Funds

Howard Cunningham, portfolio manager within the fixed income team at Newton Investment Management, says although credit spreads are now lower, investors should not dismiss corporate bonds.

Investec has agreed to sell its UK mortgage business Kensington to private equity firms Blackstone and TPG Special Situations Partners for £180m.

'The key question now is how to counterbalance equity exposure'

R&M UK Equity Income

Skandia has reversed its unpopular decision to close mirror versions of the Invesco Income funds after an outcry from advisers.

Equilibrium Asset Management is to launch its own range of in-house funds next year as it looks to curtail its use of platforms and avoid trading delays.

Hargreaves Lansdown is taking aim at the low-end D2C discretionary market after announcing plans to unveil a new discretionary portfolio management service in 2015 with a minimum investment of under £10,000.

Although Hargreaves did not move to an unbundled pricing model until Q4 of its financial year, this week's results gave an early indication of the margin pressures it is facing.

Hargreaves Lansdown has reported a record pre-tax profit of £209.8m for the year to 30 June as it begins to deal with the initial impact of changes to its charging model and falling returns on cash.

The Invesco Perpetual Select trust, managed by Mark Barnett and Nick Mustoe, has cut upfront and performance fees in the latest sign of price pressure in the closed-ended space.