News

US fund manager GAM has liquidated its underperforming GAM Star GEO fund run by Paul Udall after assets dwindled to under £10m.

Aberforth founder and fund manager David Ross is to retire in May 2014 after leading the firm for nearly 25 years, Investment Week understands.

Theo Zemek is to exit AXA Investment Managers, handing over her responsibilities to new hire John Porter.

The Financial Conduct Authority (FCA) has fined asset manager SEI Investments more than £900,000 for failures relating to its handling of client money over a five-year period.

Ignis Asset Management has launched an Absolute Return Emerging Market Debt fund for Dan Beharall in a move to expand its absolute return product range.

Total expense ratios (TERs) of 240bps for a combination of adviser fees, discretionary management charges, platform costs and fund manager fees are 'unsustainable' and will likely be driven down, according to Schroders head of UK intermediary Robin Stoakley....

Fund groups are facing a fresh headwind to their expansion attempts as global private banks' buy lists shrink post-RDR.

The price of Brent crude oil has fallen as much as $3 per barrel, following a deal between Iran and other major world powers on nuclear activities.

The UK Statistics Authority (UKSA) has criticised the methods used by the Office for National Statistics (ONS) when it releases sensitive economic data.

Neil Rogan has taken a seat on the board of the Murray Income trust.