F&C Asset Management has told investors it expects to take a £2.3bn hit to its assets under management this year when Friends Life withdraws money from its annuities business.
A number of top fund managers took a hit on their portfolios this week as retail favourite Tesco issued a profits warning, sending its shares down 16% in a day - the largest fall since 1988.
Leading fund managers believe gilts now look like the next safe haven bond market to come under threat ahead of DMO sale this week.
HSBC slashes target prices for many large UK-listed groups, claiming the sector is not ‘uniformly good value'
F&C manager Phil Doel adds to holdings in major income-payers like Vodaphone in UK market to support dividend on £441m portfolio.
Executive chairman Edward Bramson plans to reduce firm's expenses by £33m.
US markets opened lower today as investors remained cautious on tomorrow's European summit aimed at solving the sovereign debt crisis.