UK All Companies

Equity boutique Majedie Asset Management has hired Richard Staveley from River and Mercantile as a manager on its flagship UK Equity fund.

Investors have ploughed more than £34bn into underperforming funds which have severely lagged peers over the past three years, the latest RedZone report from Chelsea Financial Services reveals.

The Absolute Return sector has topped the IMA's monthly sales charts for March, posting its best monthly net sales since December 2009.

As advisers digest last week's revelation that top UK fund manager Richard Buxton is to exit Schroders after more than a decade at the group, attention is now turning to where to invest next.

BlackRock's absolute return manager Mark Lyttleton is due to return to his post next week after an extended break from the industry.

Fidelity's Sanjeev Shah has reduced his holding in part-nationalised lender Royal Bank of Scotland (RBS) following a tough year for financials in 2011.

Jayesh Manek's £40m Manek Growth fund has soared to the top of the UK All Companies sector, losing just 2.5% in the last three months of excessive market volatility.

Thames River multi-manager heads Rob Burdett and Gary Potter's latest quarterly report on the fund management industry shows just 2.68% have posted top quartile performance over the three years to Q2 2011.

Hargreaves Lansdown has added Liontrust's Special Situations fund to its Wealth 150 list of favourite funds, in the second win this week for the £1.2bn manager.

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