News

Aegon's net income fell 2% in the first half of this year, as higher underlying earnings were offset by losses on hedges due to rising equity markets and volatility - and an £18m loss on the sale of Positive Soltuions.

Platform providers who are overcharging for propositions are finding the "the noose is tightening" around them, according to a new pricing guide.

The FTSE 100 closed 1.4% down on Wednesday after new Bank of England Governor Mark Carney gave the market forward guidance, but sterling recovered after an initial drop.

Standard Life has reported an increase in pre-tax profits for the first half of the year, with strong growth in assets under management and fee based revenue.

Aviva has reported a profit after tax of £776m for the first half of this year, turning around a £624m loss for the half year 2012, but said its funds business has seen outflows.

Henderson Group has seen a record jump in underlying profit before tax in the first half of 2013 despite a £2bn outflow from its institutional business.

Schroders reported an outflow of more than £1bn in June, following a market sell-off and the departure of its head of UK equities Richard Buxton.

Threadneedle Investments has named Alastair Caw as head of UK wholesale, replacing Gary Collins.

Fixed income managers have taken advantage of pricing opportunities in the high yield space to move back into the asset class, after outflows hit record levels in June following the Federal Reserve's tapering talk.

Terry Ewing, manager of the Ignis American Growth fund, is moving in to consumer discretionary stocks in anticipation of improvements in the domestic US economy.