News

Legal & General Investment Management's Richard Hodges will take on the management of three additional fixed income funds totalling £2bn in assets, after existing manager Michel Canoy opted to exit the business.

Jupiter has written to unitholders in Ariel Bezalel's £1.6bn fund, asking them to vote on plans which would give the manager wider powers to use derivatives to take short positions.

Banks paid out £81.2m last month to compensate businesses mis-sold complex interest rate hedging products.

Ian Ormiston, manager of the Ignis European Smaller Companies fund, has benefited from the rally in European stocks this year and has revealed the top themes driving returns in his portfolio.

Hargreaves Lansdown has flagged up five key investment themes to benefit from the announcements made in yesterday's Autumn Statement.

US treasury yields have jumped and US futures have fallen after the second reading of US GDP growth for Q3 saw a large upward revision.

Share buybacks carried out by Venture Capital Trusts (VCT) will no longer qualify for tax relief from April 2014, the government has said.

The government will boost ISA, Junior ISA and child trust fund (CTF) annual subscription limits in line with the consumer price index, it said today.

The government's stake in part-nationalised lender Lloyds Banking Group is to be offered to the public, the government said today.

Smith & Williamson has appointed Morgan Stanley's Michael Pagliari as investment management partner, its fourth hire in the investment management division in the last two months.