Funds

Edward Bramson's investment vehicle Sherborne has lifted its stake in 3i to 5%, five months on from first building a position in the private equity firm.

HM Revenue & Customs (HMRC) is expected to extend its tax on rebates to some discount brokers, even on funds held inside an ISA.

An overhaul of Alliance Trust's top ten holdings has seen it swap Lloyds for Barclays and step up its gearing in Q1.

Investment trust broker Numis said it expects the discount on Schroder UK Growth to tighten, following this morning's announcement Julie Dean will take over managerial responsibilities for the trust.

Fidelity FundsNetwork has warned the true cost of implementing the 2016 legacy rebate ban could be far higher than the regulator's predictions because of rules on contacting ‘dormant' clients.

Fidelity FundsNetwork has confirmed it is reviewing its charging structure for investors in its Navigator range who buy the funds via its own platform.

Skandia has expressed fresh doubts about negotiating preferential share classes with fund managers, instead focusing on launching unbundled share classes that will continue to pay rebates.

Hargreaves Lansdown is planning to launch a rebate-free charging model at the start of next year following the latest platform paper from the regulator.

Stephen Mohan, former Cofunds managing director of operational services, has moved to Allfunds Bank to spearhead its growth plans in UK and Ireland.

THE BIG INTERVIEW