News

John Betteridge, the former chief investment officer of Prudential's UK insurance division, has joined Rowan Dartington to head its asset allocation team.

Hargreaves Lansdown is taking aim at the low-end D2C discretionary market after announcing plans to unveil a new discretionary portfolio management service in 2015 with a minimum investment of under £10,000.

Although Hargreaves did not move to an unbundled pricing model until Q4 of its financial year, this week's results gave an early indication of the margin pressures it is facing.

Banking giant Lloyds has said it could move its business to England if Scotland votes for independence, leaving its Bank of Scotland arm to be run as a foreign division.

Hargreaves Lansdown has reported a record pre-tax profit of £209.8m for the year to 30 June as it begins to deal with the initial impact of changes to its charging model and falling returns on cash.

One of Europe's top officials has said Scotland will not be allowed to keep using the pound sterling and remain in the European Union in case of an independence vote.

The Invesco Perpetual Select trust, managed by Mark Barnett and Nick Mustoe, has cut upfront and performance fees in the latest sign of price pressure in the closed-ended space.

The price war in the passive space continues to rage but some providers refuse to play ball, offering trackers with fees as steep as active funds.

Skagen is set to offer the largest institutional investors discounted shares on its Kon-Tiki and Global funds.

Aviva Investors has promoted David Lis to chief investment officer for equities and multi-asset as new chief executive Euan Munro continues to make changes at the group.