Old Mutual

Neptune is to merge away its UK Equity fund, run by Scott MacLennan, later this year following the departure of highly rated manager Alex Breese.

BIQ QUESTION

IPOs

Old Mutual Global Investors (OMGI) is planning to relaunch a number of funds in its range, with global equities, Asia and emerging markets touted as major growth areas.

Old Mutual Wealth has reported a pre-tax profit increase of 14% for the first half of the year to £108m, driven by a surge in gross inflows over the period.

M&G Investments has regained its number one position on the Pridham fund sales list, knocking BlackRock off the top spot.

ECONOMIC OUTLOOK

Old Mutual's Richard Watts has taken positions in student accommodation and closed life assurance companies as mid-cap managers continue to ride the housebuilding and construction boom.

Old Mutual's Stephen Message is looking to life companies with their own platforms to boost dividend payments for his fund.

Hargreaves Lansdown has written to clients invested in the Schroder UK Alpha Plus fund, previously run by Richard Buxton, stating the new management team is not of the same 'calibre' as the veteran investor, and provided documents to enable them to switch...