News

Giles Money, manager of the Schroders global climate change strategy, is leaving the group amid a reshuffle of the global and international equities team.

Former Schroders manager Julie Dean is to join former Cazenove colleagues Chris Rice and Tim Russell at Sanditon Asset Management.

The Financial Conduct Authority (FCA) is proposing to make its block on the distribution of contingent convertible bonds (CoCos) to retail investors permanent, following a temporary ban earlier this year.

Standard Life Investments has reported a £1bn net outflow from its fixed income products over the nine months to September, with the subsequent departure of the Ignis rates team adding to outflows.

Alliance Trust has overhauled its equity team, with the loss of five roles expected to save £2m a year.

Lazard Asset Management's Stephen Russell has pointed to off-benchmark positions as a driver of returns for his EM Core Equity fund as a growing number of global stocks turn to the developing world for revenue growth.

GAM's Charles Hepworth expects the market falls seen earlier this month to spur an end-of-year rally, making up the losses suffered by equity investors.

Returns on a typical 60/40 US equity and fixed income portfolio over the next decade may be half those seen over the previous 50 years, according to Morgan Stanley strategists.

Leading fund managers have become more cautious about their expectations for interest rate hikes, with many now expecting any movement in base rates to be postponed until at least 2016.

The Financial Conduct Authority (FCA) has offered help to financial advisers who want to build simplified advice models, saying it is prepared to give 'individual guidance' or an 'informal steer' as part of its Project Innovate.