News

Standard Life Investments has overhauled its £420m Select Property fund, giving the portfolio a global remit.

F&C is in discussions with the IMA to add its Real Estate Securities and Real Estate Equity Long/Short funds to the IMA Property and Absolute Return sectors sectors respectively.

BlackRock has soft-closed its European Opportunities Extension fund at £540m to protect investors.

Private equity firm Electra has rebuffed activist investor Edward Bramson's attempt to become a director.

Wealth manager St James's Place (SJP) has revealed it received a Financial Services Compensation Scheme (FSCS) levy of £6.9m for 2014.

Discretionary fund managers are facing growing pressure to standardise managed portfolio fees as the FCA considers warning advisers against using any service where costs are not clear.

BP will step up its share buyback programme with the revenues from divestments over the next year, according to its second quarter results.

Transact has appointed Goldman Sachs to broker a full sale of the business, with senior staff open to an exit if a takeover is agreed, Investment Week understands.

Lloyds Banking Group has been fined £218m by UK and US authorities for a series of LIBOR failings, including manipulating fees owed to the Bank of England (BoE) as a result of taxpayer-funded support provided during the financial crisis.

Jon Taylor, head of the former Co-op life insurance business, is to replace Hugo Thorman as managing director of platform Ascentric.