Investment

Psigma's Tom Becket has taken profits in Europe after valuations became "unjustifiable".

Wealth manager Rathbone Brothers has agreed to pay £15m as part of a conditional settlement to end a two-year dispute involving a former director which has already cost it £5m in legal fees.

Invesco Pereptual's chief economist John Greenwood has sounded a warning on the Eurozone, predicting GDP and inflation will both undershoot their already low targets.

Wealth manager Brewin Dolphin reported inflows of £300m in the second quarter of 2014.

Closed life consolidator Phoenix has comprehensively refinanced its debt to strengthen its balance sheet and better support its growth plans.

Somerset Capital has admitted a new dilution levy on its funds has proved 'contentious' despite being in keeping with an industry-wide drive to cost transparency.

Alliance Trust Investments (ATI) is to launch two new funds for its ethical risk-rated range.

FCA gets behind fund buy lists

Rewarding outperformance

The ever-faster treadmill of new issues in high yield gives plenty of scope for letting standards slide. Perhaps it is better to focus on established borrowers, argues Donald Phillips, manager of the Baillie Gifford's High Yield Bond fund.