UK equities

Thesis Asset Management has launched a UK equity-only model portfolio that invests in direct securities rather than funds.

Former F&C UK mid-cap manager Michael Ulrich is to join JO Hambro Capital Management as part of its UK equities team.

UK Smaller Companies trusts were among the best performers last month, after the political uncertainty of the general election subsided.

Jupiter has promoted James Zimmerman to lead manager of its £60m UK Smaller Companies portfolio as Richard Curling steps back.

Querns Asset Managers has appointed small-cap specialist Downing as the investment manager of the Monthly Income fund, to work alongside current manager Stephen Whittaker.

Tesco has said it "sincerely regrets" the accounting error which overstated profits by £263m and is forecasting volatile times ahead for the firm.

Simon Brazier, manager of the £203m Investec UK Alpha fund, has joined the debate on Tesco, arguing the supermarket giant fails to meet his key criteria for investment.

Nigel Thomas, manager of the £4.6bn AXA Framlington UK Select Opportunities fund, believes bond and equity investors are experiencing high levels of confusion caused by recent market dislocations.

Neil Woodford has questioned the viability of the British electoral system following the surprisingly decisive result of yesterday's general election.

Fidelity is to reopen Alex Wright's top-performing UK Smaller Companies fund after restricting inflows two years ago.