News

Schroders has moved to hard close Paul Marriage's popular long/short Cazenove Absolute UK Dynamic fund in order to preserve performance.

Schroders recorded third quarter pre-tax profits of £121.6m, it said today, a 37% increase from £88.6m in Q3 2012, as the impact of the acquisition of Cazenove boosted its numbers.

3i Group has sold its stake in Bestinvest to private equity firm Permira for an undisclosed sum.

TwentyFour Asset Management has raised £55m for its TwentyFour Income fund, more than the firm had targeted, after strong investor demand.

Novia's in-house discretionary fund management service, Copia Capital Management, has gone live today, and the platform has already seen interest from several adviser users.

Bill O'Neill, head of chief investment office of wealth management research UK at UBS Wealth Management, has warned there are three key 'nasties and traps' to watch out on the way to global economic recovery.

The Henderson UK Equity Income fund - run by James Henderson - has changed its name and objective as part of an overhaul of the fund which removes its need to chase high yielding stocks.

Smaller companies fund favourite Moneysupermarket.com rose 16% in morning trading after announcing better-than-expected results.

Chris Reid, manager of the Majedie UK Income fund has revealed five key stocks that he expects will help his fund maintain its top ranking in the UK Equity Income sector in the coming year.

BP and Royal Dutch Shell produced mixed results last week, but top managers are returning to the beaten-up oil majors, predicting a focus on shareholder returns instead of "growth at any cost".