schroders

Value is drying up among the largest investment trusts in the market, with discounts shrinking as buyers favour more liquid products.

Shares in Schroders and Aviva jumped sharply today after strong full-year results from both firms, helping to keep the FTSE 100 ahead.

Schroders today said profits at its wealth management business had rebounded sharply following the takeover of Cazenove in July, while asset management profits also jumped as the business moved on from the loss of star manager Richard Buxton.

Some of the UK's largest fund houses are shifting focus to concentrate on ongoing charges after Invesco Perpetual became the first group to ditch annual management charges (AMCs) altogether.

Hargreaves Lansdown has revealed the exact details of its new clean pricing deals from leading fund groups including M&G, Newton and Schroders.

THE BIG INTERVIEW

Philip Matthews has turned over almost half the holdings in the Schroder UK Alpha Plus fund since taking over the fund from Richard Buxton in October, Investment Week can reveal.

SECTOR ANALYSIS

Schroders is to merge its Corporate Bond fund into the Cazenove UK Corporate Bond fund as it continues to streamline its range following the takeover of Cazenove Capital.

Some of the UK's leading fund groups are understood to be holding talks about their relationships with intermediaries and other partners following the release of new FCA rules.