News

Neil Woodford is to use a three-week offer period to launch a new UK equity income fund when he joins Oakley Capital this May.

Former Financial Services Authority (FSA) chairman Lord Turner has warned that the UK has failed to rebalance its economy and is simply repeating the errors made in the run-up to the 2007/8 financial crisis.

Philip Matthews has turned over almost half the holdings in the Schroder UK Alpha Plus fund since taking over the fund from Richard Buxton in October, Investment Week can reveal.

Barclays has said it intends to cut up to 12,000 jobs this year, including 7,000 in the UK, as it reveals it has upped its staff bonus pool despite a drop in profits.

Clients saving more for retirement will cause global assets under management to soar by 2020, PwC has predicted.

The Financial Services Compensation Scheme (FSCS) is to pay out £100,000 to around 400 savers after a Kent-based credit union collapsed.

Aviva Investors is winding down its £79m Property Investment fund as assets have shrunk to a point where "it is no longer optimal" to run.

Walker Crips Group is continuing to pursue its growth agenda after a successful last quarter of 2013, with assets under management jumping by 33% over the year.

More than 5,000 financial advisers, brokers and bankers have been sacked or suspended since the beginning of the financial crisis, according to Financial Conduct Authority (FCA) figures.

Barclays Bank saw adjusted pre-tax profits fall by almost a third during 2013 as litigation costs impacted the business, but has increased the bonuses it pays staff.