Investment

Neil Woodford's St James's Place mandate is in line for a rapid windfall from the manager's investment in Daisy Group after its chief executive said he was plotting a £500m buyout of his own company.

The government has been told it can sue French banking giant Societe Generale for allegedly mis-selling financial products to Northern Rock that were partly to blame for UK lender's collapse.

The eurozone's two largest economies both performed worse than expected in the second quarter, raising fresh fears over economic stability in the currency bloc.

The Investment Management Association is to launch a consultation into how fund groups disclose portfolio turnover rates as early as next month.

Schroders is set to merge its Global Climate Change fund into the QEP Global Core fund at the end of September.

BlackRock has scrapped the 1% initial charge for intermediaries investing in Alister Hibbert's European Dynamic fund after assets under management fell to a more manageable level.

Funds with a top-down macro approach have struggled to beat bottom-up stockpickers this year, with many dropping into the fourth quartile of their respective sectors.

ALTERNATIVES

INFLATION

Fund groups are to review their current policies regarding social media after the Financial Conduct Authority published guidelines on what groups can put on websites such as Twitter.