News

Ian Warmerdam, manager of the Henderson Global Growth fund, has been cutting exposure to the US and shifting to emerging markets, as the runaway performance of the US market has caused elevated stock values.

Russell Investments has re-hired its former senior analyst, Van Luu, to head up its currency and fixed income strategy desk.

It has been several weeks since Jason Pidcock announced he is leaving his post as manager of the Newton Asian Income fund, after a decade at the helm, to set up a similar strategy for Jupiter later this year.

The J.P. Morgan Emerging Markets investment trust has cut its performance fee in a move it says means its charging structure is now more attractive than peers'.

Index provider MSCI has said it will not include China A-Shares in its global and emerging market benchmarks until issues relating to liquidity and ownership are resolved.

Rathbone Unit Trust Management is slashing fees on its entire multi-asset range, as it prepares to include direct equities in portfolios as part of a shift to a "private client-style product".

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

Odey Asset Management is to pass its £217m Continental European fund to ex-Waverton manager Oliver Kelton.

F&C has confirmed its sales and distribution businesses are to rebrand as BMO Global Asset Management, as the fund house becomes more closely integrated with its parent firm.

Miners and financial are dragging down the FTSE 100 index this morning, with HSBC among the biggest fallers following the news of further cost-cutting at the bank.