Funds

Investment trust buyers are looking to switch into unloved value trusts after the rally in their growth-orientated peers left many of these looking overvalued.

Former chancellor Norman Lamont (pictured) has become chairman of the Jupiter Second Split trust after Gordon Campbell passed away.

COMMENT

An execution-only investment platform launched a year ago by Surrey-based IFA Informed Choice has closed to new business after its pricing terms became uncompetitive.

Venture Capital Trusts have been hoarding investor cash after an error from HM Revenue and Customs left the vehicles afraid of issuing new shares.

TECHNOLOGY

HM Revenue and Customs has issued fresh guidance on its decision to tax unit rebates after receiving a number of queries from fund groups and platforms.

Hargreaves Lansdown has said Neil Woodford's new fund management venture could provide a further boost to its business after it reported record net inflows of £1.83bn for the first quarter.

Charles Stanley's pre-tax profits are likely to fall 10% short of market expectations due to rising costs, the wealth manager has warned.

Evan Bruce-Gardyne, director of investor relations at Alliance Trust says, in time, the Retail Distribution Review will help encourage investors to look at the wider picture before committing capital to a fund.