News

Woodford Investment Management raised £1.6bn for the CF Woodford Equity Income fund during its offer period this month, the company has announced.

The Financial Conduct Authority has charged a former Schroders equities trader with nine counts of insider dealing.

Wonga, the UK's largest payday lender, has been forced to repay £2.6m to customers by the Financial Conduct Authority (FCA) after the regulator found it sent fake legal letters to borrowers.

Hargreave Hale has hired three new investment managers for its private client team from Brewin Dolphin's London office.

Kames Capital's bond manager Phil Milburn has been finding investment opportunities in the new issue market this month after increasing the cash weighting in his High Yield Bond fund.

Schroders is among a group of investors to have acquired a $32m (£18.8m) stake in online wealth manager Nutmeg.

Fund selectors are buying into asset-backed securities, labelling them one of the few remaining value trades in fixed income investing amid moves by the European Central Bank to support the sector.

Weath manager European Wealth has completed its first acquisition after buying IFA Compass Financial Benefits, using the proceeds of a ££725,000 share placing to fund the takeover.

A hike in the base rate of as little as 0.25% would have a much greater impact on the disposable incomes of highly indebted consumers, potentially threatening the UK's recovery, Neil Woodford has said.

Neuberger Berman is to launch a European High Yield bond fund for recent hire Andrew Wilmont, as it bids to replicate the success of its $13bn (£8bn) US offering.