UK

ON UK GROWTH

Troy's Francis Brooke has used inflows into his £1.3bn Trojan Income fund to initiate a position in Lloyds Banking Group ahead of the bank's return to the dividend register.

Former Cazenove European fund manager Chris Rice is to launch a boutique fund management firm with ex-colleague Tim Russell, Investment Week can reveal.

London-based stockbroker JNF Capital is launching an asset management arm, Atlas JNF Asset Management, offering hedge-fund style strategies to retail investors.

The Henderson UK Equity Income fund - run by James Henderson - has changed its name and objective as part of an overhaul of the fund which removes its need to chase high yielding stocks.

Smaller companies fund favourite Moneysupermarket.com rose 16% in morning trading after announcing better-than-expected results.

Smith & Williamson Investment Management has merged its UK Growth fund and its Opportunities fund into the group's UK Equity Growth trust.

Barclays is to cut around 450 jobs in the UK, including a third of its private bankers.

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.

Invesco Perpetual has implemented a dilution adjustment to the price of Neil Woodford's Income and High Income funds, moving to bid pricing on both portfolios after a recent surge in outflows.