Investment

Hermes has appointed Zoe Shaw as head of fixed income to create a range of specialist credit products.

The regulator is to meet members of Tisa to discuss re-registration rules next month, with the trade body reiterating to platforms best practice guidelines when dealing with super clean share classes after issues arose recently.

Wrap Nucleus saw £725m of inflows in the six months to 30 June, with profits jumping 85% as the platform grew its market share.

Fidelity is planning to merge its International fund into a fund focused on global assets later this year.

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Phoenix Group has reported a boost to profits in the first half of the year, while the sale of Ignis allowed it to pay down its debt.

Majedie UK Income

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Ministers considered selling the government's entire stake in the Royal Mail earlier this year when shares were trading near their peak, but held back after being advised against breaking the terms of a lock-up agreement.

The Investment Management Association is right to enforce rules forcing low-yielding funds out of the equity income sector, according to Allianz's Simon Gergel.