News

Wealth manager Brooks Macdonald expects its funds business to break even in the second half of its financial year, and will turn a profit for the first time in 2015-16.

Henderson European equities director John Bennett has joined the board of beleaguered Scottish football club Rangers.

SWMC Small Cap European fund manager Jamie Carter has taken his gross market exposure to a record high in the view smaller companies are being overlooked by investors in the "mad scramble" to buy European equities.

Charles Stanley is to offload its securities business, with the likes of Cantor Fitzgerald and Panmure Gordon set to be beaten to the deal by US firm Stifel Financial.

Vanguard's Australia director John James is to take over its UK and European operations to replace Thomas Rampulla, who will return to the group's US office.

Close Brothers has reported a strong first half of its financial year 2014/15 despite a more challenging environment for its Winterflood business.

BlackRock has cut fees on its FTSE 100 ETF to just 0.07% as the price war among passive product providers continues.

The Financial Conduct Authority (FCA) is to investigate the activities of the former operators of the Connaught Income Series 1 fund, Capita Financial Managers and Blue Gate Capital.

Brandeaux has completed the sale of its student accommodation property portfolio and aims to make payments to shareholders in the suspended funds this month, though NAV per share has been reduced further.

M&G has reported a fifth consecutive year of record profits despite net outflows for its UK business increasing to £1.7bn in 2014.