fund managers

The Upper Tribunal has upheld a Financial Conduct Authority decision to fine a fund manager £89,000 for not doing more to prevent a client from committing market abuse.

"Yes, I am a millionaire," a fund manager told me recently. He wasn't boasting, he wasn't showing off, and he is hardly what you would call the unacceptable face of capitalism.

The fund management industry is "ripe for investigation" regarding pay packages, according to the Institute of Directors (IoD).

A report by think-tank New Financial has suggested fund manager pay may overtake that of investment bankers by 2016, following a sharp rise since the financial crisis.

Smith & Williamson posted record profits for the six months to 31 October last year, helped by the performance of its investment management division.

The government is to crack down on investment managers "disguising guaranteed fee income as capital gains", as part of anti tax avoidance measures outlined in the Autumn Statement.

Just 12% of the general public trust the fund managers, according to a new report by PwC which ranks the industry below retail and investment banks in terms of trustworthiness.

Fund management groups are tightening rules around investing in Russia, in some cases discouraging portfolio managers from adding to positions.

Newly-launched boutique Sanditon Asset Management, formed by ex-Cazenove managers Tim Russell and Chris Rice, is poised to launch an investment trust within the next four weeks.

The Financial Conduct Authority is to launch an investigation in to 30 million insurance policies sold across three decades, looking for signs they were "unfair" to customers, according to reports.