News

Schroders has expanded its £76bn multi-asset team further with two hires as it focuses on building this part of the business.

Paul Niven, manager of the £2.5bn Foreign and Colonial investment trust, said he has already started tapping into the resources on offer following BMO's acquisition of F&C earlier this year.

Allianz Global Investors is to close its EcoTrends fund in October, while in a separate move it will add the label 'multi asset' to its RiskMaster range.

The government has reduced its stake in RBS by 5.4%, selling 630 million shares for £2.1bn in a quick-fire sale to institutional investors.

Shares in Standard Life fell 3% in early morning trading as half yearly results revealed a drop in annuities sales had hit the Edinburgh-based group's profits.

Artemis' Alex Illingworth has said the Mid Wynd International investment trust's zero discount policy means the investment trust is effectively operating as a "semi-open" vehicle.

Standard Life Investments' Global Absolute Return Strategies fund has suffered its first quarterly loss since mid-2013 in the three months to 30 June after it was caught up in the market volatility seen in the second quarter.

Aberdeen Asset Management is continuing its fund rationalisation process following the acquisition of Scottish Widows Investment Partnership (SWIP) by merging away three more funds.

Nikko Asset Management has expanded its global fixed income team with the hire of fund manager Holger Mertens from Lazard.

Provider LV= has bought a majority stake in robo-advice operation Wealth Wizards.