Equities

The European Central Bank (ECB) has cut interest rates to a new record low amid ongoing fears about the eurozone's economic health.

Wealth manager Ashcourt Rowan today said revenues had fallen in the last year amid a restructure of the group as it looks to prepare for future expansion.

Legal & General said today its recent move to take over fund supermarket Cofunds will lift assets in its savings arm above £100bn to a new record high when the deal completes.

The UK small cap market has done spectacularly well over the last year, leaving some to question where potential upside will come from next, but stock pickers say there are still some gems that can keep on rising.

A number of global emerging market fund managers have been cutting exposure to the defensive consumer staples sector, as fund buyers warn their positioning has damaged performance.

Henderson Global Investors has managed to reverse outflows from its retail book after seeing the first net inflows into the business since Q1 2011.

Legg Mason is introducing a sterling-hedged share class on its offshore Legg Mason Royce US Small Cap Opportunity Fund in response to client demand in the UK.

BlackRock has joined a growing list of fund groups to reject calls for a ‘super clean' share class, instead favouring a single stripped-down class to avoid adviser confusion.

UK EQUITIES

Aberdeen CEO Martin Gilbert has raised the prospect of closing the group's Asia Pacific equity funds in the near future after admitting it "cannot cope" with soaring inflows.