News

Aberdeen Asset Management is launching a China A-Share fund after being granted its first Chinese RQFII licence.

Protests in Hong Kong caused the country's stock market to tumble today, while sharp drops in its currency forced the country's monetary authority to announce emergency measures to provide support.

George Osborne is expected to announce cuts to a so-called 'death tax' which applies to the untouched pension pots of over-75s at this year's Tory conference.

Aberdeen Asset Management today said outflows from its business had slowed significantly following a sustained period of redemptions, with the group also seeing better than expected flows from recent acquisition SWIP.

PIMCO's Dan Ivascyn has been named as Bill Gross' successor following the legendary bond investor's resignation, but three other managers will take over the $221bn Total Return Bond fund.

Fund buyers have had a tough time choosing funds this year, as some of the best known portfolios in the UK have gone through manager changes.

Fund groups should be wary of using performance fees within their products to incentivise managers, Jupiter's vice chairman has warned.

Active funds

PIMCO founder Bill Gross, manager of the PIMCO Total Return fund, has quit the group to join Janus Capital.

Richard Plackett is to step back from his role as head of BlackRock's UK Small and Mid Cap equity team and will relinquish control of his two investment trusts when he returns from sabbatical.