Alternatives

Albion Ventures has launched a top up scheme seeking to raise up to £15m across six of its venture capital trusts (VCTs).

Funds under management at Man Group grew by 14% in the third quarter, supported by the acquisition of FRM, although the firm saw increased net outflows of $2.2bn for the period.

ALTERNATIVES

David Harding, founder of hedge fund Winton Capital Management, has disclosed an annual tax bill of £34m and urged other higher rate taxpayers to pay their fair share.

The Financial Services Authority (FSA) has fined Swiss-based French hedge fund manager Stefan Chaligné £900,000 and handed out a lifetime ban for market abuse.

Franklin Templeton Investments has bought a majority stake in hedge fund firm K2 Advisors Holdings (K2), expanding its alternative investments and multi-asset propositions.

John Paulson, the billionaire hedge fund manager, is reported to have pared losses in August after a difficult year for his strategy.

THE BIQ QUESTION

BNP Paribas has gained regulatory approval to launch a UCITS compliant European structured product, aiming to generate an 8% return per annum.

CONTRARIAN