UK equities

Aviva Investors is to close its UK Special Situations fund after one of its managers, ex-Schroders UK equities head Richard Buxton, joined Old Mutual Global Investors.

Canada Life Investments has hired Nigel Kennett from Nomura International as senior fund manager on the UK equities desk.

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.

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

Franklin Templeton is to overhaul its European equity OEIC and rebrand Ben Russon's UK Select Growth fund to create a new range of multi-cap portfolios, Investment Week can reveal.

Scott MacLennan, manager of the Neptune UK Special Situations Fund, has upped his banking exposure and said it is increasingly difficult to ignore the investment case for the sector at home and abroad.

UK equity markets have got off to a flying start this year, with the FTSE All Share and FTSE 100 both enjoying double-digit returns, but which stocks have stood out?

Equity funds regained their position as best-sellers in the UK market in April, according to the latest figures from the Investment Management Association (IMA.

The vast majority of UK smaller companies funds have failed to produce significant alpha for investors over the past year, with the average fund's return lagging one benchmark index by ten percentage points.

Franklin Templeton's Ben Russon is to become lead manager of its £108m UK Select Growth fund next month as he begins to alter the portfolio following his move from Newton.