F&C

Flows into multi-asset products have been growing consistently in recent months, and multi-asset now constitutes 11% of the UK funds market.

Edward Bramson is to stand down from his role as chairman of F&C Asset Management, to be replaced by Kieran Poynter.

Wealth managers and asset managers have led the pack in early morning trading after a number of companies delivered positive updates to the market.

F&C Asset Management has reported pre-tax profits of £37.3m for the half year ending 30 June 2013, citing buoyant equity markets and cost-cutting measures introduced by activist shareholder Edward Bramson.

Just 2.05% of funds achieved top quartile returns over the three years to Q2 2013, down from 4.56% from Q1, according to new research.

Fund buyers have been turning to more niche bond funds in an effort to protect portfolios as the US central bank hints it will soon rein in its stimulus measures.

A number of big name fund managers have been flagged by Bestinvest's latest infamous list of "dog funds", which names and shames the worst performing funds available to UK investors.

EUROPEAN EQUITIES

F&C Investments' marketing head Tracy Fennell has left the firm, following a corporate restructure.

UK MID CAPS