Passives

FE Trustnet has revealed the groups and funds topping its passive ratings chart as its ETF and tracker comparison service goes live.

FE Trustnet is to launch a ratings system of passive funds for retail investors, ranking ETFs and index trackers alongside each other for the first time.

HSBC Global Asset Management's Caroline Hitch is reducing exposure to equities in favour of credit in the firm's $8bn World Selection portfolios as she fails to find "compelling" valuations for shares.

The shape of things to come

Joseph Molloy, global head of index equities at Legal & General Investment Management, has joined HSBC Global Asset Management as head of passive equity.

Fidelity has proposed an overhaul of conventional methods of comparing tracker funds' performance, saying simply looking at tracking errors can produce 'illusory' results.

The smart beta challenge

The world's second largest fund manager is calling for an improvement in the relationship between company directors and shareholders, on concerns about global corporate governance.

Fund selectors are increasingly favouring boutique investment houses and rejecting star managers, according to a survey by distribution company Harrington Cooper.

US fund managers have "failed" their clients by focusing on preserving their careers rather than growing clients' capital, according to Baillie Gifford's Ian Tabberer.