The Financial Conduct Authority has found Newton Investment Management, Hargreave Hale and River & Mercantile Asset Management guilty of breaking competition laws for their involvement in an information-sharing scandal, which saw the regulator fine former Newton portfolio manager Paul Stephany earlier in February.
The firms shared strategic information on a bilateral basis during one initial public offering (IPO), understood to be Card Factory, and one placing, shortly before share prices were set, and then disclosed...
Equities overweight down to 3%
Relates to 136 million transaction reports
Patience must be a watchword
MSCI has recently increased the Chinese A-share market's inclusion factor from 5% to 20%.
Change of objective