UK

INVESTMENT TRUSTS

Ashcourt Rowan has agreed a deal with Duke Street General Partner to acquire UK Wealth Management (UKWM), funding the purchase through a share placing.

Brewin Dolphin is cutting investment services for clients with portfolios valued at under £50,000 due to unsustainable costs.

Baring Asset Management has hired former Martin Currie director Duncan Goodwin to head its global resources team.

The UK could be the first developed country to raise interest rates, with a hike coming as soon as next year, according to Fidelity fixed income head Andrew Wells.

ALTERNATIVES

Insurer Zurich has given BlackRock a mandate to passively manage £3bn of its funds sold through Allied Dunbar and Eagle Star brands in a move that aims to create stability for investors.

Invesco Perpetual has begun selling down positions in some of the small and mid-cap companies held by Neil Woodford ahead of the manager's departure in April.

Bank of England Governor Mark Carney will act to prevent the housing market growing at 'warp speed', and said there are economic tools he can use other than keeping interest rates low.

The Investment Management Association (IMA) has responded to the FCA's concerns over outsourcing arrangements across the industry by producing a set of principles it expects members to adopt and adhere to.