The cost of its contribution to the Financial Services Compensation Scheme has cost Charles Stanley 40% of its pre-tax profit in the last half-year.
Clive Beagles, manager of the £1.3bn JO Hambro Capital Management UK Equity Income fund, is continuing to back UK domestic names, throwing his weight behind unpopular "market laggards" Tesco and Halfords.
Former Hargreaves Lansdown investment manager Ben Yearsley has joined Charles Stanley to help spearhead the group's new direct-to-client investment service.
A recent change in tax rules could lead investors to view closed-ended funds in a fresh light, writes Stephen Peters, senior investment trust analyst at Charles Stanley
Charles Stanley, the stockbroking and investment management group, reported pre-tax profits fell 37% to £8.5m for the year ended 31 March 2012.