News

The London Stock Exchange and Hong Kong's Securities and Futures Commission have reached a deal allowing Hong Kong investors easier and cheaper access to UK-quoted companies than ever before.

Investors pulled an estimated £1.5bn from Richard Woolnough's M&G Optimal Income fund in April and May as bond market volatility brought a sudden end to the portfolio's rapid AUM growth.

Legal & General is understood to be considering a sale of its Cofunds platform, just over two years after it sealed a deal to take full ownership.

AXA Investment Managers has handed its onshore emerging markets fund, previously managed by head of emerging markets Julian Thompson, to Ian Smith and Paul Birchenough in a team reshuffle.

Insurer Aviva has launched a direct to consumer (D2C) platform giving consumers access to a general investment account, and ISA and a self-invested personal pension (SIPP).

The Investment Association (IA) has reopened discussions with members over how to reorganise its sector classification system after an initial consultation proved inconclusive.

Ecclesiastical Investment Management has rebranded to EdenTree Investment Management in an effort to emphasise its socially responsible investment offering.

Sebastian Lyon's £2.6bn Troy Trojan fund has been labelled "the biggest disappointment" in Chelsea Financial's biannual RedZone list of underperforming funds.

Aberdeen Asset Management is to issue £100m of non-voting preference shares to Mitsubishi UFJ Trust and Banking (MUTB) in order to raise money for future fund launches.

The FTSE 100 has opened 0.5% lower, with European stocks deeper in the red, after Greece's bailout talks with creditors broke down overnight.