Fixed income boutique MacKay Shields has hired Matthew Nagele, previously at Janus Capital Group, as head of distribution for UK and EMEA.

Cofunds has scrapped its annual £40 fixed platform charge for clients using its explicit pricing model, following its takeover by Legal & General.

Allfunds Bank has poached another Cofunds director, Bradley Lewis, to spearhead its expansion into the UK market.

Christine Lagarde, managing director of the International Monetary Fund (IMF), has warned failure to raise the debt ceiling could be far worse than the current US government shutdown.

David Jane has ramped up Japanese equity and REIT exposure in the TM Darwin Multi Asset fund, following the sell-off in May.

Rathbones Unit Trust Management has selected five US equity funds that can add value at a time when many managers are struggling to outperform the S&P 500 index.

Equities were the best-selling asset class in August for the fifth month in a row, with over £1bn in inflows, according to the latest Investment Management Association (IMA) statistics.

ETP provider Source has launched a private equity ETF as a more liquid alternative to investing in private equity buyout funds.

Investors fled Italian equities on Monday morning as political tensions resurfaced in Italy, while fears of a potential US government shutdown also impacted markets across Europe.

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