F&C

Charlie Porter is to step back from his role at the helm of F&C Investments, Investment Week understands.

F&C Investments has scrapped plans to launch a US investment trust after it failed to reach its £100m fundraising target.

F&C has made a "very significant saving" after the Court of Appeal reduced the amount the group has to pay to two hedge fund managers following a 2011 High Court case.

F&C Investments said its decision to launch a US investment trust instead of an open-ended fund has been largely driven by the vehicles' capability to retain a fixed pool of assets.

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Fund groups are scrambling to develop risk-rated propositions ahead of the RDR deadline at the end of this year, with major houses including Jupiter planning how to enter the space.

F&C Asset Management(F&C) reported positive inflows of £13m into its retail range in the first three months of the year, after the group saw outflows of £122m in Q4, 2011.

Three advisers argue the case for investment trusts and reveal some of their favourites.

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