Randeep Somel has revealed his plan to steer the M&G Global Basics fund back to the top of the performance tables, telling investors "no-one else does this kind of portfolio".

Hargreaves Lansdown chief executive Ian Gorham has sold 715,000 shares in the FTSE 100-listed company for a total of over £8.4m.

M&G Global Basics fund manager Graham French is to leave the group, Investment Week can reveal, as he retires from fund management after a 25-year career.

Canada Life Investments has merged away Canlife General and Canlife Growth - two of the country's longest-running unit trusts - as it restructures its fund range as part of a push into the UK market.

Aberdeen CEO Martin Gilbert has said Lloyds Banking Group's plan to boost its wealth management capabilities is a crucial factor in the fund manager's deal to buy SWIP, but refused to be drawn on possible job cuts.

Aberdeen has beaten off competition from Macquarie to acquire Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group in a deal worth up to £650m.

The Bank of England has sharply revised its unemployment forecasts but emphasised this does not mean it is guaranteed to hike rates once the 7% threshold is reached.

Bedlam Asset Management has begun liquidating its fund range and winding down its business on concerns that it may be about to lose the bulk of its assets.

Liontrust has reported a 326% increase in adjusted pre-tax profit for the six months to 30 September and reintroduced an interim dividend.

Jupiter chief executive Edward Bonham Carter is to join the board of Land Securities as a non-executive director next year.