News

Tesco shares have fallen as much as 4% on reports it is considering a rights issue to shore up its balance sheet.

Hargreaves Lansdown has selected Smith & Williamson and Brooks Macdonald as its preferred partners for bespoke discretionary asset management services.

Regina Borromeo has more than doubled exposure to mortgage-backed securities in the Legg Mason Income Optimiser fund since the start of the year as a play on the housing recovery in Europe.

Nick Gartside, co-manager of the JPM Strategic Bond Fund, has said that a divergence in central bank policies could lead to more diverse returns for fixed income investors in future.

Old Mutual Wealth has appointed former Rathbone Brothers chief executive Andy Pomfret as a non-executive director.

PSigma Asset Management has suffered further outflows following news of Bill Mott's retirement, after an institutional client withdrew from an income mandate.

UK 'challenger bank' Aldermore is set to float later this month, with a share price which values the business at around £800m.

Small-cap rethink

Cofunds is planning to review the language of a client letter after an adviser slammed its 'provider speak'.

A top regulatory lawyer has warned the Financial Conduct Authority (FCA) could eventually ban all forms of corporate entertainment by asset managers.