Funds

Novia's in-house discretionary fund management service, Copia Capital Management, has gone live today, and the platform has already seen interest from several adviser users.

Old Mutual Global Investors (OMGI) has reported rising net sales in the third quarter, which it attributed to strong flows into its new UK Alpha fund for former Schroders' head of UK equities Richard Buxton.

Ascentric, the Royal London-owned wrap platform, has seen net new business jump by 46% in the third quarter.

VCT specialist Puma Investments has today launched its latest limited life venture capital trust, Puma VCT 10.

INVESTMENT TRUSTS

Hargreave Hale is seeking to raise £20m for its VCT range from new and existing investors.

Standard Life has warned clients using its Wrap and Fundzone platforms they face a hike in fees if they stay invested in a small range of funds which are not planning to offer clean share classes.

Alliance Trust has suffered a slowdown in returns in the third quarter which it said was due to its high allocation to US equities.

Some asset managers and platforms are displaying 'common weaknesses' in their defences against money laundering, bribery and corruption, the Financial Conduct Authority (FCA) has said.

Angus Tulloch and Martin Lau, managers of the Scottish Oriental Smaller Companies trust, have bagged a performance fee of £1.7m over the year to the end of August.