (MFA) - says alternative investment funds should be made availabe to high net worth individuals in a letter to HM Treasury.
Warren Buffett firm Berkshire Hathaway reports $3.25bn Q1 earnings

8 May 2012

Billionaire investor Warren Buffett’s firm Berkshire Hathaway reported net earnings of $3.25 billion (£2 billion) during the first quarter of 2012.
Manufacturers predict export rise in 2012

8 May 2012

A survey by manufacturers organisation EEF and Royal Bank of Scotland has forecast a rise in exports during 2012.
Jupiter launches Dynamic Bond fund

8 May 2012

Jupiter Asset Management has launched the Jupiter Dynamic Bond fund for manager Ariel Bezalel.
Fitch: Hollande election has no implications for AAA France

8 May 2012

The election of Francois Hollande will not have implications for France’s AAA rating, according to credit ratings agency Fitch Ratings.
Europe equity fund outflows hit $1bn for sixth week, says EPFR Global

4 May 2012

Redemptions for Europe equity funds hit $1 billion (£619m) for the sixth week running in the week to May 2, according to fund flow data provider EPFR Global.
LGIM's head of equities to join Tesco pension arm

4 May 2012

Ian King, head of European equities at Legal & General Investment Management, has joined a newly-established in-house investment team for Tesco to manage its pension scheme.
Threadneedle leapfrogs Fidelity in March retail fund rankings

4 May 2012

Threadneedle overtook Fidelity Worldwide Investment in the retail funds under management rankings during March.
Madoff fraud shows Ucits flaws, says EU commissioner

4 May 2012

Packaged retail investment products (Prips) and flaws in the Ucits regime are among key initiative areas for the European Union, according to commisioner Michel Barnier.
FCA will follow money to inform regulation, says Wheatley

4 May 2012

Martin Wheatley, managing director at the Financial Services Authority (FSA), says successor regulator the Financial Conduct Authority (FCA) will follow money to inform its regulation strategy.
Offshore fund sales almost double in March

4 May 2012

Sales of offshore funds to UK investors almost doubled between February and March, reaching their highest levels since October 2011.
RBS continues wealth business restructure ahead of RDR

4 May 2012

Royal Bank of Scotland Group (RBS) is to continue with the “reshaping” of its UK wealth business ahead of the retail distribution review (RDR) implementation date.
Nerves fuelling strategic bond sales, says AWD Chase de Vere's Connolly

3 May 2012

News of the Sterling Strategic Bond sector’s dominance in net retail sales suggests investors are still too nervous about equity funds, says AWD Chase de Vere’s Patrick Connolly.
Strategic bond funds top sector sales in March

3 May 2012

The Sterling Strategic Bond sector was the biggest selling sector in March, according to the Investment Management Association (IMA), as fixed income funds remained the dominant asset class.
IMA: ISA sales fall by almost £2bn for 2011-12

3 May 2012

The Investment Management Association (IMA) has revealed net sales of individual savings accounts (ISAs) dropped by almost £2 billion for the 2011-12 tax year.
Investec energy duo exit "a blow", says Hargreaves Lansdown

3 May 2012

The impending departure of Mark Lacey and Jonathan Waghorn from Investec has been described as a “blow to the firm” by Hargreaves Lansdown’s senior analyst Meera Patel.
Bestinvest downgrades property funds

3 May 2012

Bestinvest has downgraded a number of property funds after changing its current stance on how best to access the asset class.
Aberdeen fixed income head joins JP Morgan

2 May 2012

JP Morgan Asset Management has appointed Charles McKenzie as head of client portfolio management for Europe, Middle East & Africa in the global fixed income team.
JP Morgan names lead manager for Japan Smaller Companies trust

1 May 2012

JP Morgan Asset Management has named Shiochi Mizusawa as lead manager on the JP Morgan Japan Smaller Companies trust.
Advisory firm fined by FSA over client money failings

1 May 2012

The Financial Services Authority (FSA) has fined financial planning and portfolio management firm Christchurch Investment Management and its compliance manager over client money failings.
Fixed income fund inflows top £30bn in Q1

1 May 2012

Fixed income funds saw more than €37 billion (£30.3 billion) in new investor assets during the first quarter of the year, according to Morningstar’s European asset flow data.
Premier makes global equities hire

1 May 2012

Premier Fund Managers has recruited Utilico’s James Smith to its global equities team.
Treasury minister: Tougher financial services regulation needed

30 Apr 2012

Danny Alexander, chief secretary to the Treasury, has called for “tougher” regulation of financial services around the world, in an interview with Bloomberg TV.
Alliance Trust poaches Swip manager

30 Apr 2012

Alliance Trust Investments is reported to have hired Scottish Widows Investment Partnership (Swip) bond manager Juan Valenzuela.
Goldman fund downgraded over turnover concerns

30 Apr 2012

The Goldman Sachs US Equity Portfolio fund has been downgraded by Morningstar OBSR, in its latest review of offshore funds.
Prudential Regulatory Authority to leave Canary Wharf

30 Apr 2012

The Prudential Regulatory Authority (PRA), which will replace the Financial Services Authority as an overseer of banks & building societies, will leave its Canary Wharf offices.
FSA launches Arch cru redress consultation

30 Apr 2012

The Financial Services Authority (FSA) has launched a three-month consultation on establishing a £100m redress scheme for Arch cru investors.
Morningstar OBSR puts Investec funds under review

30 Apr 2012

Fund rating agency Morningstar OBSR has put the Investec Global Energy fund under review after it emerged managers Jonathan Waghorn and Mark Lacey are to leave in the summer.
Aberdeen reports half-year profit rise

30 Apr 2012

Aberdeen Asset Management has reported a 14% year-on-year rise in underlying pre-tax profits to £162.2m for the six months to March 31, while assets under management increased to £184.7 billion.
Carmignac Gestion targets British retail market

Fund Strategy - 30 Apr 2012

The European asset manager Carmignac Gestion has opened its first office in London and set its sights on the British retail market.
Watchdog set to ban retail promotion of TLPIs

Fund Strategy - 30 Apr 2012

?The FSA is to go ahead with plans to ban the promotion of traded life policy investments (TLPIs) to retail investors.
US should get its own house in order

27 Apr 2012

A proposed piece of US legislation could wreak havoc for many asset managers in the UK and Europe when it is brought in at the end of the year.
EU regulator rails against commission

27 Apr 2012

Steven Maijoor, chair of the European Securities & Markets Association, has highlighted commission bias, unsuitable products and quality of advice as issues facing investors.
Schroders to acquire stake in Indian asset manager

27 Apr 2012

Schroders is to acquire a 25% stake in Indian asset manager Axis Asset Management Company from Axis Bank.
More powers to regulate shadow banking, argues European commissioner

27 Apr 2012

Michel Barnier, the European commissioner for international markets and services, has argued for greater powers for regulators to oversee the shadow banking system.
EU politicians split on adviser commission ban

27 Apr 2012

The European Union’s Economic & Monetary Affairs Committee has been split on whether a ban on adviser commission would protect investors or not.
Portuguese bond issue oversubscribed

26 Apr 2012

A €2.7 billion (£2.2 billion) 10-year bond issue by the European Union to be on-lent to Portugal, was almost three times oversubscribed.
Investec global energy manager pair to leave

26 Apr 2012

Investec Asset Management has confirmed the departures of Mark Lacey and Jonathan Waghorn, co-portfolio managers of the Investec Global Energy strategies, in July.
Quilter expands investment team

26 Apr 2012

Quilter has added to its London investment management team with the appointment of former Kleinwort Benson colleagues Di Griffin and Dan Weale as vice presidents.
European regulator to consult on AIFMD

26 Apr 2012

The European Securities & Markets Authority (Esma) is to consult with non-EU supervisors of funds and managers who will be subject to the Alternative Investment Fund Managers Directive (AIFMD).
Old Mutual and Skandia to merge

26 Apr 2012

Old Mutual Asset Managers UK and Skandia Investment Group (SIG) are to be merged into a single business, to be headed by Julian Ide.
Barclays adjusted pre-tax profits jump in Q1

26 Apr 2012

Barclays reported that adjusted pre-tax profits rose by 22% to £2.5 billion in Q1, “driven by strong performances” in retail and business banking, and corporate and investment banking.
Transactions tax should go ahead without support, argue EU politicians

25 Apr 2012

The European Parliament’s Economic & Monetary Affairs Committee has argued for a proposed financial transactions tax that will capture more traders and make evasion unprofitable.
Reuters: HSBC to cut 2,000 jobs

25 Apr 2012

HSBC is set to cut 2,000 jobs in a move to cut costs and improve profitability, according to a report by Reuters.
Skandia swaps asset managers on US fund

25 Apr 2012

Skandia Investment Group has awarded a $175m (£108.6m) mandate to US asset manager 300 North Capital for its Skandia US Capital Growth fund.
UK in recession as economy shrinks again

25 Apr 2012

The UK economy has entered recession after GDP shrunk by 0.2% during the first quarter of 2012, according to the Office for National Statistics (ONS).
Carmignac to launch fund range for UK

24 Apr 2012

European asset manager Carmignac Gestion is to launch a range of 10 funds for UK investors as it opens its London office.
Jupiter launches strategic reserve fund

24 Apr 2012

Jupiter Asset Management has launched the Jupiter Strategic Reserve fund to be managed by multi-asset pairing Miles Geldard and Lee Manzi.
Chancellor shouldn't throw good money after bad, says IoD

24 Apr 2012

Graeme Leach, the chief economist at the Institute of Directors (IoD), says chancellor George Osborne’s latest £10 billion loan to the International Monetary Fund (IMF) “is concerning”.
Aberdeen makes non-exec appointment

24 Apr 2012

Aberdeen Asset Management has appointed real estate investment trust (Reit) specialist Richard Mully as non-executive director.
Sants: 6% of significant influence applications withdrawn over serious concerns

24 Apr 2012

Hector Sants, chief executive of the Financial Services Authority (FSA), says approximately 6% of applications for significant influence roles have been withdrawn over serious concerns.
FSA contacts more than 75,000 people over investment scams

24 Apr 2012

The Financial Services Authority (FSA) is contacting more than 75,000 people after uncovering lists from landbanking and “worthless, sometimes non-existent” share-selling companies.
Aifa: Three-quarters of adviser firms ready for RDR

24 Apr 2012

Three quarters of advisers believe their firm will be ready for the implementation of the retail distribution review (RDR), according to a survey by the Association of Independent Financial Advisers (Aifa).
Buffett firm has rating affirmed

24 Apr 2012

Fitch Ratings has affirmed the AA- issuer default rating of investment veteran Warren Buffett’s firm Berkshire Hathaway.
Distribution a “stumbling block” for competition

23 Apr 2012

Distribution of retail investment products is a “major stumbling block to competition” and needs “substantial reform”, according to two European think tanks.
Barings plans to close North America fund

23 Apr 2012

Baring Asset Management is to seek regulator and investor approval to close its offshore $115.9m (£71.9m) Baring North America fund, managed by Oppenheimer Funds.
Threadneedle names successor for House funds

23 Apr 2012

Asset manager Threadneedle has named Henry Stipp as manager of the Threadneedle Emerging Market Bond fund and other funds previously managed by Richard House.
Barclays and Gam launch alternatives fund

23 Apr 2012

Barclays and Gam have launched a multi-strategy fund, which will invest in a range of the former’s alternative indices.
Witan Pacific replaces Nomura with two managers

23 Apr 2012

The Witan Pacific investment trust has dropped Nomura Asset Management in favour of two new additions to its multi-manager line-up.
Africa fund to launch for Franklin Templeton's Mobius

23 Apr 2012

Franklin Templeton is to launch an African fund for star emerging markets manager Mark Mobius.
Some products face '5% test' to be equity Isas, taxman warns

Fund Strategy - 23 Apr 2012

New guidance from HM Revenue & Customs (HMRC) has posed questions over whether some structured products may be ineligible for inclusion in stocks & shares Isas.
Aviva Investors group product director leaves

20 Apr 2012

Shaun Meadows, group product and channel strategy director at Aviva Investors, has left the group “to pursue other opportunities”, according to the group.
Boutique Oriel Asset Management to launch Ucits IV fund

20 Apr 2012

Oriel Asset Management – the asset management boutique of Oriel Securities – is to launch a Ucits IV fund to be managed by founding partner David Urch.
Securities Trust of Scotland drops performance fee for Martin Currie

20 Apr 2012

The board of the Securities Trust of Scotland has renegotiated the management fees paid to Martin Currie to manage the investment trust.
Treasury Committee concerned by Bank of England governor stories

20 Apr 2012

Andrew Tyrie, chair of the Treasury Committee, has written to chancellor George Osborne over reports surrounding Mervyn King’s replacement as governor of the Bank of England.
ECB member says debt crisis responsibility with euro governments

20 Apr 2012

European Central Bank (ECB) board member Peter Praet says responsibility for the resolution of the sovereign debt crisis lies with euro area governments.
Merchant House shares suspended following internal capital review

20 Apr 2012

Merchant House Group has had its shares suspended from trading by its own request.
Cofunds reaches assets record as net sales increase 55%

19 Apr 2012

Cofunds saw assets under administration (AUA) grow by 18% to £35.8 billion during 2011, after reporting a 55% rise in net sales on 2010.
Huet Capital rebrands as Host

19 Apr 2012

Huet Capital has been rebranded as Host Capital to reflect the growth of its core authorised corporate director business.
Alain Dromer to leave Aviva Investors

19 Apr 2012

Alain Dromer, chief executive of Aviva Investors, is set to leave Aviva as part of the group’s “new, flatter organisation”.
iShares launches emerging market corporate bond ETF

19 Apr 2012

Exchange-traded fund (ETF) provider iShares has launched the iShares Morningstar USD Emerging Markets Corporate Bond fund.
Hargreaves Lansdown sees £1bn inflows in Q1

19 Apr 2012

Hargreaves Lansdown reported £1 billion in net inflows during the first quarter of the year, as assets under administration grew by £2.6 billion to £26 billion.
HMRC ISA guidance could target structured products

18 Apr 2012

The latest stocks & shares individual savings account (ISA) guidance from HM Revenue & Customs (HMRC) could affect the holding of structured products in the tax wrappers.
Aberdeen comes out top in investment trust confidence

18 Apr 2012

Aberdeen Asset Management has scored the highest confidence in an investment trust confidence survey by financial marketing firm dianomi.
Iveagh scraps performance fee

18 Apr 2012

Fund manager Iveagh has removed the performance fee on the Iveagh Wealth fund, in a move that will see the fund’s total expense ratio reduced.
Franklin Templeton makes changes to UK fund range

18 Apr 2012

Franklin Templeton is to merge two funds away and close another two following a comprehensive review of its product range.
VCT fundraising reaches lowest level since crisis

18 Apr 2012

Fundraising for venture capital trusts reached its lowest level since the credit crisis, during the 2011/2012 tax year.
Schroders to launch global multi-asset income fund

18 Apr 2012

Asset manager Schroders has launched the offshore Schroder ISF Global Multi-Asset Income fund.
Inflation to rise higher than projections, says Bank of England

18 Apr 2012

Inflation is likely to exceed projections made in the Bank of England’s most recent inflation report, the latest minutes from the Monetary Policy Committee has revealed.
Allianz to launch risk-rated fund range

18 Apr 2012

Allianz Global Investors is seeking regulatory approval to launch a range of risk-rated funds.
Some funds may be ineligible for ISAs post-RDR, says HMRC

18 Apr 2012

HM Revenue & Customs (HMRC) has warned some funds may not be eligible for inclusion in stocks & shares individual savings accounts (ISAs) after the implementation of the retail distribution review (RDR).
Buffett to continue investing despite cancer diagnosis

18 Apr 2012

Veteran billionaire investor Warren Buffett says he will continue with his daily routine depite having been diagnosed with stage one prostate cancer.
Vodafone takes on Indian government over tax

17 Apr 2012

Vodafone has served notice against the Indian government over proposals put forward in the latest finance bill.
Swip to pull out of UK Select Trust

17 Apr 2012

Scottish Widows Investment Partnership (Swip) has informed the board of the UK Select Trust that it is to terminate its investment management agreement.
Inflation increases to 3.5% in March

17 Apr 2012

Inflation in the UK increased to 3.5% during March, as upward pressures on inflation came from food, clothing and the recreation and culture sectors.
T Bailey adds global thematic strategy to Growth fund

16 Apr 2012

T Bailey has added a ‘global thematic’ section to the £162.5m T Bailey Growth fund to take advantage of globalisation.
Spanish bond yields jump on bailout concerns

16 Apr 2012

Spanish 10-year bond yields have jumped above 6% on concerns on Monday that the country could be forced to seek a bailout.
Barings cautious on Egypt short-term prospects

16 Apr 2012

Barings fund manager Ghadir Abu Leil-Cooper has warned on the short-term prospects for the Egypt, despite very strong performance in the first quarter of 2012.
EU derivatives rules negative for asset managers, says Moody's

16 Apr 2012

Ratings agency Moody’s has warned legislation for derivatives approved by the European Parliament could increase costs for asset managers.
Kestrel launches global multi-asset fund

16 Apr 2012

Kestrel Investment Partners has launched its global multi-asset fund, Kestrel Global Portfolio, under the management of John Ricciardi.
Bolton to stay at China investment trust longer

16 Apr 2012

The Fidelity China Special Situations investment trust has confirmed that manager Anthony Bolton will be extending his minimum management tenure by a further year.
S&P affirms UK’s AAA rating

13 Apr 2012

Ratings agency Standard & Poor’s (S&P) has affirmed the UK’s AAA sovereign debt rating, highlighting its “wealthy, open and diversified economy”.
BlackRock to make changes to Global Equity fund

13 Apr 2012

BlackRock is to make changes to the investment objective and policy of the BlackRock Global Equity fund, following a regular review of the range.
Swip UK small cap directors to stay

13 Apr 2012

Scottish Widows Investment Partnership (Swip) investment directors for UK small caps Andrew Paisley and Gregor MacDonald will remain at the asset manager, following the overhaul of its equities division.
Government's Lloyds strategy under question, says Mumford

13 Apr 2012

Cavendish Asset Management’s Paul Mumford has questioned whether the government’s strategy to Lloyds Banking Group will “secure the right amount of bang for the taxpayers buck”.
Skandia calls for investment suitability guidance to be extended

13 Apr 2012

Investment suitability guidance from the Financial Servives Authority (FSA) should be extended to include volatility and investment risk, according to Skandia Investment Group.
Kames switches Inflation Linked fund to new sector

13 Apr 2012

Kames Capital has moved its £257.4m Kames Inflation Linked fund to the IMA Mixed Investment 0-35% Shares sector to better reflect the fund’s composition.
Morningstar OBSR to review Threadneedle fund rating

13 Apr 2012

Morningstar OBSR is set to review the ‘bronze’ rating of the £706.3m Threadneedle Emerging Market Bond fund, after news of a restructure that will see manager Richard House leave the company.
Swip cuts 23 roles in equities overhaul

13 Apr 2012

Scottish Widows Investment Partnership (Swip) is to cut 23 roles as part of a move to reposition its £54 billion equities business.
Goldman Sachs pays $22m to settle with US regulator

13 Apr 2012

Goldman, Sachs & Co has paid $22m (£13.8m) after it was charged by the Securities & Exchange Commission (SEC) over analyst “huddles”.
Hargreaves Lansdown attacks Standard Life fund manager

12 Apr 2012

Hargreaves Lansdown has criticised Caspar Trenchard, fund manager at Standard Life Investments, and the performance of the SLI UK Opportunities fund.
NBNK steps in for Lloyds branch sale

12 Apr 2012

NBNK Investments has submitted a revised proposal to Lloyds Banking Group to acquire hundreds of branches, as questions remain over the bid from the Co-op Bank.
Exchange-traded product flows reach $67.3bn in Q1

12 Apr 2012

The exchange-traded product (ETP) industry recorded net new assets of $67.3 billion (£42.2 billion) during the first quarter of the year, a 50% increase on the previous quarter, according to iShares.
Ashmore assets grow by $5.4bn in Q1

12 Apr 2012

Emerging markets asset manager Ashmore saw assets under management (AUM) grow by 9.1% to $65.9 billion (£41.4 billion), during the first quarter of 2012.
Ashcourt Rowan appoints investment chief

11 Apr 2012

Ashcourt Rowan Asset Management has named Toni Meadows as its chief investment officer.
Skandia awards £20m mandate to Aubrey

11 Apr 2012

Skandia Investment Group has awarded Andrew Dalrymple, formerly a fund manager at First State, a £20m mandate on its £1 billion Skandia Global Dynamic Equity fund.
Bond fund sales highest since 2005, Lipper reports

11 Apr 2012

Bond fund sales in Europe hit their highest level since July 2005 in February, with data provider Lipper reporting €19.5 billion (£16.1 billion) in sales.
Moody's puts Man Group on review for possible downgrade

11 Apr 2012

Moody’s has put asset manager Man Group’s ratings on review for a possible downgrade, after highlighting a number of concerns.
EU and US to create "open and stable investment climate"

11 Apr 2012

The European Union and the United States have agreed on “ambitious” investment principles designed to create and maintain “stable, predictable and transparent investment regimes”.
Jonathan Ruffer steps back from management

10 Apr 2012

Jonathan Ruffer has stepped back from direct involvement in the management of the Ruffer Investment Company.
FSA downgrades investment rate of returns

10 Apr 2012

The Financial Services Authority (FSA) has recommended projected rates of return be revised downwards following independent research by PricewaterhouseCoopers.
Alliance Trust chairman ‘should be open-minded’

Fund Strategy - 9 Apr 2012

Winterflood Investment Trusts has called for a more open-minded attitude from Karin Forseke, the chairman of Alliance Trust, after she rubbished suggestions that the trust should have a different investment manager.
FSA to get tough on ‘poor practice’

Fund Strategy - 9 Apr 2012

The FSA has warned it will make full use of supervision powers against firms who demonstrate poor practice with regard to centralised investment propositions, such as discretionary management and model portfolios.
UK has avoided technical recession, finds Niesr

5 Apr 2012

The National Institute for Economic and Social Research (Niesr) says the latest GDP data suggests that the UK has avoided a technical recession, after it forecast growth of 0.1% for the three months to March.
VCT investment cap postponement welcomed

5 Apr 2012

The Association of Investment Companies (AIC) has welcomed the postponement by HM Treasury of rules that would cap investment in small businesses during a 12-month period.
Investment managers' confidence grows after Q1

5 Apr 2012

The investment management industry has become more optimistic during the first quarter of the year, according to the latest PricewaterhouseCoopers/CBI survey.
Offshore fund sales return to inflows

5 Apr 2012

Offshore funds saw net inflows of £171m during February with funds under management rising to their highest level, according to the Investment Management Association (IMA).
Hargreaves Lansdown criticises "disappointing" Allianz fund

4 Apr 2012

Meera Patel, senior analyst at Hargreaves Lansdown, has criticised the Allianz RCM UK Mid Cap fund’s “disappointing performance” and “disappointing stock selection”.
Neptune sales exits prompt structural review

4 Apr 2012

The departure of Neptune’s strategic partnerships head John Lester and two others has prompted the asset manager to review its retail sales team.
GLG fund manager quits

4 Apr 2012

Christopher Akel has stepped down as the manager of the £97.5m GLG Global Corporate Bond and GLG Strategic Bond funds for personal reasons.
Blacksquare to close fund of absolute return funds

4 Apr 2012

Blacksquare is to close its IFSL Blacksquare Diversified Absolute Return fund after failing to find suitable managers to meet its volatility targets.
Laxey accuses Alliance Trust of misleading investors

3 Apr 2012

Activist investor Laxey Partners has accused Alliance Trust of misleading investors over expenses, as friction between the two continues to escalate.
IMA backs European regulator over standardised regulation

3 Apr 2012

The Investment Management Association (IMA) has backed plans by the European Securities & Markets Authority (Esma) to standardise regulation.
M&G promotes two fund managers

2 Apr 2012

Phil Cliff has been appointed as manager of the M&G Pan European Dividend fund, replacing Richard Halle.
Credit Suisse suspends Indian ETF

2 Apr 2012

Credit Suisse has suspended subscriptions to its Irish-listed CS MSCI India exchange-traded fund (ETF), following recently announced tax changes in the wake of the Indian budget.
Universities challenged

2 Apr 2012

I recently received a call from my alma mater to contribute to its student fund, which got me thinking about how the higher education system is funded.
Investment management to grow through transactions, finds KPMG

2 Apr 2012

Investment managers are to target growth through transactions during 2012, a study by financial services firm KPMG has revealed.
Aberdeen fund downgraded over size concerns

2 Apr 2012

Bestinvest has downgraded the £3.2 billion Aberdeen Emerging Markets fund due to concerns over the size of the fund.
MAM Funds on the hunt for ‘like-minded’ talent

Fund Strategy - 2 Apr 2012

Gervais Williams, the managing director of MAM Funds, says the boutique is open to taking on new fund managers if the right candidates come along.
Investec hands UK Alpha fund reins to Rodrigs

30 Mar 2012

Investec Asset Management has appointed Philip Rodrigs as lead manager on the Investec UK Alpha fund.
Veritas and JP Morgan funds downgraded by Morningstar OBSR

30 Mar 2012

Ezra Sun’s Veritas Asian fund and the JP Morgan Europe Smaller Companies fund have both been downgraded by Morningstar OBSR following the latest analyst meeting.
Invesco investment trust suspended ahead of offshore move vote

30 Mar 2012

The City Merchants High Yield investment trust has had trading in its shares suspended as it seeks a vote on a move offshore.
BlackRock international retail head joins Jupiter

30 Mar 2012

Maarten Slendebroek, outgoing head of international retail at BlackRock, is to join the board of Jupiter Fund Management as distribution and strategy director.
BlackRock's Hoctor-Duncan named EMEA retail head

30 Mar 2012

BlackRock’s Alex Hoctor-Duncan has been named head of retail for Europe, Middle East and Africa (EMEA).
Fitch affirms European Union AAA rating

29 Mar 2012

Fitch Ratings has affirmed the European Union’s AAA issuer default rating with a stable outlook, based on the support of the economic bloc’s 27 member states.
Treasury's key lessons from financial crisis: raise salaries, keep staff

29 Mar 2012

A Treasury review into the financial crisis and its response has found that it must lower its staff turnover rate and incentivise people to stay, to fit in the new regulatory regime.
Merchant House shares suspended from AIM

29 Mar 2012

Merchant House Group has had its shares temporarily suspended from trading on the Alternative Investment Market, at the group’s request.
Fund sales reach highest level since August 2011

29 Mar 2012

The Investment Management Association (IMA) has revealed net fund sales in February reached their highest level since August 2011, with sales dominated by fixed income funds.
Shant to take over Newton European Higher Income fund

29 Mar 2012

Raj Shant is to take over as lead manager on the Newton European Higher Income fund following the departure of Fred Moore.
FSA to propose financial crime rule changes

29 Mar 2012

The Financial Services Authority (FSA) is to propose new financial crime guidance for all firms following a review of systems and controls in investment banks.
Laxey challenges Alliance Trust to release capital

29 Mar 2012

Activist investor Laxey Partners has called on Alliance Trust to increase dividend payments from realised capital gains, in a bid to narrow the investment trust’s discount.
3i chief to step down

29 Mar 2012

Private equity group 3i has announced that Michael Queen, chief executive, is to leave the company after a successor has been found.
Bestinvest tells investors to sell BlackRock fund

28 Mar 2012

Bestinvest has told investors to sell out of the BlackRock UK Absolute Alpha fund, after it was downgraded to a one-star rating.
Ex-Alico chief joins Hearthstone

28 Mar 2012

Mike Kirsch, former chief of Alico UK, has joined Hearthstone Investments as a non-executive director.
Barclays heads most-complained investment list

28 Mar 2012

Barclays was the most complained about firm for investment products during the second half of 2011.
Investment complaints drop to lowest level since 2008

28 Mar 2012

Investment product complaints dropped to the lowest level since the second half of 2008, new figures from the Financial Services Authority (FSA) have revealed.
PRIPs advisers 'don't always have clients' best interests at heart', says EU

28 Mar 2012

Michel Barnier, commissioner of the European Union, has vowed to improve consumer protection for packaged retail investment products (PRIPs).
Small cap fund benchmark taken over by Numis

28 Mar 2012

Numis is to take over the RBS Hoare Govett Smaller Companies index, used as a benchmark index by a number of small cap fund managers.
Mercantile investment trust to address “disappointing” performance

27 Mar 2012

Mercantile Investment Trust says it will work hard with JP Morgan Asset Management to turn around the closed-end fund’s performance.
Government wants fund managers

27 Mar 2012

The Department for Business, Innovation & Skills has started a search for fund managers to oversee investment in green infrastructure.
Martin Currie strengthens global industrials and utilities team

27 Mar 2012

Asset manager Martin Currie has appointed Matthew Franklin as senior investment analyst for its global industrials and utilities team.
JP Morgan's Lennard steps down from investment trust

27 Mar 2012

Jane Lennard has stepped down as joint manager on the JP Morgan Mid Cap investment trust “to pursue interests outside investment management”.
Ashcourt Rowan’s Sinclair promoted to board

27 Mar 2012

Wealth manager Ashcourt Rowan has appointed Richard Sinclair, group chief operating officer, to the board.
European Parliament proposes insider dealing criminal penalties

27 Mar 2012

The European Parliament has proposed a directive that would see criminal penalties for insider dealing harmonised across the European Union (EU).
F&C’s Tigue appointed to JP Morgan investment trust board

26 Mar 2012

Foreign & Colonial Investment Trust manager Jeremy Tigue has been appointed as a director to the board of the Mercantile Investment Trust.
Novia adds further discretionary manager

26 Mar 2012

Platform Novia has added a further discretionary manager to its line-up with the addition of EFG Harris Allday, the investment management arm of EFG International.
FSA fines Coutts £8.75m for anti-money laundering failings

26 Mar 2012

The Financial Services Authority (FSA) has fined wealth manager and private bank Coutts & Co £8.75m over anti-money laundering failings.
MAM Funds to pay dividend for first time in four years

26 Mar 2012

MAM Funds has announced it is to pay out a dividend for the first time in four years, after reporting its results for the year to December 31 2011.
Qualified response to perpetual gilts proposal

Fund Strategy - 26 Mar 2012

News that the government is to investigate perpetual gilts, and gilts with a lifespan of more than 50 years has been cautiously welcomed.
Ex-LV= Asset Management CIO resurfaces at Kames

23 Mar 2012

Kames Capital has appointed Piers Hillier, former chief investment officer at LV= Asset Management, as head of overseas equities.
EU claims Tobin tax will halve national contributions

23 Mar 2012

European Union commissioner Janusz Lewandowski has claimed a financial transations tax – or Tobin tax – would halve contributions to its budget from member states.
Morningstar OBSR downgrades Henderson fund after manager exit

23 Mar 2012

One of the first acts by the newly rebranded Morningstar OBSR has been to downgrade the Henderson Global Focus fund following the exit of Neil Rogan.
Manager change for Newton Bridge fund

23 Mar 2012

BNY Mellon has announced that Simon Nichols is to take over as lead manager on the £314.7m Newton Bridge fund, replacing Caroline Tye.
SVM "mystified and disappointed" by Hargreaves Lansdown

23 Mar 2012

The removal of the SVM UK Opportunities fund from the Hargreaves Lansdown Wealth 150 has provoked a strong defence by the asset manager.
Ignis assets grow to £81.5bn

23 Mar 2012

Ignis Asset Management has reported that assets under management, oversight and administration grew to £81.5 billion during 2011.
FSA needs a further £78.4m in funding

22 Mar 2012

The Financial Services Authority (FSA) is to increase its annual funding requirement from £500m to £578.4m for the next financial year.
FSA to publish platform paper in first quarter

22 Mar 2012

The Financial Services Authority (FSA) has announced that its consultation paper on rule changes for platforms will be published during the first quarter of 2012.
Henderson's head of global equities replaced

22 Mar 2012

Henderson Global Investors has appointed Matthew Beesley as head of global equities following Neil Rogan’s decision to leave the industry.
Property trust adds ex-Pru finance officer to board

22 Mar 2012

The TR Property investment trust has appointed David Watson, former finance director at Prudential, to the board.
RMG Wealth launches multi-asset fund

22 Mar 2012

Boutique RMG Wealth Management has launched an offshore, global multi-asset fund, the RMG Real Return fund.
Aviva fund rating dropped by OBSR

21 Mar 2012

Old Broad Street Research (OBSR) has dropped the Aviva European Equity fund from its service following news of the departure of John Botham.
Budget 2012: M&G in running to manage business finance fund

21 Mar 2012

M&G Investment Management is one of seven fund managers that have been shortlisted to manage £700m pot of money to help businesses access non-bank finance.
Budget 2012: What planet is chancellor living on, asks Miliband

21 Mar 2012

The Labour Party leader has slammed chancellor George Osborne’s Budget statement, claiming that his plan to help Britain grow has failed.
Budget 2012: 50% income tax to be scrapped

21 Mar 2012

Chancellor George Osborne is to cut the 50% income tax rate to 45%.
Hargreaves removes income fund pair from Wealth 150

21 Mar 2012

Hargreaves Lansdown has removed two income funds from its Wealth 150 fund buy-list.
Standard Life Higher Income fund undergoes changes

21 Mar 2012

Standard Life Investments has appointed David Ennett as lead manager of its Higher Income fund, following a regular review.
Active strategy proposed for Edinburgh US Tracker trust

21 Mar 2012

Investors in the Edinburgh US Tracker investment trust are to be consulted on a change to a more active investment policy that could see it rebranded.
Bank split on increasing QE, minutes reveal

21 Mar 2012

The Bank of England’s Monetary Policy Committee (MPC) was split over increasing quantitative easing by £25 billion at its March meeting.
Skandia drops Goldman Sachs from European fund

21 Mar 2012

Skandia Investment Group has dropped Goldman Sachs from its Skandia European Equity fund for General Electric (GE) Asset Management.
Budget 2012: Salmond challenges Cameron on Scottish promises

21 Mar 2012

Scotland’s First Minister Alex Salmond has challenged UK prime minister David Cameron to prove pre-Budget claims about potential Scottish investment.
IFAs choose UK, emerging markets and US tracker funds

20 Mar 2012

Legal & General Investments has revealed that UK, emerging markets, and US index funds are most popular amongst IFAs.
Coutts to focus on UK and key geographies after LatAm sale

20 Mar 2012

The Royal Bank of Scotland has reiterated the focus of wealth manager Coutts on the UK following the sale of its Latin American, Caribbean and African business to Royal Bank of Canada (RBC).
Kames fund added to Hargreaves Wealth 150

20 Mar 2012

Kames Capital has seen its Kames High Yield Bond fund added to the Hargreaves Lansdown Wealth 150 fund buy-list.
Former FSA director joins Big Four auditor

20 Mar 2012

Margaret Cole, former managing director of enforcement and financial crime at the FSA, is to join PricewaterhouseCoopers (PwC) as a general counsel and executive board member.
Exits from eurozone wouldn’t make sense, says Mobius

20 Mar 2012

Mark Mobius, emerging markets specialist at Franklin Templeton, says an exit from the euro by any of the single currency members “doesn’t make sense”.
Fitch affirms Lloyds and RBS ratings

20 Mar 2012

Fitch Ratings has affirmed the ‘A’ ratings for Lloyds Banking Group and Royal Bank of Scotland Group.
Pictet launches multi-asset fund

19 Mar 2012

Pictet Asset Management has launched the Pictet Global Flexible Allocation fund for UK investors.
EU consults on regulating shadow banking

19 Mar 2012

The European Union (EU) has launched a green paper on regulating the non-bank credit market or “shadow banking” sector.
ECB financing “like giving heroin to a drug addict”, says Legg Mason

19 Mar 2012

David Nadel, manager at Legg Mason, has compared recent moves by central banks to provide cheap dollar financing to giving drugs to an addict.
Pimco and Source ETFs in further launch

19 Mar 2012

Asset manager Pimco and exchange-traded fund (ETF) provider Source have launched a short-term high yield corporate bond index product.
Barclays launches discretionary management service

19 Mar 2012

Barclays Wealth is to launch a discretionary portfolio management service for the adviser market, to take advantage of regulatory changes brought about by the retail distribution review (RDR).
Third firm placed in special administration by FSA

19 Mar 2012

The Financial Services Authority (FSA) has placed spreadbetting firm Worldspreads into special administration, the third firm to be targeted under the new powers.
Barclays launches discretionary management service

Fund Strategy - 19 Mar 2012

Barclays Wealth is to launch a discretionary portfolio management service for the adviser market, to take advantage of regulatory changes brought about by the retail distribution review (RDR).
Polar launches European long-short fund

16 Mar 2012

Polar Capital has launched the Polar Capital European Market Neutral fund for manager Ton Tjia who joined at the end of last year.
London or London't

16 Mar 2012

Later this year, Ken Livingston and Boris Johnson will fight it out for the London mayorship, but what, if any impact, will it have on investors?
Moody's predicts volatile year for asset managers

16 Mar 2012

Ratings agency Moody’s warns that despite asset managers remaining “resilient” in 2011, “another volatile year” for the industry lies ahead in 2012.
FSA's Sants to step down in June

16 Mar 2012

The Financial Services Authority (FSA) has announced that chief executive Hector Sants is to step down at the end of June.
Morningstar reveals latest investment trust ratings

16 Mar 2012

Morningstar has released its latest tranche of investment trust ratings, which includes Sam Vecht’s Eastern European Trust.
Alliance Trust Investments adds investment managers

15 Mar 2012

Alliance Trust Investments has added two investment managers to its global equity team headed by Ilario Di Bon.
JP Morgan's Gartside increases financials

15 Mar 2012

JP Morgan Asset Management’s Nick Gartside has increased his holdings in investment grade financial corporate debt since the beginning of the year.
AIFMD could drive costs higher for small fund managers

15 Mar 2012

The alternative investment fund managers directive (AIFMD) could see costs for small fund managers increase, according to Deloitte.
JO Hambro’s Neubert to join Witan board

15 Mar 2012

Witan Investment Trust has announced that JO Hambro Capital Management’s Suzy Neubert is to join the board in April.
Witan increases dividend but lags benchmark

15 Mar 2012

Witan Investment Trust increased its dividend by 10.1% during 2011, despite underperforming its benchmark.
FSA chairman warns on shadow banking

14 Mar 2012

Financial Services Authority (FSA) chairman Adair Turner says the shadow banking system played a major role in the financial crisis and needs to be regulated effectively.
Fed stress-test results a “significant step in recovery”, says de Blonay

14 Mar 2012

Guy de Blonay, manager of the Jupiter Financial Opportunities fund, says the outcome of the Federal Reserve’s recent stress tests are a further boost for the banking sector.
G20 GDP growth slows in final quarter of 2011

14 Mar 2012

GDP growth for the G20 countries slowed during the final quarter of 2011, with “diverging patterns among the world’s largest economies”.
Advisers to increase investment trust exposure

14 Mar 2012

Research by the Association of Investment Companies (AIC) has revealed 42% of financial advisers will increase their exposure to investement trusts over the next three years.
Eurozone inflation flat in February

14 Mar 2012

Inflation in the eurozone remained at 2.7% in February, with no change from January, the European Union’s (EU’s) statistical office Eurostat has revealed.
Man Group launches commodities fund

14 Mar 2012

Man Group has launched its first single-manager commodities-only fund, offering exposure to global commodities.
Premier investment trust in manager change

14 Mar 2012

Premier Fund Managers has reorganised the running of the Premier Energy and Water investment trust following the impending departure of manager Kevin Scutt.
JP Morgan investment trust undergoes overhaul

13 Mar 2012

The JP Morgan Claverhouse investment trust is to undergo an overhaul after its net asset value (NAV) per share underperformed its benchmark for four out of the past five years.
Connaught Ucis fund suspended after assets review

13 Mar 2012

Connaught Asset Management has suspended redemptions from its Connaught Income Fund Series 1, following a review of assets.
Activist requisitions review of Alliance Trust

13 Mar 2012

Activist investor Laxey Partners has proposed a review of Alliance Trust’s management and the possibility of having an external investment manager.
M&G inflows halve in 2011

13 Mar 2012

Asset manager M&G has reported a 52% drop in inflows during 2011 following two successive years of “extremely high net sales”.
FSA fines Credit Suisse head of European credit sales £210,000

13 Mar 2012

The Financial Services Authority (FSA) has fined the head of European credit sales at Credit Suisse £210,000 for improper market conduct.
Investment risk profiling “ineffective”, regulator finds

13 Mar 2012

The Financial Services Authority (FSA) has found that consumer risk profiling is ineffective across a range of investment advice firms.
Adviser-sponsored Oeics could lead to conflict

13 Mar 2012

Oeics launched by advisers could lead to a conflict of interest between the authorised corporate director (ACD) and the adviser, according to the Financial Services Authority (FSA).
Two key risks for RDR, warns FSA

13 Mar 2012

The Financial Services Authority (FSA) has identified “two key risks” over the implementation of the retail distribution review (RDR).
Structured products and Ucits IV no longer a high priority, says FSA

13 Mar 2012

The Financial Services Authority (FSA) has downgraded the risk priority of structured products and Ucits IV.
Absolute return funds remain on FSA risk radar

13 Mar 2012

The Financial Services Authority (FSA) has highlighted absolute return funds as an area of “potential concern” in its latest Retail Risk Conduct Outlook.
Exchange-traded products an "emerging risk", warns FSA

13 Mar 2012

Evidence of poor practice has been found by the Financial Services Authority (FSA) in recent visits to exchange-traded product (ETP) providers over the past 18 months.
FSA concerned by poor conduct in private banking and wealth management

13 Mar 2012

The Financial Services Authority (FSA) has highlighted concerns over “poor firm conduct” in private banking and wealth management.
Standard Life Investments profits grow

13 Mar 2012

Standard Life Investments has reported a 21% growth in pre-tax operating profits during 2011, rising to £125m from £103m.
Brooks Macdonald reports pre-tax profit rise

13 Mar 2012

Wealth manager Brooks Macdonald has reported a 33% rise in pre-tax profits to £4.1m during the six months to December 31, 2011, compared with £3.1m during the prior-year period.
Liontrust to acquire Walker Crips Asset Managers

13 Mar 2012

Liontrust Asset Management has acquired Walker Crips Asset Managers from the Walker Crips group in a deal worth £12.4m.
Martin Currie names chief operating officer

12 Mar 2012

Martin Currie has appointed Darren Cannon, the former derivatives and data services head at Schroders, as chief operating officer.
SVG restructures board

12 Mar 2012

SVG Capital has announced a number of changes to its board structure in preparation for its proposed new strategy.
Barings manager to pare down portfolio

12 Mar 2012

Baring Latin America fund manager Mike Simpson is preparing to reduce the number of holdings in the fund as he approaches the six-month anniversary of his taking over.
Shore Capital hires senior adviser

12 Mar 2012

Shore Capital has appointed Christian Yates as senior adviser within its asset management business.
Legg Mason adds to onshore range with Brandywine launch

12 Mar 2012

Legg Mason has added to its range of UK onshore funds with the launch of the Legg Mason Income Optimiser fund, to be managed by subsidiary Brandywine Global.
EIS launched with Lansdown backing

12 Mar 2012

Sustainable Technology Investors has launched an enterprise investment scheme (EIS) fund with backing from Hargreaves Lansdown co-founder Stephen Lansdown.
First audit of European platform industry revealed

12 Mar 2012

The Platforum has produced the first European platform audit, finding that an estimated €740 billion (£618 billion) is held in assets under administration on open architecture platforms.
Aberdeen joins luminaries on blue chip 100 list

Fund Strategy - 12 Mar 2012

?Aberdeen Asset Management is to be the latest entrant to the FTSE 100 index, in the quarterly rebalancing of the index range.
Audit reveals assets of £618 billion

Fund Strategy - 12 Mar 2012

The Platforum has produced the first European platform audit, finding that an estimated €740 billion (£618 billion) is held in assets under administration on open architecture platforms.
Winterflood urges investors to ditch Alliance

Fund Strategy - 12 Mar 2012

Winterflood Investment Trusts (Wins) has voiced its concern over Alliance Trust’s “dull” full-year results, urging investors to make a hasty exit.
Threadneedle's Cobon named co-manager on Absolute Return Bond fund

9 Mar 2012

Threadneedle has named Matthew Cobon as co-manager on its Threadneedle Absolute Return Bond fund.
FSA puts firm into special administration regime

9 Mar 2012

The Financial Services Authority (FSA) has placed Pritchard Stockbrokers into its special administration regime, for only the second time since it was introduced.
UK sales growth "may be constrained" warns Skandia parent

9 Mar 2012

Old Mutual, the parent company of platform Skandia, has warned that sales growth through its UK platform may be constrained during 2012.
Skandia sales flat as profit drops

9 Mar 2012

Skandia UK has reported gross sales remained flat in 2011, as overal funds under management shrank to £33.4 billion, decreasing by £500m.
Make a hasty exit from Alliance Trust, says Winterflood

9 Mar 2012

Winterflood Investment Trusts has voiced its concern over Alliance Trust’s “dull” full-year results, urging investors to make a hasty exit.
Fund pickers on the wane as advisers choose model portfolios, Platforum finds

8 Mar 2012

The number of advisers using model portfolios has increased to its highest level in the first quarter of 2012 ahead of the retail distribution review (RDR), according to The Platforum.
British Portfolio Trust loss blow to RCM, says Winterflood

8 Mar 2012

News of BlackRock’s ousting of Allianz RCM as manager on the British Portfolio Trust will be a further blow to the asset manager, according to Winterflood Investment Trusts.
Aberdeen non-exec steps down

8 Mar 2012

Gerhard Fusenig, non-executive director at Aberdeen Asset Management, has resigned from the board of the company.
FSA fines and bans former Royal Liver FD

8 Mar 2012

The Financial Services Authority (FSA) has fined and banned former Royal Liver Assurance (RLA) finance director George McGregor £109,000 for entering into investment contracts without authorisation and for the benefit of a former employee.
European Union says Thomson Reuters investigation at “critical stage”

8 Mar 2012

The European Commission has warned that an anti-trust investigation into Thomson Reuters has reached a “critical stage”.
Aviva confirms plans to “scale back” retail investment business

8 Mar 2012

Aviva Investors has confirmed that it is to scale back distribution to retail investors, targeting the market through parent Aviva and its network of banks, insurers and brokers.
Henderson co-head of global distribution leaves

8 Mar 2012

Henderson Global Investors has announced that Arno Kitts, co-head of global distribution, is to leave the group in July.
City is Champions League, British business is League 1, says Vince Cable

8 Mar 2012

Business secretary Vince Cable has described the City’s financial services sector as “Champions League” but called for a better relationship between it and the “real economy” of the UK.
Schroders chair and investment chief step down

8 Mar 2012

Schroders has revealed that Michael Miles, chairman, and Alan Brown, chief investment officer, are to step down at its annual general meeting in May.
Schroders reports small rise in pre-tax profits

8 Mar 2012

Asset manager Schroders has reported a small rise in pre-tax profits for 2011, as it reported net outflows in its intermediary business.
Aberdeen to become latest FTSE 100 member

7 Mar 2012

Aberdeen Asset Management is set to join peers Schroders, Ashmore and Man Group in the FTSE 100 index in the latest review of the UK indices.
Novia adds to discretionary offering

7 Mar 2012

Wealth management platform Novia has added to its discretionary management offering with the addition of Arjent’s Managed Portfolio Solution.
BlackRock fund placed under review after manager leaves

7 Mar 2012

Standard & Poor’s has placed the BlackRock Emerging Markets fund under review following the departure of portfolio manager Daniel Tubbs.
Jupiter profits jump despite inflows shrinkage

7 Mar 2012

Asset manager Jupiter has announced pre-tax profits of £70.3m for 2011, as assets under management slipped to £22.8 billion from £24.1 billion in 2010.
Investment claims management advert complaint thrown out

7 Mar 2012

The Advertising Standards Authority (Asa) has dismissed a complaint by Alan Lakey’s Highclere Financial Services over an advert for claims management company Policy Payback Plus.
FSA consults on "tax transparent" fund types

6 Mar 2012

The Financial Services Authority (FSA) is consulting investment advisers to enable it to authorise two further legal forms of collective investment scheme.
Advisers focused on wealth preservation in 2012, says Fidelity

6 Mar 2012

A poll by Fidelity Worldwide Investments has revealed that more than half of advisers will be focusing on wealth preservation for clients during 2012.
City regulators to look at Libor overhaul

6 Mar 2012

Regulators in the UK and global banks are considering changing the way that interbank lending rates are regulated and calculated, according to the Financial Times.
iShares adds two products to range

6 Mar 2012

Exchange-traded product provider iShares has made two further additions to its range, with the launch of a Mexico and Asia local government debt-tracking funds.
Santander UK names head of UK banking

6 Mar 2012

Santander UK’s Steve Pateman is to become head of UK banking, with responsibility for retail distribution & intermediaries and products & marketing.
BlackRock wins investment trust mandate

6 Mar 2012

The British Portfolio Trust has announced the appointment of BlackRock as its investment manager, taking over from Allianz RCM.
Alliance Trust increases dividend

6 Mar 2012

Investment trust Alliance Trust has announced an increase in its full-year dividend of 7.2%, to 9p.
S&P says Invesco fund rating "under pressure"

5 Mar 2012

Standard & Poor’s (S&P) has said the A/V4 rating on David Todd’s Invesco Global Investment Grade Corporate Bond fund is “under pressure”.
BNY Mellon launches emerging market corporate debt fund

5 Mar 2012

BNY Mellon has launched the BNY Mellon Emerging Markets Corporate Debt fund to be managed by Insight Investment.
Henderson SRI team joins boutique WHEB

5 Mar 2012

The former Henderson Global Investors sustainable and responsible investment (SRI) team has joined environmental fund boutique WHEB Asset Management.
The best-selling platform funds in Q4 2011 revealed

5 Mar 2012

Richard Woolnough’s M&G Strategic Corporate Bond fund was the most popular fund sold via platforms during the final quarter of 2011, according to The Platforum.
Banking sector needs fixing to ensure growth

Fund Strategy - 5 Mar 2012

Neil Woodford of Invesco Perpetual talks to Rob Langston at the Fund Strategy Investment Summit.
Woolnough fund tops platform sales

Fund Strategy - 5 Mar 2012

Richard Woolnough’s M&G Strategic Corporate Bond fund was the most popular fund sold via platforms during the final quarter of 2011, according to The Platforum.
Newton private client CIO leaves

2 Mar 2012

Newton Investment Management has that announced Philip Collins, chief investment officer for private clients and charities, has left after this role was made redundant.
Majority of advisers unlikely to change platforms in 2012

2 Mar 2012

The majority of advisers are unlikely to change platforms over the next year, according to research from The Platforum.
OBSR suspends JP Morgan fund rating in manager reshuffle

2 Mar 2012

Old Broad Street Research (OBSR) has suspended the rating of the JP Morgan Emerging Markets Infrastructure fund following a change in management.
Naughty or nice?

2 Mar 2012

I often wonder what drives people to invest ethically. Is it a conscious decision, or is it out of some kind of guilt? But more importantly, is it the right choice?
Martin Currie relaunches European fund

1 Mar 2012

Martin Currie has relaunched its European fund as the Martin Currie European Equity Income fund.
No desire to harmonise ratings agency methodologies, says FSA

29 Feb 2012

David Lawton, acting director of markets at the Financial Services Authority (FSA), says the use of different methodologies should be preserved.
Morningstar names award winners

29 Feb 2012

Morningstar has announced the winning funds and fund groups of its UK Fund Awards 2012.
WH Ireland acquires Pritchard client list

29 Feb 2012

WH Ireland has acquired the 8,000 private client list and £400m in non-cash assets under management of embattled firm Pritchard Stockbrokers in a deal worth £500,000.
Newton hires investment manager for private client team

28 Feb 2012

Newton Investment Management has hired Clare Huijnen as investment manager for its private client team.
OBSR downgrades Fidelity funds

28 Feb 2012

Old Broad Street Research (OBSR) has downgraded two Fidelity funds managed by Richard Skelt from AA status to a single A ratings, following its latest meeting.
Horlick launches Rockpool Investments

28 Feb 2012

Nicola Horlick, chief of Bramdean Asset Management, will chair a newly-launched private equity investing business, Rockpool Investments.
Gam makes Swiss acquisition

28 Feb 2012

Gam is set to acquire Swiss absolute return specialist Arkos Capital, which has assets under management of CHF 664m (£467.3m).
Fidelity launches global high yield fund

28 Feb 2012

Fidelity Worldwide Investment is to launch a Global High Yield fund for managers Peter Khan and Ian Spreadbury.
Fidelity director to step down from Lloyds board

27 Feb 2012

Glen Moreno, a director at Fidelity, is to step down from the board of Lloyds Banking Group as deputy chairman and senior independent director.
Bank governor being 'smart' over easing, says M&G

27 Feb 2012

Bank of England governor Mervyn King is being “really smart” in his use of quantitative easing (QE), says M&G fixed income manager Ben Lord.
Invesco Perpetual names US equity manager

27 Feb 2012

Invesco Perpetual has announced that Simon Clinch will join the global equity team as a US equity fund manager.
IMA cool on trail commission clarification

27 Feb 2012

The Investment Management Association (IMA) has given a mixed reception to recent clarification on trail commission by the Financial Services Authority (FSA).
Eurozone break up ‘nightmare for europhiles’, says Terry Smith

27 Feb 2012

Terry Smith, founder of Fundsmith, says an exit from the eurozone by Greece may be less “catastrophic” than feared.
Woodford attacks ‘defensive’ label

27 Feb 2012

Invesco Perpetual’s Neil Woodford says he is uncomfortable with being labelled “defensive”.
Global economy in ‘painful deleveraging process’, says Liontrust

27 Feb 2012

Liontrust fund manager James Inglis-Jones has warned that the global economy is in a “very painful deleveraging process” after debts increased to unprecedented levels.
Cazenove appoints financial planning director

27 Feb 2012

Cazenove Capital has poached James Gladstone, the former head of UK financial planning at UBS Wealth Management.
Former Allianz Global chief joins HSBC

27 Feb 2012

Joachim Faber and John Lipsky have joined HSBC as independent non-executive directors.
Schroders to launch European Total Return fund

27 Feb 2012

Schroders will launch an offshore fund targeting European equities for one of its new recruits next month.
Bank governor being 'smart’ over easing, says M&G’s Ben Lord

Fund Strategy - 27 Feb 2012

Bank of England governor Mervyn King is being “really smart” in his use of quantitative easing (QE), says M&G fixed income manager Ben Lord.
Global economy in ‘painful deleveraging process’

Fund Strategy - 27 Feb 2012

?Liontrust fund manager James Inglis-Jones has warned that the global economy is in a “very painful deleveraging process” after debts increased to unprecedented levels.
Schroders plans launch for new face

Fund Strategy - 27 Feb 2012

Schroders will launch an offshore fund targeting European equities for one of its new recruits next month.
Woodford attacks ‘defensive’ label

Fund Strategy - 27 Feb 2012

Invesco Perpetual’s Neil Woodford says he is uncomfortable with being labelled “defensive”.
Summit: Europe still behind on banks, says Woodford

23 Feb 2012

Neil Woodford says there is still some ways to go before Europe catches up in addressing the banking crisis.
Threadneedle fund awarded four stars

23 Feb 2012

Bestinvest has awarded the Threadneedle Enhanced Commodity fund four stars, hailing what it believes is the fund’s lower volatility to other equity products.
Summit: Bank switch to CPI could create two-tier gilt market, says M&G's Lord

23 Feb 2012

Ben Lord, manager of the M&G Inflation Linked Corporate Bond fund, says a switch to CPI-linked gilts could create a two-tier gilt market.
OBSR downgrades BlackRock UK fund

22 Feb 2012

Old Broad Street Research (OBSR) has downgraded the BlackRock UK fund from a AA rating to an A rating following the appointment of Nick Little to the portfolio.
St James's Place sees pre-tax profits plunge

22 Feb 2012

Wealth manager St James’s Place saw profit before tax plunge over 2011, according to the group’s annual results.
Invesco’s Read and Causer pulled from SJP fund

22 Feb 2012

St James’s Place (SJP) is to pull the management of the £235m SJP Investment Grade Corporate Bond fund from Invesco Perpetual’s Paul Read and Paul Causer.
Bestinvest's list of dog funds

21 Feb 2012

See here for Bestinvest’s list of dog funds.
Bestinvest reveals "dog" funds

21 Feb 2012

Bestinvest has revealed that more than £9.2 billion was held in dog funds, although this has dropped from August 2011, when the figure was £23.2 billion.
Ireland teams up with Malta for European bond market

21 Feb 2012

The Irish Stock Exchange and Malta Stock Exchange have launched the European Wholesale Securities Market (EWSM).
FSA gains injunction against spread bet returns firm

21 Feb 2012

The Financial Services Authority (FSA) has been granted an interim injunction by the High Court against Stuart Carl Mudge and Anthony John Lewis regarding their involvement in the Churchgate Trading Syndicate.
Rathbones reports 2011 profits increase

21 Feb 2012

Rathbone Brothers has reported a 30% increase in pre-tax profits for the year to December 31, 2011.
Greece to get next bailout tranche

21 Feb 2012

Greece is set to get its next tranche of bailout money, worth an estimated €130 billion, after eurozone leaders announced an agreement with the Greek government.
Cofunds financial strength upgraded

20 Feb 2012

Funds platform Cofunds has had its financial strength rating upgraded to B+ ‘very strong’ from B ‘strong’ by AKG Actuaries & Consultants.
Thomson Reuters launches fund manager prediction model

20 Feb 2012

Thomson Reuters has launched a model that will predict the stocks that a fund manager is likely to buy and sell.
AXA Wealth to launch direct platform

20 Feb 2012

Axa Wealth is to launch its direct platform, Axa Self Investor, with a select number of IFA firms over the coming six months.
JP Morgan fund added to Hargreaves Lansdown Wealth 150

20 Feb 2012

Hargreaves Lansdown has added the JP Morgan Emerging Markets fund to its Wealth 150 buy-list.
Fidelity fund managers pick out stocks for London Fashion Week

20 Feb 2012

Fidelity Worldwide Investment managers Tom Ewing and Sam Morse have given their views on two listed fashion giants for London Fashion Week.
Investec recruits former IMF director

20 Feb 2012

Investec Asset Management has appointed Lelie Lipschitz, former International Monetary Fund (IMF) Institute director, as a visiting strategist.
Santander fined £1.5m over structured products

20 Feb 2012

The Financial Services Authority (FSA) has fined Santander £1.5m after it took more than a year to clarify under which circumstances its structured products would be covered by the Financial Services Compensation Scheme (FSCS).
EU barometer finds lack of commission transparency

20 Feb 2012

Most financial products consumers are not told whether the person selling to them is being paid commission, according to a European Union survey on opinions towards retail financial services.
Fundsmith founder attacks platforms and fees

Fund Strategy - 20 Feb 2012

Terry Smith, the founder of Fundsmith, has called for a ban on trail commissions after lambasting platforms.
Fees, foes, funds

17 Feb 2012

Talk of fund fees has dominated the industry over the past few weeks: campaigns have been launched, cross words exchanged and battle lines drawn.
Merchant House launches wealth advisory firm

17 Feb 2012

Merchant House Group, the parent of structured product provider Merchant Capital, is to launch private client business Merchant Wealth.
Establish Tobin tax now, says European regions committee

17 Feb 2012

The European Committee of the Regions has called for a financial transactions tax to be implemented immediately.
Insight multi-asset head Pingerra quits

17 Feb 2012

Mike Pingerra, the head of multi-asset at Insight Investments, is to leave the firm.
OBSR removes Henderson fund from ratings service

17 Feb 2012

Old Broad Street Research (OBSR) has removed the Henderson High Yield Monthly Income fund from its service, following news of the asset manager’s range rationalisation.
Bolton Fidelity China trust discount shrinks

16 Feb 2012

Fund manager Anthony Bolton has seen the discount on his Fidelity China Special Situations investment trust shrink to 0.54% since the beginning of the year.
TER is "misleadingly named", says City veteran

16 Feb 2012

FundSmith founder Terry Smith has railed against the Total Expense Ratio (TER) and called on all fund running costs to be disclosed.
FSA must ban trail commission, says Terry Smith

16 Feb 2012

City veteran Terry Smith has called on the Financial Services Authority (FSA) to ban the payment “of all trail fees” as part of the retail distribution review (RDR).
City Financial makes board appointments

16 Feb 2012

Investment firm City Financial has appointed David Beatty and Michael Stein as non-executive directors to the board.
Merchant Capital unsure whether clients will suffer economic loss

16 Feb 2012

Structured product provider Merchant Capital is awaiting news on the implications for client monies after the Financial Services Authority (FSA) suspended Pritchard Stockbrokers authorisation.
Quilter adds to investment team with Towry appointment

16 Feb 2012

Wealth manager Quilter has added to its investment management team with the appointment of Oliver Stainer.
Investment Funds Association merges into Tisa

16 Feb 2012

The Investment Funds Association is to merge into the Tax Incentivised Savings Association (Tisa) to boost its distributor funds efforts.
Investors push gold demand to more than $200bn

16 Feb 2012

Global demand for gold has been estimated at more than 4,000 tonnes worth $206 billion during 2011, according to the World Gold Council.
Rathbones launches RDR share classes

16 Feb 2012

Rathbone Unit Trust Management is to launch institutional “i-class” units and shares across its fund range from March, ahead of the retail distribution review (RDR).
Tesco Bank to add former Barclays retail chief to board

15 Feb 2012

Supermarket giant Tesco has announced that Deanna Oppenheimer, former Barclays UK retail chief executive, is to join as a non-executive director.
FSA managing director Margaret Cole to step down

15 Feb 2012

The Financial Services Authority (FSA) has announced that Margaret Cole, managing director and board member, is to step down later this year.
Aberdeen investment trust chairman to step down

15 Feb 2012

Aberdeen New Dawn investment trust has announced that chairman Alan Henderson will step down at the closed-end fund’s annual general meeting in August.
Eurozone instability “main risk to global recovery”, says Towers Watson

15 Feb 2012

The eurozone sovereign debt crisis is likely to be the biggest risk to the global economic recovery, according to a survey of fund managers’ expectations by Towers Watson.
Legg Mason fund added to Hargreaves Lansdown Wealth 150

15 Feb 2012

The Legg Mason US Smaller Companies fund has been added to the Hargreaves Lansdown Wealth 150 fund buy-list.
Grant Thornton appoints financial planning head

15 Feb 2012

Grant Thornton has appointed Martin Young, former managing partner of Coutts & Co, as head of financial planning for London.
FSA fines firm £97,600 over Ucis failings

15 Feb 2012

The Financial Services Authority (FSA) has fined Derbyshire firm Topps Rogers £97,600 for failings related to its unregulated collective investment schemes (Ucis).
Euro GDP growth shrinks by 0.3%

15 Feb 2012

Economic growth in the euro area contracted by 0.3% during the final quarter of 2011, according to flash estimates by the European Union’s statistical office Eurostat.
Merrill Lynch Wealth Management makes appointments

15 Feb 2012

Merrill Lynch Wealth Management has appointed Amy Howlett and Jim Barrett as financial advisers.
JP Morgan investment trust appoints director

14 Feb 2012

The JP Morgan European Smaller Companies investment trust is to appoint Stephen White as a non-executive director of the board from April.
Henderson to "rationalise" fund range

14 Feb 2012

Henderson Global Investors has announced that it is to merge a number of funds as part of the acquisitions of New Star and Gartmore in recent years.
Schroders fund pulled up by Hargreaves Lansdown over performance

14 Feb 2012

The Schroders UK Mid 250 fund has been criticised by Hargreaves Lansdown over “consistently poor” stock selection and sector positioning.
Inflation to drop to 2% by end of year, says Bank’s King

14 Feb 2012

Mervyn King, the governor of the Bank of England, has forecast inflation to drop to its 2% target by the end of the year in his latest letter to Chancellor George Osborne.
Investors want executives before parliament, says The Share Centre

14 Feb 2012

More than 70% of investors polled by The Share Centre see the value in company executives appearing before parliament.
UK inflation shrinks in January

14 Feb 2012

Inflation shrank from 4.2% in December to 3.6% in January, according to the Office for National Statistics (ONS). This is the lowest rate since November 2010.
Fitch fixed income survey reveals bearish eurozone outlook

13 Feb 2012

A survey by Fitch Ratins has revealed most European fixed income managers believe the eurozone sovereign debt crisis will continue through 2012.
Newton makes fixed income hire

13 Feb 2012

Newton Investment Management has added to its global fixed income team with the appointment of high yield analyst Sebastien Poulin.
Merchant Capital makes plans after FSA action on Pritchard

13 Feb 2012

Merchant Capital has been forced to make provisions for its structured products division after the Financial Services Authority (FSA) took action over Pritchard Stockbrokers.
The Share Centre names most bought consumer funds in January

13 Feb 2012

The Share Centre has revealed that the Legg Mason Japan Equity fund was the most bought by customers of the direct-to-consumer platform.
Survey finds split over RDR impact for investment trusts

13 Feb 2012

A survey by Winterflood Investment Trusts has revealed there is still a significant number of people who believe the retail distribution review (RDR) will have no impact on demand for investment trusts.
Newton Asian Income fund added to Hargreaves Lansdown Wealth 150

13 Feb 2012

The Newton Asian Income fund managed by Jason Pidcock has been added to the Hargreaves Lansdown Wealth 150 fund buy-list.
Schroders to launch Asia smaller companies fund

13 Feb 2012

Schroders is to launch an Asia and emerging regions “Discovery” fund investing in smaller companies.
‘Worrying’ response over impact of RDR on ITs

Fund Strategy - 13 Feb 2012

A survey by Winterflood Investment Trusts has revealed there is still a significant number of people who believe the retail distribution review (RDR) will have no impact on demand for investment trusts.
US regulator charges hedge fund manager over "slimeball activity"

10 Feb 2012

The US Securities & Exchange Commission (SEC) has charged a hedge fund manager and his firm for involvement in insider trading.
Buffett eschews gold for “productive assets”

10 Feb 2012

Billionaire investor Warren Buffett has outlined why he avoids gold in favour of “productive assets” in his latest shareholder letter, published by Forbes magazine.
Former Barings COO joins Brown Shipley board

10 Feb 2012

John Misselbrook and Jim Willens have joined private bank Brown Shipley as non-executive directors.
Fed fines five banks $766.5m over mortgage failings

10 Feb 2012

Five banks have agreed to pay $766.5m (£484m) in monetary sanctions to the US Federal Reserve board over residential mortgage loans.
We don’t need more charges transparency, says Hargreaves

9 Feb 2012

Peter Hargreaves, founder of Hargreaves Lansdown, has waded into the fund charges debate arguing that investors have enough transparency already.
Brainspark pays creditors in court battle

9 Feb 2012

Investment company Brainspark says it has paid all creditors who requested settlement in a bid to overturn a winding-up order.
T1ps chairman steps down

9 Feb 2012

Rupert Cottrell, non-executive chairman at T1ps Investment Management, has stepped down.
Fatca proposals will cut cost by $10bn, says KPMG

9 Feb 2012

Big Four accountancy firm KPMG says fresh proposals for the Foreign Account Tax Compliance Act (Fatca) will cut costs by $10 billion (£6.3 billion).
Fidelity adds European fund to Fast range

9 Feb 2012

Fidelity Worldwide Investment has added to its Fidelity Active Strategy (Fast) range with the addition of the Fast European Opportunities fund.
Alliance Trust Savings boss quits

9 Feb 2012

Robert Burgess, chief executive of Alliance Trust Savings, has stepped down and resigned from the board of parent Alliance Trust.
Hargreaves Lansdown reports profit rise despite fund sales slowdown

9 Feb 2012

Hargreaves Lansdown has reported a 28% year-on-year rise in pre-tax profits to £72m during the six months to December 31, 2011.
Barings manager Harte leaves after fund merger

8 Feb 2012

Colin Harte, manager of the Barings Absolute Return Global Bond trust, has left the company following the merger of the fund into the Multi Asset fund.
Edmond de Rothschild launches Euro Convictions fund

8 Feb 2012

Edmond de Rothschild Asset Management has launched a Euro Convictions fund, drawing on the top pick of its four existing European equities funds.
Walker Crips appoints CIO

8 Feb 2012

Walker Crips Stockbrokers has appointed Mark Rushton, former head of offering for UK wealth management at BNP Paribas, as chief investment officer.
European regulator lists problems faced by investors

8 Feb 2012

Investors face a number of problems that “cannot be solved by transparency”, according to Steven Maijoor, the chairman of the European Securities & Markets Authority (Esma).
Skandia cuts Aviva mandate from UK Strategic Best Ideas

7 Feb 2012

Skandia Investment Group has removed Aviva Investors from its UK Strategic Best Ideas fund, following a recent review of its investment business.
Money market funds face shrinking asset pool, says Fitch

7 Feb 2012

Fitch Ratings has warned that money market fund managers could be hindered by a shrinking pool of “high-quality bank assets”.
RLAM reports 67% new business drop

7 Feb 2012

Royal London Asset Management (RLAM) has reported a 67% drop in net new business to £379m during 2011.
Investment trust manager to leave

7 Feb 2012

Michael Hufton, manager of the SR Europe Investment Trust, has tendered his resignation to management company Sloane Robinson.
FTSE 100 company pays $22m to regulator over Greek bribes

6 Feb 2012

FTSE 100-listed Smith & Nephew has paid more than $22m (£13.9m) to US authorities over “foreign bribery”.
Seed EIS to be launched for creative industries

6 Feb 2012

Ascension Media Group is to launch a seed enterprise investment scheme (SEIS) investing in the creative and digital technology sectors.
Lack of investment risk appetite "worrying", says Axa Wealth

6 Feb 2012

The Financial Services Authority’s (FSA’s) Consumer Awareness survey has highlighted a “worrying lack of consumer investment risk appetite”, according to Axa Wealth.
High earners snubbing IFAs for direct channels, survey finds

6 Feb 2012

Research by management consultancy AT Kearney has revealed that increasing numbers of higher earners are not using IFAs.
Fidelity fund rating under review following manager exit

6 Feb 2012

The Fidelity Global Special Situations fund has had its fund rating placed “under review” by Standard & Poor’s following the departure of former manager Jorma Korhonen.
L&G hires director for investment consultancy

6 Feb 2012

Legal & General (L&G) has appointed Robert Merrifield as investment research and development director of its investment consultancy Investment Management Research Unit (IMRU).
JP Morgan joins with Source for volatility ETF

6 Feb 2012

JP Morgan has launched an exchange-traded fund (ETF) that aims to provide investors with cost-effective, long-term exposure to volatility.
WH Ireland launches UK EIS growth fund

6 Feb 2012

WH Ireland has launched the UK Enterprise Investment Scheme (EIS) Growth fund, targeting UK smaller companies.
Barclays to launch onshore Radar fund

6 Feb 2012

Barclays Capital is to bring its Research Analysis Driven Absolute Return (Radar) fund onshore in March.
Barclays Capital plans onshore fund launch

Fund Strategy - 6 Feb 2012

Barclays Capital is to bring its Research Analysis Driven Absolute Return (Radar) fund onshore in March.
Hidden costs campaign sparks industry debate

Fund Strategy - 6 Feb 2012

The asset management industry has been divided following the launch of a new campaign by former New Star chief investment officer Alan Miller.
Aberdeen fund removed from Wealth 150

3 Feb 2012

The Aberdeen Emerging Markets fund has been removed from the Hargreaves Lansdown Wealth 150 buy-list following its soft closure.
FSA takes action against UBS over rogue trades

3 Feb 2012

The Financial Services Authority (FSA) and the Swiss regulator Finma is to commence enforcement action against UBS over the losses caused by rogue trader Kweku Adoboli.
Punter Southall acquires PSigma Asset Management

3 Feb 2012

Punter Southall Group has taken 100% ownership of joint venture PSigma Asset Management.
Hargreaves Lansdown criticises Manek Growth

2 Feb 2012

Stock selection in the Manek Growth fund has been blamed for the funds poor performance by Hargreaves Lansdown.
Consumer platforms attracted £73.2bn AUA in Q3 2011

2 Feb 2012

Direct-to-consumer (D2C) platforms attracted £73.2 billion in assets under administration (AUA) during the third quarter of 2011, according to platform research company Platforum.
Franklin Templeton Mena investment chief leaves

2 Feb 2012

Joe Kawkabani, the chief investment officer of Middle East and North Africa (Mena) equity investments at Franklin Templeton, has left the asset manager.
Ex-Credit Suisse traders charged in $3 billion bond scam

2 Feb 2012

Four former Credit Suisse investment bankers and traders have been charged by the SEC after allegedly overstating the price of $3 billion (£1.9 billion) in sub-prime bonds.
Lombard makes senior management changes

1 Feb 2012

Friends Life Group’s European wealth management business Lombard International Assurance has announced that both its chairman and chief executive are to leave.
European Commission blocks exchange merger

1 Feb 2012

The European Commission has blocked a merger between the Deutsche Börse and NYSE Euronext based on European Union merger regulation.
SR Europe investment trust could wind up

1 Feb 2012

The board of the SR Europe Investment Trust is to propose that the closed-end fund be wound up.
Legal & General cuts charges for index range

1 Feb 2012

Legal & General Investments has cut the charges on a number of its index fund range.
Barings appoints Latin American fund manager

1 Feb 2012

Baring Asset Management has appointed Enakshi Roy as an investment manager specialising in Latin American equities.
Lloyds overhauls management structure

1 Feb 2012

Lloyds Banking Group has made a number of changes to its senior management structure, following António Horta-Osório’s, the group’s chief executive, return to the bank towards the end of last year.
VCTs to drop Axa Framlington

1 Feb 2012

The boards of the Axa Framlington Aim venture capital trusts (VCTs) are to change fund managers as they move away from investing in the Alternative Investment Market (Aim).
Bestinvest keeps JP Morgan Natural Resources rating

1 Feb 2012

Bestinvest has retained its three-star rating for the JP Morgan Natural Resources fund, arguing that Neil Gregson’s assumption of management duties “was not unexpected”.
Ashcourt Rowan director steps down

1 Feb 2012

Wealth manager Ashcourt Rowan has announced that Ranil Perera will step down from the board of directors from April 1.
Jupiter’s Harrington leaves

31 Jan 2012

Patrick Harrington has left Jupiter Asset Management with management of the Jupiter Undervalued Assets fund falling to Steve Davies.
Friends Life gives F&C 12 month’s notice to pull £2.3 billion

31 Jan 2012

F&C Asset Management says Friends Life’s decision to pull £2.3 billion in assets in December 2012 will have a “minimal” impact on its current year revenues.
Fitch downgrades five eurozone countries

30 Jan 2012

Credit ratings agency Fitch has downgraded the sovereign ratings of five eurozone countries, including Italy, Spain and Belgium.
Olympic gains

27 Jan 2012

The London 2012 Olympics are just six months away. Later this year, athletes from all over the world will gather in East London to take part in the first Olympic games to be held in the capital since 1948.
Markets not constructive in eurozone crisis, says Soros

27 Jan 2012

George Soros says financial markets are not playing a constructive role in the eurozone debt crisis.
Germany and rest of world in disagreement, says Soros

27 Jan 2012

Billionaire investor George Soros has claimed there is a disagreement between Germany and the rest of the world in tackling the current debt crisis.
Pru boss Thiam says regulation could have “unintended consequences”

27 Jan 2012

Tidjane Thiam, chief executive of Prudential, has warned of the “unintended consequences” that European regulation will have on the insurance group at the World Economic Forum in Davos.
Pair linked to insider dealing hedge fund fined by FSA

27 Jan 2012

The Financial Services Authority (FSA) has fined the former compliance officer of Greenlight Capital and a JP Morgan Cazenove trader.
IMF’s Lagarde not “terribly optimistic” over Greece

27 Jan 2012

Christine Lagarde, head of the International Monetary Fund (IMF), has reiterated her commitment to reducing Greece’s debt to GDP ratio to 120% by 2020.
IMA challenges hidden charges claims

27 Jan 2012

The Investment Management Association (IMA) says accusations against the fund management industry of hidden charges “do not stand up”.
Eurozone crisis led to more negative outlooks, says Fitch

26 Jan 2012

The “intensification of the eurozone” crisis in the second half of 2011 caused an overall rise in the proportion of negative rating outlooks, according to Fitch Ratings.
BlackRock confirms retail appointments

26 Jan 2012

BlackRock has appointed Jeremy Roberts as head of UK retail sales, reporting to Tony Stenning, the head of UK retail business.
Barclays to grow wealth management business

26 Jan 2012

Barclays has earmarked its wealth management business for growth during 2012, according to chief executive Bob Diamond.
US hedge fund and owner fined £7.2m

25 Jan 2012

David Einhorn, owner of US hedge fund Greenlight Capital, has been fined £7.2m alongside his fund by the Financial Services Authority (FSA).
Venture capital trusts perform in 2011, finds AIC

25 Jan 2012

Venture capital trusts (VCTs) were among the best performing closed-end funds during 2011, according to research by the Association of Investment Companies (AIC).
IMA launches 0-35% mixed investment sector

25 Jan 2012

The Investment Management Association (IMA) has launched the Mixed Investment 0-35% Shares sector, after it was delayed earlier this year due to lack of demand.
Russell Investments names Pascal Duval as Emea chief

25 Jan 2012

Russell Investments has appointed Pascal Duval as chief executive of its Europe, Middle East & Africa (Emea) businesses.
Dalton overhauls management structure

25 Jan 2012

Dalton Strategic Partnership has announced a number of changes to its ownership and management structure, following the death last year of founder Andrew Dalton.
Fidelity launches Global Dividend fund

25 Jan 2012

Fidelity Worldwide Investment is to add to its equity income range with the launch of the Fidelity Global Dividend fund for manager Daniel Roberts at the end of the month.
UK economy shrinks in final quarter of 2011

25 Jan 2012

The UK economy shrank by 0.2% during the fourth quarter of 2011, with negative growth blamed on “weakness” in the production sector.
Obama backs Buffett Rule

25 Jan 2012

US president Barack Obama has backed a rule which will put an end to tax breaks for the wealthiest 2% of Americans.
Novia gets financial strength rating boost

24 Jan 2012

Wrap platform Novia has had its financial strength rating upgraded by actuarial company AKG from B- to B status.
Thurleigh joins up with Novia

24 Jan 2012

Thurleigh Investment Managers has joined up with wealth management platform Novia Financial to offer four global, multi-asset portfolios.
Quilter bought by private equity firm Bridgepoint

24 Jan 2012

Wealth manager Quilter is to be sold to private equity company Bridgepoint, according to owner Morgan Stanley Smith Barney.
Old Mutual merges European wealth management with Skandia unit

24 Jan 2012

Old Mutual is to combine its continental Europe wealth management business and its Skandia Europe retail businesses.
HSBC cancels $62.5m settlement over Madoff fund

23 Jan 2012

HSBC has terminated a $62.5m class action settlement with investors in a fund exposed to Ponzi fraudster Bernard Madoff’s wealth management business.
Brooks Macdonald waives fixed costs

23 Jan 2012

Brooks Macdonald has confirmed that it has waived fixed costs on its three fund of funds, with just underlying costs and annual management charge remaining.
Provider most important for investors, finds L&G

23 Jan 2012

More than a quarter of investors believe that the investment provider is the biggest influencer when choosing a fund, according to a Legal & General (L&G) survey.
Ex-Threadneedle European specialist joins M&G

23 Jan 2012

Phil Cliff has joined M&G Investments and will manage the M&G Pan European Dividend fund.
EU commissioner sets out regulatory agenda

23 Jan 2012

Michel Barnier, the European commissioner for internal markets & services, says he hopes for a swift agreement on new rules for investor compensation schemes.
No plot to undermine the City, says EU commissioner

23 Jan 2012

Michel Barnier, the European Union’s (EU’s) commissioner for internal market and services, says European leaders were right to block UK demands to safeguard the financial services industry.
Way Group appoints fund manager

23 Jan 2012

Way group has made a number of senior appointments, including making Gabrielle Knights manager of the WAY Asian Spice fund.
iShares adds to commodity ETF range

23 Jan 2012

BlackRock exchange-traded fund (ETF) provider iShares has added four London-listed commodity swap-based products to its range.
Dogs of FTSE 100 fund closes

23 Jan 2012

Fund administrator Way Fund Managers has confirmed the winding-up of the Henderson Rowe Dogs of FTSE 100 fund.
UK dividend pay-outs hit record in 2011, says Capita Registrars

23 Jan 2012

Dividend payments in the UK hit £67.8 billion during 2011 and are expected to rise 11% to £75 billion in 2012, according to Capita Registrars.
MAM Funds assets flat as Midas redemptions match inflows

23 Jan 2012

Fund management group MAM Funds has reported “unchanged” assets under management of £1.7 billion for 2011, in its latest trading update.
Neptune chief highlights Italy’s critical role in region

Fund Strategy - 23 Jan 2012

Robin Geffen, the chief executive of Neptune Investment Management, has backed Mario Monti, the prime minister of Italy, after meeting him during the leader’s visit to London last week.
Regulator attacked over ‘toxic’ label

Fund Strategy - 23 Jan 2012

EEA Fund Management has criticised the FSA for labelling traded life policy investments (TLPIs) as “high risk, toxic products” in guidance on the asset class.
Matrix Private Equity Partners in MBO

20 Jan 2012

The executive partners of venture capital trust (VCT) specialist Matrix Private Equity Partners are to buy out parent Matrix Group’s stake.
Investment trust stalwart Ruddick joins City of London Group board

19 Jan 2012

Lynn Ruddick has joined the board of emerging markets asset manager City of London Group as non-executive director.
BlackRock plans Americas absolute return fund

19 Jan 2012

BlackRock is to seek approval for the launch of an Americas Diversified Equity Absolute Return fund to sit within its BlackRock Strategic Funds range.
Henderson appoints fixed income head

19 Jan 2012

Henderson Global Investors has appointed Jim Irvine as head of its fixed income business.
Jupiter reports poor retail sales environment despite AUM growth

19 Jan 2012

Jupiter Fund Management has revealed assets under management (AUM) increased quarter-on-quarter to £22.8 billion in the final quarter of 2011, despite outflows of £225m.
St James's Place reports 10% rise in inflows

19 Jan 2012

Wealth manager St James’s Place has announced a 10% rise in net inflows to £3.3 billion during 2011.
OBSR removes Newton fund from service after manager shake-up

18 Jan 2012

Old Broad Street Research (OBSR) has dropped the Newton International Growth fund from its fund ratings service, following recent changes at the asset manager.
Threadneedle fund placed under review by S&P

18 Jan 2012

Standard & Poor’s has placed the Threadneedle European fund under review after former manager William Davies was promoted to head of global equities.
EEA responds to "reckless" FSA over life settlements

18 Jan 2012

EEA Fund Management has written to the Financial Services Authority (FSA) after the regulator described traded life policy investments as “high risk, toxic products”.
Aberdeen names Asia Pacific strategy and asset allocation head

18 Jan 2012

Aberdeen Asset Management has appointed Singapore-based strategist Peter Elston as head of Asia Pacific strategy and asset allocation.
Threadneedle launches European Absolute Alpha fund

18 Jan 2012

Threadneedle Investments has added to its offshore range with the launch of the Threadneedle European Absolute Alpha fund, to be managed by Paul Doyle.
Standard Life Investments launches MyFolio income range

18 Jan 2012

Standard Life Investments has added to its MyFolio fund offering with two income ranges: Multi Manager Income and Managed Income.
Thesis appoints Principal founder as director

18 Jan 2012

Thesis Asset Management has appointed Anne Gilbert, founder and former chief executive of Principal Investment Management, as a non-executive director.
Robin Hood tax would undermine single market, claims Aima

18 Jan 2012

The Alternative Investment Management Association (Aima) says a financial transaction tax could undermine the European Union’s single market and could lead to a decrease in cross-border trading.
UBS fined $300,000 by US regulator

18 Jan 2012

UBS Global Asset Management has been fined $300,000 by the US Securities & Exchange Commission (SEC) for “failing to properly price securities” in three mutual funds that caused a mis-statement of net asset value.
FSA guidance on legacy business “unclear and incomplete”, says IMA

17 Jan 2012

The Investment Management Association (IMA) has labelled proposed guidance on the treatment of legacy business as “unclear and incomplete”.
Risk appetite returns in 2012, says BofA ML

17 Jan 2012

Cash levels among institutional investors have fallen to their lowest levels since July 2011, according to the Bank of America Merrill Lynch (BofA ML) Survey of Fund Managers.
Newton announces management shake-up

17 Jan 2012

Newton Investment Management has announced that Jeff Munroe, chief investment officer, will step down to lead the firm’s global equities team.
Eurozone inflation falls to 2.7%

17 Jan 2012

Inflation in the eurozone fell to 2.7% in December, according to the latest figures from Eurostat, while inflation in the European Union as a whole dropped to 3%.
Bank says more accountability needed

17 Jan 2012

The Bank of England says new responsibilities for financial stability will require new mechanisms, with direct accountability to parliament.
Inflation drops to 4.2% in December

17 Jan 2012

Inflation dropped to 4.2% during December, falling from 4.8% in November, according to the latest figures from the Office for National Statistics (ONS).
Middle East closed-end fund to list on Aim

17 Jan 2012

Abu Dhabi Capital Management has announced that Qannas Investments intends to list on the Alternative Investments Market (Aim) as a closed-end investment company.
EFSF downgraded by Standard & Poor's

16 Jan 2012

The European Financial Stability Facility (EFSF) has had its AAA rating downgraded by rating agency Standard & Poor’s, following its recent downgrade of nine eurozone countries.
Lazard launches "controlled volatility" fund

16 Jan 2012

Lazard Asset Management has launched the Dublin-based Lazard Global Controlled Volatility fund for managers Susanne Willumsen and Paul Moghtader.
Rensburg AIM VCT to review management costs

16 Jan 2012

The board of the Rensburg AIM venture capital trust (VCT) is to review investment management costs and seek approval for a new agreement at its annual general meeting in June.
The Share Centre reveals most bought consumer funds in December

16 Jan 2012

Private investor platform The Share Centre says the Legg Mason Japan Equity fund rocketed to the top of its most bought funds during December 2011.
Nucleus appoints managing director

16 Jan 2012

IFA-owned wrap platform Nucleus has appointed John McNeil to the newly-created managing director role.
Barings launches global mining fund

16 Jan 2012

Baring Asset Management is to launch a mining fund for manager Clive Burstow, who rejoined the firm last March.
Ex-T Bailey chief Britton returns to industry

16 Jan 2012

Jason Britton, the former chief investment officer of T Bailey, has started his own investment management consultancy.
Bestinvest awards Baronsmead VCTs five stars

16 Jan 2012

Bestinvest has awarded four Baronsmead venture capital trusts (VCTs) five-star ratings, ahead of a top-up offer.
Legg Mason Miller funds downgraded

16 Jan 2012

Standard & Poor’s has removed the ratings held by two funds co-managed by Legg Mason’s Bill Miller and Sam Peters.
France downgrade "disappointing", says Fidelity chief Rossi

16 Jan 2012

Dominic Rossi, the chief investment officer for equities at Fidelity, says the downgrade of France by Standard & Poor’s is part of a “general re-pricing of sovereign debt”.
Legg Mason funds lose S&P rating

Fund Strategy - 16 Jan 2012

Standard & Poor’s has removed the ratings held by two funds co-managed by Legg Mason’s Bill Miller and Sam Peters.
France and Austria lose AAA status, Italy downgraded

14 Jan 2012

Rating agency Standard & Poor’s (S&P) has cut France and Austria’s AAA credit ratings and has downgraded a number of other European countries including Italy, Spain and Portugal.
Consumer watchdog claims "huge variations" in IFA fees

14 Jan 2012

Consumer watchdog Which? has claimed there are huge variations in IFA fees, based on a survey of 200 advisers.
Falklands or Malvinas?

13 Jan 2012

Just before Christmas, South American trade pact Mercosur began enforcing a ban on boats flying the Falklands flag.
Aifa chief quits for ABI

13 Jan 2012

Stephen Gay has stepped down as director general of the Association of Independent Financial Advisers (Aifa).
Treasury Committee asks for review into pre-approved products

13 Jan 2012

The Treasury Select Committee has called for the Financial Services Authority successor, the Financial Conduct Authority (FCA), to hold a review into pre-approved products.
MPs want “fresh approach” for FSA successor

13 Jan 2012

The Treasury Select Committee has called for the successor to the Financial Services Authority (FSA) to have its objectives rewritten.
Fitch downgrades four Hungarian banks

12 Jan 2012

Fitch Ratings has downgraded four Hungarian banks following the country’s downgrade to “BBB” status.
Financial services industry generates 8.9% of UK GDP

12 Jan 2012

Research from City lobbying group TheCityUK has revealed that the financial services industry represented 8.9% of UK GDP in 2011.
Thousands of jobs to go at RBS

12 Jan 2012

Royal Bank of Scotland Group (RBS) has announced 3,500 jobs will be cut from its global banking and markets business as part of changes to the wholesale and investment banking business.
ABI appoints RLAM’s Talbut to investment committee

12 Jan 2012

The Association of British Insurers (ABI) has named Royal London Asset Management’s (RLAM’s) Robert Talbut as chairman of its investment committee.
VCTs upgraded by Bestinvest

11 Jan 2012

Bestinvest has upgraded two Downing venture capital trusts (VCTs) and assigned a five-star rating to another fund.
Cofunds sees cautious managed funds sale spike

11 Jan 2012

Cautious managed funds accounted for more than half of total net retail sales through Cofunds during the final quarter of 2011.
RBS and Lloyds stake sales to take longer, says UKFI

11 Jan 2012

UKFI has confirmed that the sale of the government’s stakes in Royal Bank of Scotland Group and Lloyds Banking will take longer than expected.
AllianceBernstein launches high yield bond fund

11 Jan 2012

AllianceBernstein has launched a Luxembourg-domiciled short duration high yield fund, focusing on sub-investment grade corporate debt.
Tobin tax is a political fig leaf

10 Jan 2012

As the eurozone sovereign debt crisis still shows no sign of abating, many headlines and much debate has centered on the introduction of a financial transactions tax.
Fidelity’s Shah prepared for Lloyds long haul

10 Jan 2012

Sanjeev Shah, manager of the Fidelity Special Situations fund, says investors in Lloyds Banking Group will be rewarded for holding the stock over the longer term.
Kames poaches First State CFO Cooper

10 Jan 2012

Kames Capital has named First State Investments chief financial officer (CFO) Greg Cooper as its chief administrative officer.
Double dip scenario unlikely, says Shah

10 Jan 2012

Fidelity Worldwide Investment’s Sanjeev Shah says he remains convinced that markets will not enter into a double dip recession.
Net retail sales slump in November, says IMA

9 Jan 2012

The Investment Management Association (IMA) has reported a year-on-year slump in net retail fund sales during November.
FSA appoints FSCS chairman

9 Jan 2012

The Financial Services Authority (FSA) has appointed Lawrence Churchill as chairman of the Financial Services Compensation Scheme (FSCS).
Ascentric names sales and marketing director

9 Jan 2012

Wrap platform Ascentric has announced that HSBC’s Mike Morrow will join in March as sales and marketing director.
Newton expands UK private client team

9 Jan 2012

Newton Investment Management has added to its UK private client team with the appointment of Alexandra Dick, senior account manager.
Allianz RCM UK Growth fund comes under fire

9 Jan 2012

Hargreaves Lansdown analyst Meera Patel says investors in Allianz RCM UK Growth funds should not “settle for second rate performance”.
Wine enterprise investment scheme launches

9 Jan 2012

The Wine Enterprise Investment Scheme (TWEIS) is to launch in 2012, under the management of wine investment veteran Andrew della Casa.
Dexion hires JP Morgan Cazenove’s Skinner

9 Jan 2012

Boutique investment bank Dexion Capital has appointed Tom Skinner, former research analyst at JP Morgan Cazenove, as head of research.
L&G launches commodity ETF with Source

9 Jan 2012

Legal & General Investment Management (LGIM) has launched a commodity index tracking product with exchange-traded product provider Source.
Optimism and revenues plummet in fourth quarter, says PwC survey

9 Jan 2012

Optimism in the investment management industry shrank to its lowest level in 2011 during the fourth quarter, according to the latest survey by PricewaterhouseCoopers (PwC) and the CBI, the employers’ organisation.
Arc Capital aims to split fund in two under new restructuring plan

Fund Strategy - 9 Jan 2012

The board of Arc Capital has written to investors outlining plans to restructure the investment trust after a previous move to implement a discount control mechanism was opposed.
Low demand prompts IMA to shelve new sector

Fund Strategy - 9 Jan 2012

?The IMA has delayed the launch of a sector, after too few funds were willing to enter it.
Optimism and revenues in decline

Fund Strategy - 9 Jan 2012

Optimism in the investment management industry shrank to its lowest level in 2011 during the fourth quarter, according to the latest survey by PricewaterhouseCoopers (PwC) and the CBI, the employers’ organisation.
Would Scottish independence affect investors?

6 Jan 2012

For the first time in centuries the prospect of a sovereign Scotland seems an increasingly possible prospect, but what would it mean for non-Scottish investors?
Severe financial volatility ahead without eurozone solution, says Fitch

6 Jan 2012

Fitch has claimed that a comprehensive solution to the eurozone crisis is “technically and politically out of reach” in an update for clients.
Yeadon appointment confirmed

5 Jan 2012

Andrew Yeadon, the former head of multi-manager at Schroders, has been confirmed as the head of investments for Nedgroup Investments.
City Financial relaunches global bond fund

5 Jan 2012

City Financial has relaunched its City Financial Strategic Global Bond fund with a new manager and management style.
Alliance Trust’s Knox to retire

5 Jan 2012

Alliance Trust has announced that chairman Lesley Knox is to retire in April and will be replaced by another female chair, Karin Forseke.
US investment adviser accused over LinkedIn share scam

5 Jan 2012

The US Securities & Exchange Commission (SEC) has charged an Illinois-based investment adviser over claims he tried to sell fictitious securities on LinkedIn.
Non-bank UK companies profitability beats estimates

4 Jan 2012

Private non-financial companies reached their most profitable level since the third quarter of 2008, according to the Office for National Statistics (ONS).
Unicredit drops after launching €7.5 billion share offer

4 Jan 2012

Italian banking giant Unicredit has seen its share drop by 8% to 5,825c (at 1102 GMT) after launching a multi-billion euro share offer.
Life settlements in spotlight again as US regulator probes brokerage

4 Jan 2012

US regulator the Securities & Exchange Comission (SEC) has charged a life settlements brokerage and three senior executives for their involvement in a fraudulent disclosure and accounting scheme.
IMA sector launch delayed

4 Jan 2012

The launch of one of the Investment Management Association (IMA) managed sectors has been delayed as there are too few funds to populate it.
M&G to launch international equity fund next month

3 Jan 2012

M&G Investments is to launch the M&G International Specialist Equity fund next month as part of a rationalisation of the Prudential unit trust range.
Nichols takes over from Anand on European fund

3 Jan 2012

Mark Nichols has taken over from Paras Anand on the F&C European Growth & Income fund.
M&G appoints deputy fund manager

3 Jan 2012

M&G Investments has named Colm D’Olier as deputy fund manager on the M&G Global Emerging Markets and M&G Asian funds.
Newton chief among New Year’s honours list

3 Jan 2012

Helena Morrissey, chief executive of Newton Investment Management, was among a number of people from the financial services industry to receive a gong in the New Year’s honours list.
Bestinvest downgrades First State funds

30 Dec 2011

Bestinvest has downgraded four First State funds ahead of their soft closure from the beginning of 2012.
Hargreaves Lansdown labels Artemis fund “disappointing”

30 Dec 2011

The Artemis European Growth fund managed by Peter Saacke and Philip Wolstencroft has been labelled “disappointing” by Hargreaves Lansdown.
Italy borrowing costs drop slightly

29 Dec 2011

A fall in short-term borrowing costs for Italy was offset by elevated long-term debt costs, which dipped slightly below the 7% mark.
Standard Life Investments chairman steps down

29 Dec 2011

Standard Life Investments chairman Colin Buchan is to step down from 2012 and will be replaced by non-executive director John Paynter.
Hargreaves Lansdown removes First State funds from Wealth 150

29 Dec 2011

Hargreaves Lansdown has removed three First State funds from its Wealth 150 list of favourite funds.
Fools Russia in

23 Dec 2011

Recent events in Russia have put the Eurasian powerhouse in the spotlight after protestors filled the streets in support of political change, but what does it mean for investors?
OBSR makes fund rating changes

23 Dec 2011

Old Broad Street Research (OBSR) has announced a number of rating changes and removals from the service in its latest fund review.
De Blonay fund dropped from Wealth 150

22 Dec 2011

Hargreaves Lansdown has dropped the Jupiter Financial Opportunities fund - managed by Guy de Blonay - from its Wealth 150 buy-list.
US growth revised down again

22 Dec 2011

The US Bureau of Economic Analysis has yet again revised down US GDP growth for the third quarter of the year.
France to borrow most in 2012, says Fitch

22 Dec 2011

Gross government borrowing in France is set to reach €359 billion (£299 billion) during 2012, far outstripping its AAA-rated European peers, according to Fitch.
Blue Planet looking to merge 12 trusts

22 Dec 2011

Blue Planet Investment Trusts has revealed that it is “currently evaluating the possible merger of all 12 investment trusts”.
Longbow and ProVen VCTs could merge

22 Dec 2011

Investors’ views are being sought on a possible merger between the Longbow Growth & Income and ProVen Health venture capital trusts (VCTs).
Are politicians right to bash the ratings agencies?

22 Dec 2011

It has become very popular for politicians to bash ratings agencies of late, as some AAA-rated countries begin to see their ratings put under the spotlight.
Government solar tariff payment cuts “illegal”

21 Dec 2011

Plans by the government to cut solar feed-in tariff payments are illegal the High Court has ruled, following a legal challenge.
Russia could become like Egypt, says Liontrust’s Flanagan

21 Dec 2011

Political instability in Russia could lead to market turmoil similar to that seen in Egypt during the Arab Spring, according to Liontrust’s head of emerging markets.
Swip names distribution and client management director

21 Dec 2011

Swip has promoted Francis Ghiloni to director of distribution and client management on a permanent basis.
Artemis fund removed from Wealth 150

21 Dec 2011

Hargreaves Lansdown has removed the Artemis Special Situations fund from its Wealth 150 list of favourite funds.
Duffield hits back at Evershed tribunal

21 Dec 2011

Ex-New Star boss John Duffield has set out his own response to the unfair dismissal claim brought to an employment tribunal by former fund manager Patrick Evershed.
Monetary Policy Committee unanimous in rate and QE decision

21 Dec 2011

The Bank of England’s Monetary Policy Committee “unanimously” agreed to hold the base rate at 0.5% in December’s meeting.
Euro MPs call for less reliance on the “Big Three”

21 Dec 2011

European MPs have called for measures to reduce reliance on the “Big Three” rating agencies - Moody’s, Fitch and Standard & Poor’s - and to limit their impact on sovereign borrowing costs.
Investment trust acquires Barclays assets in £143.4m deal

20 Dec 2011

Infrastructure investment trust HICL Infrastructure Company has acquired 26 private finance initiative (PFI) and private public partnership (PPP) projects from Barclays for £143.4m.
High court orders rogue CIS operator to repay £21.6m

20 Dec 2011

The High Court in Northern Ireland has ordered Francois de Dietrich to repay £21.6m after it found he had operated a collective investment scheme (CIS) without authorisation.
Aviva to close Manager of Managers Income fund

20 Dec 2011

Aviva Investors is to close the Manager of Managers Income fund after its sister funds were merged away earlier this year.
Pru chairman McGrath to retire

20 Dec 2011

Harvey McGrath, chairman of Prudential, is to retire in 2012 after a search for a successor has been completed.
US regulators charge ex-Madoff employee who hid ponzi scheme

20 Dec 2011

The Securities & Exchange Commission (SEC) has charged “long-time Bernie Madoff employee” Enrica Cotellessa-Pitz with falsifying books and records.
Treasury Committee opens rating agencies inquiry

20 Dec 2011

The Treasury Committee is seeking written submissions for an inquiry into credit rating agencies, which will investigate whether the “big three” have become too powerful.
Better Capital to raise a further £200m

19 Dec 2011

Better Capital - the fund managed by veteran investor John Moulton - is to raise £200m to invest principally in UK and Irish turnaround opportunites by converting to a protected cell structure.
RBS to shrink investment bank business

19 Dec 2011

Chancellor George Osborne has announced that Royal Bank of Scotland Group (RBS) will shrink its investment bank business to focus elsewhere.
St James’s Place appoints AIC chair to new role

19 Dec 2011

Wealth manager St James’s Place has announced that Association of Investment Companies (AIC) chairman Sarah Bates will take over as senior independent director.
Brooks Macdonald fund acquires Birmingham property

19 Dec 2011

Brooks Macdonald Funds has acquired Hive a mixed-use property comprising 167 residential units and commercial space.
Henderson offloads Hermes private equity stake

19 Dec 2011

Henderson has disposed of a stake in Hermes GPE, a private equity fund of funds, which it acquired as part of the acquisition of Gartmore.
Will it be a merry Christmas for UK retailers?

16 Dec 2011

The UK high street can usually depend on a Christmas lift from the consumer, but this year with sentiment at low levels, there is bound to be some knock-on effect.
Ex-UBS adviser banned and fined £150k

16 Dec 2011

The Financial Services Authority (FSA) has banned and fined Jaspreet Singh Ahuja, a former UBS adviser, £150,000 “for failing to act with integrity” and for not being a “fit and proper person”.
Downgrade UK, says French central banker

16 Dec 2011

Christian Noyer, governor of the Banque de France, has called on rating agencies to downgrade the UK first ahead of France.
FSA insider dealing case leads to two-year prison sentence

15 Dec 2011

An insider dealing case brought to court by the Financial Services Authority has resulted a in a two year prison senence.
Charter European board chooses BlackRock trust

15 Dec 2011

The Charter European Trust board has chosen not to use the open-ended Jupiter European fund, preferring instead to use the BlackRock Greater Europe investment trust as a rollover fund.
Threadneedle American fund rating reinstated

15 Dec 2011

The Threadneedle American fund has been reinstated to the Old Broad Street Research (OBSR) rating service with a lower rating.
North Investment Partners appoints three non-execs

15 Dec 2011

North Investment Partners has appointed three non-executive directors to the board, representing three investment groups.
Ashcourt Rowan appoints Ofcom Olympic director

15 Dec 2011

Wealth management group Ashcourt Rowan has named Richard Sinclair, delivery director of the Olympic and Paralympic Games, as chief operating officer.
Vinculum registers five funds

15 Dec 2011

Former chief executive of Liontrust Nigel Legge’s new firm Vinculum has five equities funds registered.
Fund universe shrinks in 2011

14 Dec 2011

New funds were heavily outnumbered by fund closures in 2011 as managers shied away from launches.
MAM investment trust to cut dividends as part of overhaul

14 Dec 2011

The board of the Midas Income & Growth Trust has made a number of changes to the closed-end fund, which has included cutting the dividend.
Key investor could block continuation of BlackRock investment trust

14 Dec 2011

Asset manager City of London Group has threatened that it could oppose continuation of the BlackRock World Mining Trust over its “unreasonably large” discount.
Sumitomo moves into UK institutional space

14 Dec 2011

Sumitomo Mitsui Trust Holdings has agreed to acquire an interest in London-based investment manager NewSmith Capital Partners.
Afternoon markets: Petrofac strongest at the FTSE 100 close

13 Dec 2011

Oil & gas engineering company Petrofac was the biggest climber at the close of trading as share price climbed 5.1% higher to 1,443p.
Hargreaves removes Midas fund from Wealth 150

13 Dec 2011

Hargreaves Lansdown has removed the Midas Balanced Income fund from its fund buy-list the Wealth 150, in what it has described as a “precautionary measure”.
Majority of Fundweb readers want fresh blood for industry

13 Dec 2011

An overwhelming majority of Fundweb.co.uk readers have called for a younger generation of investment advisers for the financial services industry.
Legg Mason brings $12 billion global fixed income fund to UK

12 Dec 2011

Legg Mason has made its $12 billion Brandywine Global Opportunistic Fixed Income fund available to UK investors through its Dublin-domiciled fund range.
Everybody’s to blame but nobody is to blame on RBS

12 Dec 2011

The Financial Services Authority (FSA) report into the failure of Royal Bank of Scotland Group is telling.
RBS: Taxpayer should never have had to rescue us

12 Dec 2011

Philip Hampton, chairman of Royal Bank of Scotland Group, has said UK taxpayers “should never have had to rescue” the bank.
IFA trade body says FSA should mind interventionist strategy

12 Dec 2011

The Association of Independent Financial Advisers (AIFA) has called for the Financial Services Authority (FSA) to be aware of the negative impact of intervention.
Lombard Odier poaches ING’s global chief investment officer

12 Dec 2011

Lombard Odier Investment Managers has hired Jan Straatman as chief investment officer.
Friends Life hires LV= fixed income team

12 Dec 2011

Friends Life has made its first hires for its recently-launched asset management business with the appointment of the former LV= fixed income team.
FT publisher Pearson to sell FTSE stake for £450m

12 Dec 2011

Financial Times publisher Pearson has announced that it is to sell its 50% stake in FTSE International to the London Stock Exchange Group in a deal worth £450m.
FSA publishes RBS report

12 Dec 2011

The Financial Services Authority’s (FSA’s) report has found poor management and board decisions caused the failure of Royal Bank of Scotland.
Fewer launches shrink fund universe

Fund Strategy - 12 Dec 2011

New funds were heavily outnumbered by fund closures in 2011 as managers shied away from launches.
Platforms will play key role after RDR, says Wins

Fund Strategy - 12 Dec 2011

Platforms will play an important part in whether investment trusts benefit from the retail distribution review (RDR), according to Winterflood Investment Trusts (Wins).
BRICing it

9 Dec 2011

As much of the world’s focus currently remains on the Western world and its economic problems, what has happened to the BRIC economies that have been relied upon to power the recovery?
FSCS to write to MF Global customers

9 Dec 2011

The Financial Services Compensation Scheme (FSCS) is to send MF Global UK customers application forms for compensation.
Britain refuses to back EU treaty

9 Dec 2011

Prime minister David Cameron’s refusal to back European Union treaty changes has caused further uncertainty in Europe.
Fidelity manager change “good news for investors”

8 Dec 2011

The departure of Jorma Korhonen as manager of the Fidelity Global Special Situations fund “is good news for investors”, according to Hargreaves Lansdown.
OBSR drops Threadneedle fund after Podger departure

8 Dec 2011

Old Broad Street Research (OBSR) has dropped the Threadneedle Global Select fund, following the departure of manager Jeremy Podger.
Investec to fall out of FTSE 100

8 Dec 2011

Financial services group Investec is to slip out of the FTSE 100, in the latest rebalancing of the blue chip index.
Barings makes multi-asset hire

8 Dec 2011

Baring Asset Management has expanded its multi-asset team with the hire of investment manager Matthew Whitbread.
Aberdeen proposes multi-manager fund mergers

8 Dec 2011

Aberdeen Asset Management is proposing to merge three equity multi-manager funds into the Aberdeen Multi-Manager Equity Managed Portfolio.
Not all investment trusts will benefit from RDR, says Winterflood

7 Dec 2011

Platforms will play a key part in whether investment trust sales will benefit from the implementation of the retail distribution review (RDR), according to Winterflood Investment Trusts.
Europe is holding up the recovery

7 Dec 2011

It’s the time of year when financial journalists begin to receive dozens of press releases from companies from across the financial services spectrum.
Osborne happy with Mervyn King despite inflation failures

7 Dec 2011

Chancellor George Osborne has backed Mervyn King, the governor of the Bank of England, despite failures to meet the 2% inflation rate on several occasions.
More quantitative easing needed, says British Chambers of Commerce

7 Dec 2011

The British Chambers of Commerce (BCC) has called for further quantitative easing (QE) to help shore up the UK economy.
Skipton Building Society appoints distribution director

7 Dec 2011

Mark Fleet, the former managing director of Skipton Financial Services, has been appointed to the Skipton Building Society board as distribution director.
Evershed and Henderson settle out of court

7 Dec 2011

Patrick Evershed has settled his employment tribunal action against Henderson Global Investors.
FSA sets out risk role for non-executive directors

7 Dec 2011

The Financial Services Authority (FSA) has put out a consultation on guidance for non-executive directors to ensure customers are treated fairly.
Threadneedle launches offshore UK equities fund

7 Dec 2011

Threadneedle Investments has launched a Luxembourg-domiciled UK equities fund under its Sicav range for Simon Brazier, head of UK equities.
Passive fees would make active funds more popular, says Schroders

7 Dec 2011

More advisers would choose active funds if they carried the same fees as passive products, according to a poll by Schroders.
Age may pose problem for retail advice industry, finds FSA report

7 Dec 2011

A report comissioned by the Financial Services Authority (FSA) designed to estimate the size of the retail investment adviser population has warned that ageing could be a challenge.
Henderson to fight investors in courts

7 Dec 2011

Henderson Global Investors says it will “vigorously defend” itself in the courts after it was served with legal proceedings by investors in one of its infrastructure funds.
Kames promotes Shaw on UK equity fund

6 Dec 2011

Kames Capital has confirmed that Peter Shaw will be promoted to joint manager on the UK Equity fund from next year.
Draft financial services bill unveils VCT changes

6 Dec 2011

Changes to the venture capital trust (VCT) and enterprise investment schemes (EIS) have been announced in the government’s draft financial services bill.
Treasury reveals further details on Seed EIS

6 Dec 2011

The draft financial services bill has seen the confirmation of the seed enterprise investment scheme (SEIS), announced during last week’s autumn statement by chancellor George Osborne.
Eurozone GDP growth estimate remains unchanged

6 Dec 2011

Eurozone GDP growth estimates for the third quarter remain unchanged, according to the European Union’s statistics office Eurostat, while estimates for the European Union as a whole have been revised upwards.
Greater choice “not always good for consumers”, says FSCP

6 Dec 2011

While financial education standards remain low, generic financial advice and simpler products could benefit consumers, according to Kay Blair, vice chair of the Financial Services Consumer Panel (FSCP).
Fitch says Buffett getting sentimental

6 Dec 2011

Rating agency Fitch Ratings says Warren Buffett’s latest acquisition of an Omaha media company shows “a bit of sentiment” by the investment veteran.
S&P puts 15 eurozone members on downgrade alert

6 Dec 2011

Rating agency Standard & Poor’s (S&P) has put the long-term debt ratings of 15 countries within the eurozone “on CreditWatch with negative implications” over concerns of further turmoil in the markets.
American funds prominent in week of launches

Fund Strategy - 5 Dec 2011

New offerings for American equity investors were among a series of fund launches last week.
Out with the old

2 Dec 2011

The approach of the New Year always offers a time for reflection and change, something the the Investment Management Association (IMA) will know only too well.
Bank of England drafts in financial crisis specialist

2 Dec 2011

The Bank of England has appointed Andrew Gracie as director of its Special Resolution Unit.
M&G names manager for European high yield fund

2 Dec 2011

M&G Investments has appointed James Tomlins as fund manager for its European High Yield Bond fund.
Rathbone director appointed to FSCS board

2 Dec 2011

Paul Stockton, group finance director of Rathbone Brothers, has been named as a non-executive director of the Financial Services Compensation Scheme (FSCS).
Investec to launch multi-asset emerging markets fund

1 Dec 2011

Investec Asset Management is to launch the Investec GSF Emerging Markets Multi-Asset fund for clients seeking a “one stop shop” for investment in emerging markets.
BNY Mellon’s Alcentra to launch closed-end fund

1 Dec 2011

BNY Mellon Asset Management boutique Alcentra is to launch a closed-end fund in 2012 investing in European company debt.
OBSR downgrades Marlborough and Lazard funds

30 Nov 2011

Fund ratings agency Old Broad Street Research (OBSR) has downgraded the Marlborough Far East Growth and Lazard UK Omega funds in its latest review.
Six central banks coordinate to support global financial system

30 Nov 2011

The Bank of England is one of six central banks that has coordinated efforts with others to provide liquidity to the global financial system.
IMA to create Global Equity Income sector

29 Nov 2011

The Investment Management Association (IMA) is to establish a Global Equity Income sector from January 1, 2012.
Statement 2011: Plan A has failed, says Balls

29 Nov 2011

Shadow chancellor Ed Balls says George Osborne’s plans are a colossal failure, highlighting higher levels of borrowing.
Aberdeen chief joins British Sky Broadcasting board

29 Nov 2011

Aberdeen Asset Management chief executive Martin Gilbert has joined the board of FTSE 100-listed broadcaster British Sky Broadcasting.
Brooks Macdonald hires ex-New Star Thompson

29 Nov 2011

Brooks Macdonald Asset Management has appointed former New Star fund manager Toby Thompson as investment management director.
Schroders to launch US Alpha Plus Fund

29 Nov 2011

Asset manager Schroders is to launch a US Alpha Plus fund for Joanna Shatney, head of US large cap equities.
Former Real Estate Investors chairman dies

29 Nov 2011

Peter Lewin, founder and former chairman of property investment company Real Estate Investors, has died.
Resolution to concentrate on UK, Tiner role to be reduced

28 Nov 2011

Resolution is to seek shareholder approval to narrow its “scope of activities” to its “UK Life Project”, which has been focused on life insurer Friends Life.
HSBC Madoff class action settlement capped at $62.5m

28 Nov 2011

HSBC has announced its settlement with defendants invested in a fund exposed to ponzi fraudster Bernard Madoff’s wealth management business has been capped at $62.5m.
FSA issues “toxic” traded life policies warning

28 Nov 2011

The Financial Services Authority (FSA) has warned that traded life policy investments are “high risk, toxic products that are generally unsuitable for the majority of UK investors”.
Mattioli Woods in first half profit warning

28 Nov 2011

Wealth management business and pensions consultancy Mattioli Woods has issued a first half profit warning in its latest trading update.
Ex-Liontrust chief launches first fund under new venture

28 Nov 2011

Nigel Legge, former chief executive of Liontrust, has launched his first fund with his new asset management company, Vinculum.
Bestinvest downgrades several 'mediocre' funds

Fund Strategy - 28 Nov 2011

Bestinvest has downgraded several fund of hedge funds investment trusts in its latest review of the sector.
Fringe European countries to be target for new domiciles

24 Nov 2011

European countries including Malta and Cyprus will become new destinations for fund tax jurisdictions, says Kevin Conway, partner at King & Spalding.
Bestinvest downgrades funds of hedge funds

23 Nov 2011

Bestinvest has downgraded a number of closed-end funds of hedge funds in its latest review.
FSA names new chairman for Ombudsman Service

23 Nov 2011

The Financial Services Authority (FSA) has named Nicholas Montagu as chairman of the Financial Ombudsman Service.
Invista Real Estate takes Lloyds to court over missed payment

23 Nov 2011

Invista Real Estate Investment Management is to take on Lloyds Banking Group over a missed payment of £545,600.
Former IMA chairman labels banking lobby “dishonest”

23 Nov 2011

Robert Jenkins says the lobbying in the banking industry has been “intellectually dishonest” in its campaign against reform and could promote fear.
US GDP estimate revised downwards

22 Nov 2011

US economic growth has been revised down to 2% for the third quarter, according to the Bureau of Economic Analysis, but is still expected to be stronger than the second quarter.
FSA fines and bans hedge fund compliance officer

22 Nov 2011

The Financial Services Authority (FSA) has banned and fined hedge fund compliance officer Sandradee Joseph for a breach of its approved persons principles.
Eurozone construct was flawed, says FSA’s Turner

22 Nov 2011

Adair Turner, chairman of the Financial Services Authority (FSA), says “radical reforms” are needed to address the “excesses of the private financial system and the structural faults of the eurozone”.
Allied Irish Bank to sell investment management arm

21 Nov 2011

Allied Irish Bank has agreed to sell its subsidiary AIB Investment Managers to Prescient Holdings for an undisclosed fee.
Better in than out?

21 Nov 2011

Relations between Britain and Germany have always been a tricky subject to tackle.
Braemar seeks another year deferral for redemptions

21 Nov 2011

Braemar Group has written to shareholders requesting a further 12 months’ suspension of redemptions to its £14.3m Student Accommodation fund.
Legg Mason names business development director

21 Nov 2011

Legg Mason Global Asset Management has appointed Dan Franklin as director of business development for the UK.
Van der Wielen starts Friends Life role

21 Nov 2011

John Van der Wielen has begun his new role as managing director of international for Friends Life, reporting to chief executive Andy Briggs.
RBS head of risk snubs Lloyds

21 Nov 2011

Royal Bank of Scotland Group has announced that Nathan Bostock, its chief risk officer, is to remain with the bank, rather than joining Lloyds Banking Group.
Tory peer Heseltine says Britain will join the euro

21 Nov 2011

Conservative party peer Michael Heseltine says Britain will join the eurozone at some point in the future.
Managers expect another US credit downgrade

Fund Strategy - 21 Nov 2011

More than half of global fund managers expect a further downgrade of America’s credit rating before the end of 2013, according to the latest Bank of America Merrill Lynch (BoA ML) global fund manager survey.
The next two dominos?

18 Nov 2011

In the 1950s, US president Dwight D Eisenhower proposed the domino theory regarding the spread of communism in Asia.
German finance minister predicts end for sterling

18 Nov 2011

Wolfgang Schäuble, the German finance minister, has predicted the end of the British pound in an interview with newspaper Die Welt.
Changes at the top for Investec

17 Nov 2011

Investec has announced that chairman Hugh Herman has stepped down after 18 years’ service on the board.
Richard Branson snaps up Northern Rock

17 Nov 2011

Northern Rock has been sold to Richard Branson’s Virgin Money in a deal worth £747m, which could rise to more than £1 billion.
JP Morgan Russian trust cuts charges

17 Nov 2011

The JP Morgan Russian Securities investment trust has cut its management fees from 1.5% to 1.2% of net assets, after discussions with major investors.
Algorithms or active manager?

15 Nov 2011

Flicking through my copy of geek bible Wired magazine recently, my attention was drawn to an article called “The News Forecast”.
Fund managers turning to US and emerging markets

15 Nov 2011

Fund managers are turning away from eurozone woes towards US and emerging market equities, according to the latest BofA Merrill Lynch survey.
Italy borrowing costs rise as investors seek refuge

15 Nov 2011

Italian 10-year bond yields have risen above the 7% mark once more, with Spanish and French yields also rising as investors seek to reduce exposure to sovereign debt.
Inflation drops to 5% in October

15 Nov 2011

The consumer price index (CPI) annual rate of inflation dropped to 5% during October, from 5.2% in September.
Aon to move into Cheesegrater

15 Nov 2011

Aon has agreed to lease 30% of the British Land and Oxford Properties joint venture The Leadenhall Building - dubbed the Cheesegrater.
Not clear whether Europe "will do whatever it takes", says Buffett

14 Nov 2011

Investment veteran Warren Buffett says European authorities need to demonstrate that they have the “will and the ability” to solve the sovereign debt crisis.
OBSR suspends Jupiter fund rating

14 Nov 2011

Old Broad Street Research (OBSR) has suspended the Jupiter Global Managed fund ’A’ rating after it announced that John Chatfeild-Roberts would step down as lead manager.
The Share Centre reveals top consumer funds

14 Nov 2011

The Share Centre has revealed that the 10 top purchased funds for October was headed by a UK tracker fund.
Euro was a “misguided experiment”, says Bolton

14 Nov 2011

Fidelity fund manager Anthony Bolton says further political integration or a break-up of the euro is “still a few years away”.
Bolton’s China fund responds to "brutal period" for Asian markets

14 Nov 2011

Anthony Bolton’s Fidelity China Special Situations investment trust’s half-year results make for “disappointing reading”, according to John Owen, chairman of the trust.
L&G launches bid for Cofunds

14 Nov 2011

Legal & General has launched a bid to acquire Cofunds, according to reports, as it seeks to bolster its distribution capability.
Former Cofunds pair launch consumer platform

14 Nov 2011

Ex-Cofunds managing directors Andy Creak and Andrew Harris have set up rplan, an online financial planning service that will rebate at least 50% of commission back to investors.
IMA move conforms with new rules

Fund Strategy - 14 Nov 2011

The IMA is to split its Money Market fund sector in two to conform to European standards.
Midas says Charter European investors tire of "ego spat"

11 Nov 2011

Midas Investment Management says Charter European Trust investors no longer wish to be involved in an “ego spat” over which fund to roll over into as the closed-end fund winds down.
Does anybody use Money Market funds?

11 Nov 2011

The Investment Management Association (IMA) this week announced it would be introducing an additional Money Market sector, as it moves towards new definitions.
Barclays private equity arm in management buy-out

11 Nov 2011

Barclays has sold Barclays Private Equity to its management team, with the management buy-out business to be renamed Equistone Partners Europe.
We've added to Lloyds position, says Schroders' Buxton

10 Nov 2011

Richard Buxton, head of UK equities at Schroders, says he has added to his Lloyds Banking Group position in the Schroders UK Alpha Plus fund to take advantage of weakness in the current share price.
Base rate remains unchanged for 32nd consecutive month

10 Nov 2011

The Bank of England has maintained the base rate at 0.5% for the 32nd consecutive month, and maintained the asset purchase scheme at £275 billion.
Calculus Capital to launch EIS fund

10 Nov 2011

Calculus Capital has launched an enterprise initiative scheme (EIS) fund to take advantage of changes announced at the Budget earlier this year.
Schroders inflows cancelled out by outflows in third quarter

10 Nov 2011

Schroders has reported that inflows of £2.8 billion through its institutional channel were wiped out by outflows from its intermediary and private banking arms in the third quarter.
Invesco Perpetual to launch non-trail share classes

9 Nov 2011

Invesco Perpetual has announced it wil add non-trail share classes across its range of funds by mid-2012 to ensure compliance with the retail distribution review (RDR).
Man Group investment was a "big mistake", says de Blonay

9 Nov 2011

Guy de Blonay has described the investment in listed hedge fund Man Group by the Jupiter Financial Opportunities fund as a “big mistake”.
Fidelity Italy manager Chiandetti calls for end to uncertainty

9 Nov 2011

Alberto Chiandetti, portfolio manager of the Fidelity Italy fund, has called for an end to the uncertainty surrounding a weak Italian government.
Robin Hood tax is a tax on savers, says IMA

9 Nov 2011

A financial transactions tax (FTT) - a so-called Robin Hood tax - has been labelled a tax on UK savers by the Investment Management Association (IMA).
FSA hands out largest ever fine for individual

9 Nov 2011

The Financial Services Authority (FSA) has fined a Dubai-based private investor $9.6m (£6m) over manipulating the closing price of securities on the London Stock Exchange.
Italy bond yield breaches 7% threshold

9 Nov 2011

Italy looks set to be the next eurozone country to receive a bailout after five-year yields rose above the 7% threshold.
Friends Life unveils details for asset manager

9 Nov 2011

Friends Life has identified potential fee recapture of £87m with the launch of its new asset management business Friends Life Investments.
Friends Life to launch asset manager

9 Nov 2011

Friends Life is to make a return to the asset management space in the second half of next year with the launch of Friends Life Investments.
Midas defeated at Charter European vote

8 Nov 2011

Midas Investment Management has been defeated in its plans to introduce a “one share, one vote” system for the Charter European Trust.
Berlusconi wins budget vote but loses majority

8 Nov 2011

Silvio Berlusconi has won the budget vote but lost his majority in the Italian parliament, posing questions on his future as leader of Italy.
Sesame Bankhall names Higginson as chief exec

8 Nov 2011

George Higginson, chief operating officer of Sesame Bankhall, has been promoted to chief executive, while Ivan Martin will remain in place as executive chairman.
IMA to split money market sector

8 Nov 2011

The Investment Management Association (IMA) has announced that it is to create two money market sectors from next year.
Lloyds "a good buying opportunity", says Mumford

8 Nov 2011

Lloyds Banking Group could provide a buying opportunity for investors seeking a high-risk, high-reward stock, according to fund veteran Paul Mumford.
M&G reports Q3 outflows but £2.6bn sales year-to-date

8 Nov 2011

M&G Investments reported net outflows of £288m during the third quarter of 2011, blaming “increased risk aversion” by retail investors.
Is economic regime change becoming the norm?

8 Nov 2011

Over the weekend we saw one European leader fall on his sword over the sovereign debt crisis, and we could yet see another before the week is out.
Lloyds announces £3.9 billion loss for first nine months

8 Nov 2011

Lloyds Banking Group has revealed a statutory loss before tax of £3.9 billion for the nine months to September 30, including its £3.2 billion provision for payment protection insurance.
Fidelity’s Shah trust has “difficult and disappointing year”

7 Nov 2011

The chairman of Fidelity Special Values has described a “difficult and disappointing year” for the investment trust managed by Sanjeev Shah.
Close to shut fund of zeros

7 Nov 2011

Close Asset Management is to wind up its Close Reserve Equity fund, just under 10 years since launch.
Ignis changes head of multi-manager range

7 Nov 2011

Management of the Ignis Asset Management multi-manager range has passed to Michael Timmerman, managing director of the Ignis Advisors fund of funds business.
Trafalgar to launch IPO fund with Marylebone

7 Nov 2011

Trafalgar Capital Advisors is to join with Marylebone Fund Management to launch an initial public offering (IPO) fund for the small-cap market.
Franklin Templeton adds managers to Mobius funds

7 Nov 2011

Franklin Templeton has added three managers to funds currently run by emerging markets heavyweight Mark Mobius.
Gam launches Cat Bond fund for UK

7 Nov 2011

Gam has launched the Gam Star Cat Bond fund for UK investors, that will invest in insurance-linked securities.
Greek prime minister steps down for unity government

7 Nov 2011

Greek prime minister George Papandreou has stepped down to make way for a unity government of all political parties, despite winning a vote of confidence late last week.
‘Overlap’ prompts Marlborough fund mergers

Fund Strategy - 7 Nov 2011

Marlborough Fund Managers is proposing to merge two funds after the departure of Greg Bennett to Argonaut Capital Partners.
Greece's wavering leaves European debt plan wobbling

Fund Strategy - 7 Nov 2011

The eurozone was plunged into chaos last week after Greek prime minister George Papandreou announced and then cancelled a referendum on the country’s bailout package.
JP Morgan fund dropped by OBSR

4 Nov 2011

The £166.9m JP Morgan Europe fund has been removed from the fund rating service of Old Broad Street Research (OBSR), following a recent change in managers.
RBS reveals £267m third quarter profit

4 Nov 2011

Royal Bank of Scotland Group has announced a third quarter operating profit of £267m, with year-to-date profit up 15% to £2.1 billion.
Marlborough fund merger proposals after Bennett exit

3 Nov 2011

Marlborough Fund Managers is proposing to merge two funds following the departure of Greg Bennett to Argonaut Capital Partners.
ECB expects inflation to drop

3 Nov 2011

The European Central Bank (ECB) is expecting inflation to drop to less than 2% during 2012.
ECB cuts interest rates

3 Nov 2011

The European Central Bank (ECB) has cut interest rates by 25 basis points to 1.25% in the first council meeting to be chaired by new president Mario Draghi.
Would a Robin Hood tax benefit anyone?

3 Nov 2011

The issue of a Robin Hood tax has once more hit the headlines as Rowan Williams, the archbishop of Canterbury, and prime minister David Cameron both reignited the debate.
Greek political turmoil continues

3 Nov 2011

Greek prime minister George Papandreou’s tenure looks increasingly fragile as reports suggest that three MPs from the ruling party would abstain in a vote of confidence.
Skandia launches Global Futures Ucits fund

3 Nov 2011

Skandia Investment Group has launched the Ucits-compliant Skandia Global Futures fund investing in the managed futures industry.
FSA says structured product sales spikes could point to mis-selling

2 Nov 2011

The Financial Services Authority (FSA) has warned structured product providers that firms who rely on advisers to distribute products could be at an inceased risk of mis-selling.
In pictures: JP Morgan’s Neil Gregson gives the lowdown on commodities

2 Nov 2011

Neil Gregson, who is to take over management of the JP Morgan Natural Resources fund from Ian Henderson early next year, gives his views on the outlook for the commodities sector.
Weaknesses remain in structured product design, says FSA

2 Nov 2011

The Financial Services Authority (FSA) has proposed new guidance for structured product development after a review found “weaknesses” in the design process.
Tookey to take over as interim Lloyds chief

2 Nov 2011

Tim Tookey, chief financial officer of Lloyds Banking Group, is to take over as group chief executive following news that António Horta-Osório is to temporarily step down.
Lloyds boss steps down over illness

2 Nov 2011

António Horta-Osório, group chief executive of Lloyds Banking Group, is to take a temporary leave of absence in response to medical advice.
Royal London Asset Management reports new business slowdown

2 Nov 2011

Royal London Asset Management (RLAM) has reported net new business fell by two-thirds during the third quarter.
Papandreou secures backing, for now

2 Nov 2011

Greek prime minister George Papandreou has secured backing from his cabinet for a referendum on the next bail-out package.
St James’s Place reports £800m inflows

2 Nov 2011

St James’s Place has reported net inflows of £800m during the third quarter of 2011, despite funds under management shrinking by 8% to £26.7 billion.
Henderson reports outflows as AUM shrinks

2 Nov 2011

Henderson Global Investors has reported outflows across its range during the third quarter as assets under management shrank by £9 billion to £65.4 billion.
Two thirds of firms not ready for RDR

2 Nov 2011

Two thirds of asset managers are still unprepared for the retail distribution review (RDR), a poll by Bonaire Software Solutions has revealed
UBS launches Global Diversified fund

1 Nov 2011

UBS Global Asset Management has launched a multi-asset Global Diversified fund for its global investment solutions team.
Merkel, Sarkozy and troika to meet over Greece

1 Nov 2011

German leader Angela Merkel, French president Nicolas Sarkozy and the “troika” of the European Central Bank, International Monetary Fund and European Commission are to meet over Greece.
Too important to be left to the people?

1 Nov 2011

Greece, the cradle of democracy, has plunged markets into disarray after prime minister George Papandreou proposed a referendum to vote on the latest bail-out package.
UK economy “flatlining”, says Labour’s Balls

1 Nov 2011

Ed Balls, shadow chancellor for the Labour Party, has claimed the latest GDP figures for the UK economy show it has been “flatlining” for the past 12 months.
FTSE slump continues as investors shirk Europe

1 Nov 2011

The FTSE 100 index had dropped by more than 3% (at approximately 1223 GMT) after the morning trading session, slumping below the 5,400 mark.
Carmignac Gestion names UK sales director

1 Nov 2011

French asset manager Carmignac Gestion has named LV= Asset Management’s Mark Dunn as sales director in the UK.
Threadneedle announces line-up for LVAM funds

1 Nov 2011

Threadneedle Investments has announced the manager line-up for the LV= Asset Management (LVAM) funds set to be outsourced to the asset manager.
L&G reports net inflows in interim statement

1 Nov 2011

Legal & General Investment Management (LGIM) saw assets under management grow to £347 billion during the first nine months of the year.
Greece to offer voters referendum on bail-out plans

1 Nov 2011

The Greek government has thrown eurozone leaders’ plans to resolve its overwhelming public debt into disarray after prime minister George Papandreou announced a referendum would be held on the bail-out.
Rathbones reports income rise during first nine months

1 Nov 2011

Rathbone Brothers has announced a 15.5% year-on-year rise in net operating income for the first nine months of the year to £108.7m.
Horlick to launch online fund supermarket

31 Oct 2011

Nicola Horlick’s Bramdean Asset Management is set to go ahead with the launch of online fund supermarket beesandhoney.com.
Iveagh hires Skandia's Oxford

31 Oct 2011

Boutique Iveagh Private Investment House has hired Caren Oxford to take over the newly-created head of marketing role.
Jupiter to merge Europe hedge fund with Sicav

31 Oct 2011

Jupiter Asset Management is to merge its Jupiter Europa hedge fund with the Jupiter Sicav of the same name.
OBSR makes changes to funds’ ratings

31 Oct 2011

Old Broad Street Research (OBSR) has upgraded a number of funds in its latest review of ratings, removing just one from the service.
FTSE retreat blamed on "profit taking"

31 Oct 2011

The FTSE 100 has retreated, dropping nearly 100 points, as some commentators blame profit-taking for the drop off in the blue chip index.
Is Hallowe'en good for the economy?

31 Oct 2011

It’s Hallowe’en, you’ll have noticed. And despite the UK economy languishing in the economic doldrums, spending on plastic pumpkins and green Cadbury’s Crème eggs has reached record levels.
Picton drops Invista merger plans

31 Oct 2011

Picton Property Income has dropped plans for a merger with the Invista Foundation Property Trust.
Barclays sees pre-tax profit rise

31 Oct 2011

Barclays has reported pre-tax profits of more than £5 billion in its interim results for the first nine months of the year.
Industry welcomes fresh face on JPM funds

Fund Strategy - 31 Oct 2011

?Ian Henderson, a JP Morgan Asset Management chief, is to step down as manager of its giant natural resources funds.
Two thirds of firms not ready for new regime

Fund Strategy - 31 Oct 2011

Two thirds of asset managers are still unprepared for the retail distribution review (RDR), a poll by Bonaire Software Solutions has revealed
Afternoon markets: Financials retreat as FTSE 100 dips below 5,700

28 Oct 2011

FTSE 100 banking stocks retreated at the end of the day, as the blue chip index dipped below the 5,700 mark.
Invesco changes ETF policy over Italy restrictions

28 Oct 2011

Invesco’s ETF provider subsidiary Powershares has written to investors to change the policy of one of its exchange-traded fund (ETF), to remove restrictions binding it to Italian government debt.
Henderson recruits Mourinho for ad campaign

28 Oct 2011

Henderson Global Investors has recruited José Mourinho, Real Madrid football club manager, to be the face of its new advertising campaign.
Investor majority would dump IFAs who move to fees, says L&G

28 Oct 2011

A survey by Legal & General Investments (L&G) has found 65% of investors would stop using an IFA who moved to hourly fees.
Midas hits back at Charter European

27 Oct 2011

Midas Investmnet Management has hit back at the Charter European Trust after it wrote to investors calling for it to ignore pre-completed proxy forms.
Thames River to close offshore Absolute Return fund

27 Oct 2011

Thames River has announced it is to close its Irish-domiciled Absolute Return fund, after it failed to attract new inflows over the past three years.
OBSR won't change JP Morgan resources fund rating

27 Oct 2011

Old Broad Street Research (OBSR) says it will not change the rating of JP Morgan Asset Management’s onshore and offshore natural resources funds after news that Ian Henderson would step down from day-today management.
Barings poaches Aberdeen’s Mann

27 Oct 2011

Baring Asset Management has appointed Aberdeen’s Tom Mann as a manager to its international and world equities team.
Charter European to reject Midas forms

27 Oct 2011

Giles Weaver, chairman of Charter European Trust, has vowed to reject pre-completed proxy forms sent by activist investor Midas Investment Manager as relations between the two continue to sour.
European leaders reach agreement over Greece

27 Oct 2011

Eurozone leaders have reached a deal over the Greek debt crisis, which will see the private sector take a 50% cut in the value of government bonds.
Advisers voice opinions on JP Morgan Natural Resources changes

26 Oct 2011

Investment advisers have voiced their opinions on the news that Ian Henderson is to step down from day-to-day management of the JP Morgan Natural Resources fund.
Investec’s Mundy: How to avoid value traps

26 Oct 2011

Investec UK Special Situations manager Alastair Mundy gives his advice on how to avoid value traps when investing in falling stocks.
Advisers say no to synthetic ETFs for retail investors

26 Oct 2011

Almost two-thirds of Fundweb readers have said synthetic exchange-traded funds (ETFs) should not be recommended to retail investors.
Henderson steps down from JP Morgan Natural Resources

26 Oct 2011

Ian Henderson is to step down as manager of the JP Morgan Natural Resources fund, with Neil Gregson taking over full management responsibilities.
First State in Emerging Markets Bond launch

25 Oct 2011

First State Investments has launched the First State Emerging Markets Bond fund for investors in the UK and Europe.
Italian government on brink as debt problems take toll

25 Oct 2011

The Italian government is on the brink of collapse, according to reports, as prime minister Silvio Berlusconi struggles to unite his political coalition into action.
Hilarious if it wasn’t true

25 Oct 2011

The debate surrounding the eurozone sovereign debt crisis has at times been in danger of descending into farce as European leaders disagree on how best to tackle the problem.
Polar Capital to expand Ucits III range

25 Oct 2011

Polar Capital has appointed Ratio Asset Management’s Ton Tija to help expand its range of Ucits III funds.
Kames Capital hires property multi-manager team

25 Oct 2011

Kames Capital has recruited a property multi-manager team from ING Real Estate Investment Management (ING REIM).
Standard Life Higher Income loses S&P rating

25 Oct 2011

The Standard Life Higher Income fund has had its “A” rating removed by Standard & Poor’s (S&P) after “relative performance deteriorated significantly” since the end of 2008.
Kleinwort Benson appoints COO

25 Oct 2011

Kleinwort Benson has named Danny Vogt, former head of change and portfolio development group operations at Royal Bank of Scotland Group (RBS), as its chief operating officer (COO).
Ignis rebrands to reflect changes

25 Oct 2011

Ignis Asset Management has rebranded to reflect changes to the company since its current branding came into widespread use.
F&C sees AUM shrink in third quarter

25 Oct 2011

F&C Asset Management saw assets under management (AUM) shrink to £103.2 billion during the third quarter, as difficult market conditions continued to plague asset managers.
VCT providers team up for roadshow

24 Oct 2011

RAM Capital has joined up with seven venture capital trust (VCT) and enterprise investment scheme (EIS) providers for a series of adviser roadshows across the UK.
Vanguard adds to UK range with SRI funds

24 Oct 2011

Vanguard Asset Management is to market two socially responsible investing (SRI) funds in the UK after launching sterling share classes.
Massow begins trail commission marketing push

24 Oct 2011

Ivan Massow has launched the advertising campaign for paymemy.com/mission with a full-page advert in free newspaper Metro, after appearing on Channel 4’s The Secret Millionaire over the weekend.
Boutique Nettle approved for Europe micro-cap Ucits IV launch

24 Oct 2011

Nettle Capital Management, the boutique asset manager, has clinched regulatory approval to launch one of the first Ucits IV funds - the TB Nettle European Micro Cap fund.
Ex-Gartmore pair find new lead roles

Fund Strategy - 24 Oct 2011

Phil Wagstaff and Richard Pursglove, two of Gartmore’s most senior distribution staff, took leading roles at other groups last week following Gartmore’s merger with Henderson.
Marlborough revamps as co-managers leave

Fund Strategy - 24 Oct 2011

Marlborough Fund Managers switched managers on three funds last week after their two co-managers left the firm.
Axa launches Global High Income fund

21 Oct 2011

Axa Investment Managers has launched the Luxembourg-domiciled WF Framlington Global High Income fund to be managed by Anu Narula.
L&G confirms further Dart changes

21 Oct 2011

Legal & General has confirmed further proposed changes to the Diversified Absolute Return Trust, which includes an exit from the IMA Absolute Return sector.
L&G Diversified Absolute Return Trust to be renamed

21 Oct 2011

Legal & General’s Diversified Absolute Return Trust (Dart) is to be renamed as part of a series of changes proposed to the fund.
Phil Wagstaff joins Skandia Investment Group as CEO

21 Oct 2011

Phil Wagstaff, former head of global distribution for Gartmore, has joined Skandia Investment Group as chief executive.
Melchior fund dropped from Wealth 150

21 Oct 2011

Hargreaves Lansdown has dropped the Melchior Asian Opportunities fund, managed by Henrietta Luk, from its Wealth 150 buy-list.
Turner calls for "teeth" to protect investors

20 Oct 2011

The new Financial Conduct Authority will need “powers and teeth” to protect consumers and investors, according to Financial Services Authority (FSA) chairman Adair Turner.
FSA chairman says Financial Policy Committee faces Europe threat

20 Oct 2011

Financial Services Authority (FSA) chairman Adair Turner has warned that the flexibility of the Financial Policy Committee could be threatened by European regulation.
Afternoon markets: Markets continue to wait for Europe signs

20 Oct 2011

Engineer IMI was the biggest faller at the close of trading as its share price dropped 5.6% to 756.5p.
Will Qaddafi death be good for oil prices?

20 Oct 2011

With the death of Libyan dictator Muammar Qaddafi and the capture of Sirte, the civil war affecting the North African country is surely beginning to wind down.
FundsNetwork rolls out portfolio management service

20 Oct 2011

Fidelity FundsNetwork has launched a model portfolio centre and rebalancing service, allowing advisers to create portfolios of up to 30 funds.
Henderson to soft close UK Absolute Return funds

20 Oct 2011

Henderson Global Investors is to soft close the Henderson UK Absolute Return Oeic and Henderson Gartmore UK Absolute Return Sicav.
Government steering group to look at simple financial products

20 Oct 2011

Financial secretary to the Treasury Mark Hoban has set up a steering group to investigate the creation of a suite of “simple” financial products.
BlackRock confirms UK Focus launch

20 Oct 2011

Asset manager BlackRock has confirmed the retail launch of the BlackRock UK Focus fund to be co-managed by Luke Chappell and Imran Sattar.
Double dip to be avoided, say discretionary managers

20 Oct 2011

Almost two-thirds of discretionary managers believe the UK will avoid a “double dip” recession, according to a poll by asset manager Schroders.
Banco Santander downgraded by Moody’s

20 Oct 2011

Rating agency Moody’s has downgraded the long-term senior debt and deposit ratings of Banco Santander along with several other Spanish banks after cutting Spain’s bond ratings.
Nutt funds downgraded by Bestinvest

19 Oct 2011

Bestinvest has downgraded the Jupiter Income and High Income funds managed by head of income and UK equities Tony Nutt.
Second manager departs Marlborough

19 Oct 2011

Marlborough Fund Managers has parted ways with fund manager Daniel Rowland, which will see his reponsibilities dropped on the Marlborough Income & Growth fund.
Duo replace Bennett on UK equity income fund

19 Oct 2011

Geoff Hitchin and Nicholas Cooling have replaced Greg Bennett on the Marlborough UK Equity Income fund, following his departure to Argonaut Capital Partners.
Greek default expected by investors, finds BofA ML

19 Oct 2011

More than 80% of investors are expecting a Greek default, the majority of whom expect it to happen by the first quarter of 2012, according to the Bank of America Merrill Lynch (BofA ML) Global Research report.
Platform market to shrink, adviser poll shows

19 Oct 2011

A majority of advisers believe the UK platform market will shrink within the next five years, according to a poll by Schroders.
S&P puts BlackRock bond fund under review

19 Oct 2011

Standard & Poor’s has placed the AA rating of the BlackRock Corporate Bond fund under review following the departure of Paul Shuttleworth.
QE will not be used for corporate debt, says Bank governor

19 Oct 2011

The Bank of England will not extend its quantitative easing programme to corporate debt, says governor Mervyn King.
Inflation ‘at or near peak’, says King

19 Oct 2011

Bank of England governor Mervyn King says inflation is “at, or close to” its peak after the consumer prices index rate of inflation leapt to 5.2% during September.
Close adds two multi-manager fund ranges

18 Oct 2011

Close Asset Management has expanded its fund offering with the launch of two new multi-manager fund ranges, investing in passive and active funds.
Tory peer Howard Flight joins Edge VCT

18 Oct 2011

Conservative peer Howard Flight has joined Edge Performance venture capital trust (VCT) as a non-executive director.
Baillie Gifford cuts initial charge on Global Income fund

18 Oct 2011

Baillie Gifford is to cut the initial charge on its Global Income fund for a six month period from November 1.
Fundweb poll shows most believe no eurozone solution in sight

18 Oct 2011

Fundweb’s latest poll has revealed just under three-quarters of advisers do not believe a solution to the eurozone crisis will be decided by the end of the month.
VAM Funds launches International ex-USA Growth fund

18 Oct 2011

VAM Funds has launched its International ex-USA Growth offshore fund to the retail market, following demand from distributors.
Ecclesiastical says ethical choice not offered by IFAs

17 Oct 2011

More than three-quarters of respondents to a survey by Ecclesiastical Investment Management claim they have never had an ethical choice from an IFA.
Midas responds to Charter European board

17 Oct 2011

Midas Investment Management has responded to claims made by the board of the Charter European Trust in what it described as a “lengthy announcement”.
First State expands EM debt team

17 Oct 2011

First State Investments has appointed three investment specialists to its emerging markets debt team.
Barings names Burns as COO

17 Oct 2011

Baring Asset Management has named John Burns as its chief operating officer (COO), taking over from incumbent John Misselbrook who will retire at the end of the year.
Iona launches renewable energy VCT

17 Oct 2011

Renewable energy investment specialist Iona Capital is to launch its £10m Environmental venture capital trust (VCT) to fund waste-to-energy projects.
MAM Funds adds investment analyst

17 Oct 2011

MAM Funds has named Tom Delic as an investment analyst to its Liverpool office.
Gartmore’s Pursglove joins Goldman Sachs

17 Oct 2011

Richard Pursglove, formerly head of UK retail at Gartmore, has joined Goldman Sachs Asset Management to head its UK third party distribution business.
Contrarian stance affects Schroder Income fund, says Hargreaves Lansdown

14 Oct 2011

Schroder Income fund managers Nick Kirrage and Kevin Murphy’s investment approach has led to underperformance, according to Hargreaves Lansdown.
Charter European urges 'no' to Midas

14 Oct 2011

Directors of the Charter European investment trust have urged investors to vote against a resolution put forward by Midas Investment Management as fresh details emerged.
Goldman Sachs to wind-up closed-end fund

14 Oct 2011

Goldman Sachs is proposing to wind up its closed-end fund of hedge funds Dynamic Opportunities after consulting with investors.
Hermes calls for end to Murdoch influence at News Corp

14 Oct 2011

Hermes Equity Ownership Services says it will withhold support for Rupert Murdoch and sons James and Lachlan Murdoch ahead of voting at the company’s shareholder meeting.
Jupiter sees assets under management shrink by 10%

14 Oct 2011

Jupiter Fund Management has seen its assets under management shrink by £2.8 billion in the three months to September 30.
Bank downgrades a "good thing", says Cavendish's Mumford

13 Oct 2011

Cavendish Asset Management’s Paul Mumford says the downgrade of Lloyds Banking Group and Royal Bank of Scotland by Fitch has ruled out any doubts about rating agencies intentions towards banks.
Hargreaves Lansdown still a 'hold', says Charles Stanley

13 Oct 2011

Hargreaves Lansdown remains a ’hold’ stock for Charles Stanley analyst Nic Clarke, after the company reported assets under administration had fallen during its first quarter.
FSA says putting off adviser charging changes is ‘huge risk’

13 Oct 2011

The Financial Services Authority has warned advisers that delaying changes to charging models ahead of the retail distribution review (RDR) implementation could be a “huge risk”.
Fitch downgrades Lloyds and RBS

13 Oct 2011

Fitch Ratings has downgraded Lloyds Banking Group and Royal Bank of Scotland to “A” after revising its support rating floors for “systemically important UK banks”.
Old Mutual chairman appointed to government Shareholder Executive

13 Oct 2011

Patrick O’Sullivan, Old Mutual’s chairman, is set to chair the government’s Shareholder Executive, which is responsible for shareholder relationships with government-owned businesses.
Departure of New City's Roberts means changes

13 Oct 2011

New City Energy and City Natural Resources High Yield Trust have made changes to their investment management line up following the departure of Merfyn Roberts.
MAM Funds to launch open-ended fund for Williams

13 Oct 2011

MAM Funds is to launch an open-ended version of its Diverse Income Trust for managing director Gervais Williams at the end of the week.
FTSE drop hits Hargreaves Lansdown’s Vantage assets

13 Oct 2011

Hargreaves Lansdown has reported a 10% drop in assets under administration on its Vantage platform following stock market falls in the three months to September 30.
Prudential supervision role not understood, says Bailey

12 Oct 2011

Andrew Bailey, the deputy chief executive of the Prudential Regulation Authority, says a lack of definition means the proposed regulator has yet to understand its role.
What next for Wall Street?

12 Oct 2011

The recent protests taking place on Wall Street have brought stateside some of the scenes already seen in countries throughout Europe.
Standard Life fund downgraded by S&P

12 Oct 2011

The Standard Life Investments UK Opportunities fund has had its AA-rating downgraded by Standard & Poor’s.
HMRC clarifies RDR position for ISAs

12 Oct 2011

HM Revenue & Customs (HMRC) has clarified its position on commission rebates into individual savings accounts (ISAs) in its latest update.
Anand departure "a blow for F&C", says Winterflood

11 Oct 2011

The departure of Paras Anand from F&C Asset Management to Fidelity has been described as a “blow” to the company by analysts at Winterflood Investment Trusts.
Jupiter fund removed from Bestinvest buy-list

11 Oct 2011

Bestinvest has removed the Jupiter International Financials fund from its Premier Selection following news that manager Philip Gibbs is to step down from the fund.
FundsNetwork launches discretionary service

11 Oct 2011

Fidelity FundsNetwork has launched a third party discretionary management service for advisers in partnership with Vestra Wealth.
Advisers believe FTSE will close above 5,000 this year

11 Oct 2011

More than three-quarters of Fundweb.co.uk readers believe the FTSE 100 index will finish above 5,000 at the end of the year.
Carmignac appoints country head ahead of UK launch

10 Oct 2011

Carmignac Gestion has hired Matthew Wright as head of country for the UK, ahead of the opening of its London office next month.
New fund platform launches

10 Oct 2011

JPJShare.com has launched a direct-to-consumer fund platform for investors, aiming to take on other providers in the competitive sector.
Threadneedle chairman to retire

10 Oct 2011

Simon Davies, Threadneedle Investments’ executive chairman, is to retire in June 2012.
F&C makes emerging market debt hire

29 Sep 2011

F&C Investments has bolstered its emerging market debt team with the hire of Peter Svoboda as a product specialist.
Fidelity to launch global income fund for Roberts

28 Sep 2011

Fidelity has confirmed plans to launch a global equity income fund for Dan Roberts, following his shock departure from Eden.
Charter European to liquidate

28 Sep 2011

Charter European Trust has put forward proposals to liquidate the investment trust after rejecting proposals by activist investor Midas Investment Management.
Loophole closed for solar VCTs

28 Sep 2011

The Department of Energy & Climate Change has closed a loophole allowing companies to continue constructing large scale solar projects under higher feed-in tarriffs (FiTs).
Artemis to launch European Opportunities fund

28 Sep 2011

Artemis Investment Management is to launch a European Opportunities fund for managers Mark Page and Laurent Millet next month.
MAM grows funds under management

28 Sep 2011

MAM Funds grew its funds under management by 9% during the first half of the year to £1.68 billion.
Kleinwort Benson appoints chief investment officer

28 Sep 2011

Kleinwort Benson has named Mouhammed Choukeir as chief investment officer, taking over from Jeremy Beckwith.
Man Group slides following outflows

28 Sep 2011

Listed hedge fund Man Group reported outflows of $2.6 billion (£1.7 billion) during the second quarter of its financial year, according to its pre-close trading update.
Liontrust says stock market contributed to AUM fall

28 Sep 2011

Liontrust Asset Management has claimed market movements contributed to a 6.1% fall in assets under management (AUM) during the company’s first half.
US income theme growing, says Legg Mason

28 Sep 2011

Cash-rich companies with a greater inclination to pay dividends will spur the growth of the US equity income sector, says Peter Vanderlee, Legg Mason fund manager.
Sack Ed Balls, Terry Smith tells Miliband

27 Sep 2011

City veteran Terry Smith has called on Labour party leader Ed Miliband to sack his shadow chancellor Ed Balls and to reject the unions.
"I dream of a recession"

27 Sep 2011

“Independent trader” Alessio Rastani has become an internet phenomenon after declaring on live TV that “Goldman Sachs rules the world”.
Hargreaves removes City Financial fund from Wealth 150

27 Sep 2011

Hargreaves Lansdown has removed the City Financial Strategic Gilt fund from its Wealth 150 buy list.
Value & Income trust splits management contract

27 Sep 2011

The board of the Value & Income trust has agreed to split its investment management contract into two separate equities and property mandates.
Warren Buffett launches Berkshire share buy-back

27 Sep 2011

Billionaire investor Warren Buffett has launched a share buy-back for investment vehicle Berkshire Hathaway.
Gold price under dual pressures, says City Index

26 Sep 2011

Precious metals and copper prices dropped on Monday, as investors sought to liquidate positions in the continuing market turmoil.
Keep on tracking?

26 Sep 2011

At a recent event put on by one of the growing number of Wrap providers, I got chatting to one of their guys who remarked that tracker funds were among the most popular on the platform.
Charter European to hold EGM

26 Sep 2011

The board of the Charter European investment trust has announced it will hold an extraordinary general meeting (EGM) after a requisition request from Midas Investment Management.
Castlestone confirms UK closure

26 Sep 2011

Castlestone Management has confirmed that it is to wind down its UK operations, after announcing the closure of its Dublin-domiciled fund range earlier this year.
Brown Shipley in Scottish acquisition

26 Sep 2011

Brown Shipley, the private bank, has acquired the investment management arm of Edinburgh-based law firm Gillespie Macandrew.
ETF consolidation launch for iShares founder

26 Sep 2011

Lee Kranefuss, former founder of iShares, has launched a new exchange-traded fund consolidation business alongside Rory Tobin, ex-international chief executive of iShares’.
Vanguard beefs up UK team

26 Sep 2011

Vanguard Group is building its London team in a move that could potentially lead to launches for the passive fund giant.
UBS chief steps down after rogue trading scandal

26 Sep 2011

Oswald Grübel has resigned as group chief executive of UBS in the wake of the rogue trading scandal that has rocked the bank.
American giant beefs up UK team

Fund Strategy - 26 Sep 2011

Vanguard Group is building its London team in a move that could potentially lead to launches for the passive fund giant.
FSA asks joint committee to "resist" industry pressure

23 Sep 2011

The Financial Services Authority (FSA) has asked the joint committee on the draft financial services bill to “resist” the industry on curtailing regulatory powers.
NVM Private Equity plans £15m fundraising for VCT

23 Sep 2011

NVM Private Equity has announced it will be launching a £15m public share offer for the Northern 2 venture capital trust (VCT).
FTSE dips below 5,000

23 Sep 2011

The FTSE 100 index has dipped below the 5,000 mark as markets fail to be buoyed by backing for the banking system and financial markets from the G20.
Trade forecast cut by World Trade Organisation

23 Sep 2011

The World Trade Organisation (WTO) has cut its 2011 trade forecast to 5.8% from an earlier “conservative” forecast of 6.5% as the economic outlook remains uncertain.
Fed can’t bail out markets, says Fidelity’s Rossi

23 Sep 2011

The Federal Reserve will not be able to bail out equity markets nor will rate cuts by the European Central Bank impact markets, according to Fidelity’s Dominic Rossi.
Nothing has changed in eurozone, says Newton's Brain

22 Sep 2011

Newton Investment Management’s Paul Brian says Greece should default on its debts and exit the euro, but warns of the potential ramifications.
Stadia Trustees launches SippWise

22 Sep 2011

Self-invested personal pension (Sipp) provider Stadia Trustees has launched investment directory SippWise.
Federal Reserve launches $400bn "Operation Twist"

22 Sep 2011

The Federal Reserve has announced it will buy back long-dated US treasuries in a $400 billion initiative dubbed “Operation Twist”.
Legal & General chief to retire in 2012

22 Sep 2011

Tim Breedon, Legal & General group’s chief executive, is to retire at the end of 2012, it has been revealed.
AllianceBernstein hires Schroders' fixed income product head

21 Sep 2011

AllianceBernstein has hired Jeremy Cunningham, Schroders’ former global fixed income product head, as a senior portfolio manager.
BlackRock launches offshore EM equity income fund

21 Sep 2011

BlackRock has launched an emerging markets equity income fund within its Luxembourg Sicav range.
Midas calls for action on "unfair voting arrangements" at Charter European Trust

21 Sep 2011

Midas Investment Management has called on the board of Charter European Trust to remove what it calls an “unfair voting” scheme for investors.
Afternoon markets: Hargreaves Lansdown rises to the top

20 Sep 2011

Hargreaves Lansdown was the biggest riser late on Tuesday as the FTSE 100 index rallied during the afternoon.
BlackRock's Thiel to co-manage Global Bond fund

20 Sep 2011

BlackRock has added Scott Thiel to its Global Bond fund ahead of current co-manager Andrew Gordon’s retirement at the end of the year.
Eden Financial hires from Aberdeen

20 Sep 2011

Eden Financial has hired Ky Van Tang from Aberdeen Asset Management as a credit analyst.
Bestinvest downgrades “Spot the Dog” fund

20 Sep 2011

Bestinvest has downgraded the Henderson Asian Dividend fund to a three-star rating, after it appeared in its annual “Spot the Dog” fund survey.
Fidelity snaps up Anand

20 Sep 2011

Fidelity Worldwide Investment has snapped up F&C fund manager Paras Anand as its head of pan-European equities.
Iveagh adds to investment team

20 Sep 2011

Iveagh Private Investment House has recruited William Beverley as its head of macroeconomic research.
Morning markets: Mixed start after Italy downgrade

20 Sep 2011

The Italian downgrade seemed to have a mixed impact at the start of trading on the FTSE 100 index, with no big moves either way.
Anand to leave F&C

20 Sep 2011

Paras Anand, F&C Investments’ head of Continental European and Pan European equities teams, is to leave the company.
Italy downgraded by S&P

20 Sep 2011

Italy has had its sovereign debt rating downgraded by Standard & Poor’s after voicing concerns about its “weakening economic growth prospects”.
Afternoon markets: Miners replace banks at bottom of the index

19 Sep 2011

Mining stocks rested at the foot of the index at the close of trading after overtaking the banking sector, which has led the FTSE 100 lower than at market open.
First State confirms EM bond launch plans

19 Sep 2011

Asset manager First State has confirmed plans for an emerging market bond fund launch for its London-based fledgling emerging markets debt team.
St James’s Place renames Cash fund

19 Sep 2011

St James’s Place has renamed its £17m Cash fund to Money Market fund after receiving guidance from the Financial Services Authority (FSA).
iShares expands commodities range

19 Sep 2011

Exchange traded fund (ETF) provider iShares has added to its range of index tracking products with three commodities launches.
Matrix appoints head of product & marketing

19 Sep 2011

Matrix Asset Management has named Rebecca Ledlie as its head of product & marketing.
Morning markets: Banks slide in early FTSE trading

19 Sep 2011

Banks were the biggest fallers in early trading on the FTSE 100 index, as Eurozone sovereign debt concerns continued to worry investors.
Pimco launches Advantage Real Return fund

19 Sep 2011

Asset manager Pimco has added to its product range with the GIS Global Advantage Real Return fund.
Santander adds to multi-manager team

19 Sep 2011

Santander Asset Management has added to its multi-manager team with the appointment of Renzo Desbordes and Helen Llorente.
Scottish Widows' Leitch set to leave Lloyds

19 Sep 2011

There have been two key departures from the board of Lloyds Banking Group, including Scottish Widows chairman Sandy Leitch.
UBS reveals further rogue trader details

19 Sep 2011

Swiss bank UBS has revealed further details of the unauthorised trading loss announced last week, with the total loss rising to $2.3 billion (£1.5 billion).
France given a safety net by central banks

Fund Strategy - 19 Sep 2011

The French banking system was shored up last week as an international agreement by five central banks across resulted in a guarantee of liquidity.
Rogue trade throws spotlight on ETFs

Fund Strategy - 19 Sep 2011

The spotlight has been thrown on exchange traded funds (ETFs) again by last week’s admission from UBS that a rogue trader had lost the company £1.3 billion.
Afternoon markets: Inmarsat sky high at trading close

16 Sep 2011

Satellite communications company Inmarsat was the biggest climber at the close of trading on Friday, as the FTSE 100 index sailed closer to the 5,400 mark.
UBS rogue trader charged by police

16 Sep 2011

The man at the centre of the £1.3 billion loss caused by unauthorised trading has been charged by the City of London Police.
ETF risks “indisputable”, says Terry Smith

16 Sep 2011

City veteran Terry Smith says news of the £1.3 billion loss at UBS, which resulted in the arrest of a trader, means risks with exchange traded funds (ETFs) should be regarded as ‘indisputable’.
Yorkshire BS boss joins St James's Place as non-exec

16 Sep 2011

Iain Cornish, the chief executive of Yorkshire Building Society, is to join St James’s Place as an independent non-executive director on October 1.
Moody's puts UBS on downgrade review

16 Sep 2011

Ratings agency Moody’s has put Swiss bank on review for a possible downgrade following news of a £1.3 billion loss caused by a rogue trader.
iShares makes changes to reduce tracking error

16 Sep 2011

Exchange traded fund (ETF) provider iShares has made changes to the benchmarks of a number of its products in a move to reduce tracking error.
Morning markets: Banks lead the FTSE 100 in early trading

16 Sep 2011

The banking sector rose strongly in early trading, with British banks leading the way in the FTSE 100 index.
Global economy in “dangerous new phase”, says Lagarde

16 Sep 2011

The global economy has entered “a dangerous new phase of the crisis” with a need for collective resolve to restore confidence, says Christine Lagarde, head of the International Monetary Fund (IMF).
Afternoon markets: Lloyds rises to the top

15 Sep 2011

Lloyds Banking Group was the strongest riser at the close of trading, up 7.2% to 35.91p, as European markets calmed.
Dollar liquidity "not enough", says Greetham

15 Sep 2011

Fidelity Worldwide Investment portfolio manager Trevor Greetham says joint action by central banks to provide US dollar liquidity is not enough to spur a bull market.
F&C Commercial Property Trust delves into student lodgings

15 Sep 2011

The F&C Commercial Property Trust has delved into the student accommodation market, with an investment in a Winchester University development.
Former New Star CIO launches advisory business

15 Sep 2011

Alan Miller, the former chief investment officer of New Star, has launched an advisory offshoot of its wealth management business SCM Private.
Octopus Investments in £40m VCT subscription offer

15 Sep 2011

Octopus Investments has launched a £40m joint subscription offer for two of its venture capital trusts (VCTs).
Kay Review makes equity markets evidence call

15 Sep 2011

The Kay Review has published a call for evidence ahead of its review of UK equity markets.
Rockingham Independent fined £35,000 by FSA

15 Sep 2011

Rockingham Independent has been fined £35,000 by the Financial Services Authority (FSA) for selling investment products it “did not fully understand”.
Morning markets: Kingfisher boosted by results

15 Sep 2011

B&Q owner Kingfisher was the FTSE 100’s strongest riser in early trading, after announcing a rise in pre-tax profits during the first half of 2011.
Administrator of structured product provider granted extension

15 Sep 2011

The administrator of structured product provider NDF Administration has been granted a one-year extension by courts to continue running the company.
Afternoon markets: FTSE 100 closes above 5,200

14 Sep 2011

The FTSE 100 index climbed above 5,200 late on Wednesday, led by a strong showing from fashion retailer Next.
Global emerging markets “changed beyond recognition”, says First State

14 Sep 2011

The development of global emerging markets economies during the past decade has changed them beyond recognition, according to First State.
Smaller companies investment trusts outperform, says AIC

14 Sep 2011

The Association of Investment Companies (AIC) says UK small companies investment trusts have outperformed in the year to August 31.
IMA calls for “proportionality” over European directive

14 Sep 2011

The Investment Management Association (IMA) has called on European authorities to heed proportionality in their treatment of alternative investment funds.
Investec fund removed from Wealth 150

14 Sep 2011

The Investec Enhanced Natural Resources fund has been removed from the Hargreaves Lansdown Wealth 150 fund buy-list following concerns over its performance fee.
Fund of hedge funds Altin decides against open-ended move

14 Sep 2011

The directors of Switzerland-based closed-end fund of hedge funds Altin have decided not to propose the company is turned into an open-ended vehicle.
Gold is alternative to currencies in market downturn, says Hambro

14 Sep 2011

Gold has replaced currency markets as a “safety” asset class during market downturns, says Evy Hambro, the manager of the BlackRock Gold & General fund.
iShares expands bond ETF range

14 Sep 2011

BlackRock’s exchange traded fund (ETF) provider iShares has expanded its range of fixed income with two further products.
More than a third of Britons never change risk profile, says Barings

14 Sep 2011

A survey by Baring Asset Management has revealed that 18.5m Britons have never made a change to the risk profile of their investment portfolio.
Morning markets: Next on the rise

14 Sep 2011

Fashion retailer Next was the biggest riser in early trading (at 0834 BST) buoyed by bullish half year results as the FTSE 100 climbed higher.
RCM recruits ex-Gartmore head of investment trusts

13 Sep 2011

RCM has hired Melissa Gallagher, the former head of investment trusts at Gartmore, as Simon White’s (pictured) replacement, following his departure to BlackRock.
Afternoon update: Banks rally at market close

13 Sep 2011

UK banks were the biggest risers in the FTSE 100 index at the close of trading, as the sector rallied after an uncertain start to the week with the Vickers report.
Convertible bond sell-off “unlikely”, says RWC

13 Sep 2011

A sell-off of convertible bonds is doubtful, despite current levels of uncertainty, according to David Basile, who manages the RWC Global Convertibles fund at RWC Partners.
French banks take a battering

13 Sep 2011

French banks are facing renewed pressure as concerns over their financial positions continue to dog the sector.
FundsNetwork announces training workshops

13 Sep 2011

Fidelity FundsNetwork has announced a series of training workshops for advisers.
Swiss franc is the new deutschemark, says Ignis

13 Sep 2011

The Swiss franc will remain one of the most desirable currencies in Europe, says Stuart Thomson, the chief economist at Ignis, describing it as the “new deutschemark”.
UBS expands fixed income teams

13 Sep 2011

UBS Global Asset Management has made a number of appointments to its global and UK fixed income teams.
Industry facing distribution pressures, says FundAssist

13 Sep 2011

The asset management industry is facing “severe” distribution challenges thanks to Ucits IV regulations, according to Jim O’Reilly, the managing director at FundAssist.
Morning markets: Cairn slumps as FTSE falls

13 Sep 2011

Cairn Energy was the heaviest faller in early morning trading, as the FTSE 100 dipped below the 5,100 mark.
“In the midst of bear market in confidence”, says Doll

13 Sep 2011

Bob Doll, the chief equity strategist at BlackRock, says investors should look for signs of improving market conditions during the current “bear market in confidence”.
Lombard Odier hires BlackRock’s Chew

13 Sep 2011

Lombard Odier Investment Managers has named former BlackRock Solutions managing director Philip Chew as head of risk, operations and IT.
FundsNetwork names head of key accounts

12 Sep 2011

Fidelity FundsNetwork has named Stephen Boucher as its head of key accounts.
Afternoon markets: Winners and losers at trading close

12 Sep 2011

Different FTSE 100 companies had a mixed close to trading, as the blue chip index closed more than 70 points lower, resting just above 5,100.
Origo Partners launches Mongolia fund

12 Sep 2011

Origo Partners has launched the Mongolian Stock Exchange (MSE) Liquidity fund, which will invest in a portfolio of Mongolian equities.
Gam confirms credit launch

12 Sep 2011

Asset manager Gam has confirmed the launch of the Gam Star Corporate Credit Opportunities fund, which will invest in undervalued corporate bonds.
Slater Investments to launch mid-cap income fund

12 Sep 2011

Slater Investments is to launch the MFM Slater Income fund on September 19, investing in a portfolio of companies based outside the FTSE 100.
Swip adds to UK equities team

12 Sep 2011

Scottish Widows Investment Partnership (Swip) has appointed Andrew Paisley as investment director of UK equities.
Hargreaves Lansdown adds S&W gold fund to Wealth 150

12 Sep 2011

Hargreaves Lansdown has added the Smith & Williamson (S&W) Global Gold & Resources fund to the Wealth 150 fund buy-list.
Kames Capital to launch Absolute Return Bond fund

12 Sep 2011

Kames Capital is to launch its first fund under new branding with the Absolute Return Bond fund.
IMA opens membership to foreign firms

12 Sep 2011

The Investment Management Association (IMA) is to open up membership to non-UK companies from 2012.
Fidelity brings two funds onshore

12 Sep 2011

Fidelity Worldwide Investment has brought its Global Real Asset Securities and China Consumer funds onshore.
Fidelity undergoes another rebrand

12 Sep 2011

Fidelity International has rebranded for the second time in the space of a year, as Fidelity Worldwide Investment.
Morning markets: FTSE 100 drops in early trading

12 Sep 2011

Global satellite communications company Inmarsat was the lone riser in morning trading, as the FTSE 100 faltered after the weekend.
Eden unveils details of ‘vanilla’ fund

12 Sep 2011

Dan Roberts, a former Gartmore manager, has unveiled details for his global equity income launch at Eden Financial, due later this year.
RCM's White joins BlackRock as head of investment trusts

12 Sep 2011

RCM’s head of investment trusts Simon White has joined BlackRock in the same position, after more than two decades with the company.
BNY Mellon move surprises industry

Fund Strategy - 12 Sep 2011

The decision by BNY Mellon Asset Management to cut the dividend yield on the Newton Higher Income fund by up to 25% caught the industry unawares last week.
Eden unveils detail of ‘vanilla’ fund

Fund Strategy - 12 Sep 2011

Dan Roberts, a former Gartmore manager, has unveiled details for his global equity income launch at Eden Financial, due later this year.
Equity funds suffer in July as confidence falls

Fund Strategy - 12 Sep 2011

Equity funds experienced net outflows in July for the first time since February 2009 as market volatility shook investor confidence.
Schroders plans to launch fund of maximisers

Fund Strategy - 12 Sep 2011

?Schroders has confirmed it is considering the launch of a fund of funds based on its Income Maximiser range.
Small-cap guru harvests income from blue chips

Fund Strategy - 12 Sep 2011

?Bill Mott, a manager at PSigma, sees more investment opportunities in higher yielding blue chip stocks rather than in his usual smaller cap hunting ground.
Trusts are casualty of latest FTSE reshuffle

Fund Strategy - 12 Sep 2011

The last investment trust has left the blue chip index in the latest FTSE 100 reshuffle as 3i Group, a private equity investor, was relegated to the FTSE 250.
Afternoon markets: Tullow Oil soars to top of FTSE 100

9 Sep 2011

Tullow Oil was the biggest riser in the FTSE 100 at the close of trading after earlier announcing a major oil discovery off the coast of French Guiana.
Midas intentions for Charter European “unclear”, says Winterflood

9 Sep 2011

The “unclear” intentions of activist investor Midas Investment Management could put the Charter European investment trust into doubt, according to Winterflood Investment Trusts.
Let Greece go, says Newton’s Brain

9 Sep 2011

Paul Brain, the manager of the £704.9m Newton International Bond fund, says Greece’s departure from the euro is inevitable with just the timing still to be decided.
Financial Services bill needs resolving, says IMA

9 Sep 2011

The Investment Management Association (IMA) has called for “serious work” to be done on the new Financial Services bill.
Spreadbury and Jupiter Merlin team crowned by OBSR

9 Sep 2011

Old Broad Street Research (OBSR) has named Fidelity International’s Ian Spreadbury and Jupiter’s Merlin team as the “Outstanding Fund Managers of the year”.
Morning markets: Admiral falls on MOJ ruling

9 Sep 2011

Insurance group Admiral was the biggest faller in early trading as the Ministry of Justice (MOJ) announced a proposed ban on referral fees in personal injury cases.
Pimco bolsters global equities team

9 Sep 2011

Asset manager Pimco has promoted Neel Kashkari to head of global equities, as the firm names a number of senior hires.
Woolnough ups high yield exposure to career high

8 Sep 2011

Richard Woolnough has upped high yield exposure in the M&G Corporate, Optimal Income and Strategic Corporate funds to his highest ever levels.
Mott looks to large caps for income

8 Sep 2011

Veteran investor Bill Mott is seeing opportunities in higher yielding blue chip stocks rather than in his traditionally smaller cap hunting ground.
Schroders confirms fund of Income Maximisers interest

8 Sep 2011

Schroders has confirmed that it is considering the launch of a fund of funds based on its Income Maximiser range.
European Central Bank holds rates

8 Sep 2011

The European Central Bank (ECB) has maintained interest rates at 1.5%, opting not to raise them further following the recent rise in July.
Ironshore Group launches traded life settlement fund

8 Sep 2011

Specialist investment manager Ironshore Group has launched a traded life settlement product named the Life Fund of UK and international investors.
Bank holds base rate again

8 Sep 2011

The Bank of England has held the base rate at 0.5% for the thirtieth month in a row at today’s Monetary Policy Committee (MPC) meeting.
Fidelity Shah’s investment trust to be relegated from FTSE 250

8 Sep 2011

Sanjeev Shah’s Fidelity Special Values investment trust is to be relegated from the FTSE 250 in the latest review of the FTSE indices.
Newton Higher Income changes split opinion

8 Sep 2011

Changes to the Newton Higher Income fund, including a 25% dividend yield cut, have received a mixed reception from the industry.
Pacific Horizon board urges trust extension

7 Sep 2011

The board of the Pacific Horizon investment trust has called on investors to vote in favour of extending the life of the closed-end fund at its November annual general meeting.
Sanlam names Cowen as senior investment manager

7 Sep 2011

Principal Investment Management division Sanlam Fund Solutions has appointed Barry Cowen to lead the investment management and development of its UK retail investment product range.
Ignis fund cut from Hargreaves Lansdown Wealth 150

7 Sep 2011

Hargreaves Lansdown has removed the Cartesian enhanced alpha fund from its fund buy-list, the Wealth 150, after concerns over Ignis’ commitment to the joint venture.
Threadneedle ‘of the view’ Greece will leave euro

7 Sep 2011

Threadneedle chief investment officer Mark Burgess says the asset manager says it is “increasingly of the view” that troubled Greece will leave the euro.
First State to close Global Growth fund

7 Sep 2011

First State has confirmed that it is to close its £4.8m Global Growth fund from the end of October.
HSBC launches Emerging Markets ETF

7 Sep 2011

HSBC has launched an Emerging Markets exchange-traded fund (ETF) onto the London Stock Exchange.
Di Bon adds to Alliance Trust team with Schroders hire

6 Sep 2011

Alliance Trust Asset Management has appointed former Schroders manager Juergen Lanzer as a portfolio manager on its global equities desk.
Pimco given greater independence in Allianz restructure

6 Sep 2011

Pimco and Allianz Global Investors are to be united under a single division to be named Allianz Asset Management division from next year.
OECD reports flat inflation in July

6 Sep 2011

The Organisation for Economic Cooperation and Development (OECD) has revealed its annual consumer price index (CPI) inflation rate remained stable during July.
OBSR dumps Threadneedle fund

6 Sep 2011

Fund rating agency Old Broad Street Research (OBSR) has dropped the Threadneedle Global Bond fund from its service.

FundwebRob Langston Editorial, Fundweb.co.uk

Fundweb
Rob Langston Editorial, Fundweb.co.uk