News

HIGH YIELD

Seven of the UK's largest asset managers are teaming up to gather information on end investors' needs in a move which could trigger changes to their fund ranges.

Aberdeen's chief executive Martin Gilbert has committed the fund group to competing on a global scale after it secured the takeover of Scottish Widows Investment Partnership (SWIP) in a deal worth up to £650m.

Japanese markets have continued to surge back towards pre-financial crisis levels, with the latest move on Monday taking it within a whisker of a six-year high.

Lloyds Banking Group is set to sell a further 12% stake in wealth manager St James's Place (SJP) for £390m, according to reports.

RBS, the taxpayer-owned bank, has been accused of killing off small businesses to seize assets for its own property empire, in evidence referred to financial watchdogs by business secretary Vince Cable, according to reports.

Eclectica hedge fund manager Hugh Hendry has said he has been forced to leave his bearish outlook behind as he faces up to a market "which only makes sense through the prism of trends".

The FTSE 100 was lower once again during afternoon trading as the blue chip index continues to retreat from its recent peak above 6,800.

A record year to date performance has taken Ascentric and IFDL past the £7bn milestone for assets under administration.

Paul Flowers, the former chairman of the Co-op Bank filmed apparently paying for drugs, has been arrested in connection with a "drugs supply investigation", according to reports.