News

Tom Dobell, manager of the £7.5bn M&G Recovery fund, has told investors he is working harder than ever to turn around the fund's performance after a difficult spell over the past couple of years.

Standard Life has rejected suggestions the use of preferentially-priced share classes launched by fund groups for specific platforms could breach competition laws.

Investment intermediaries must stump up an extra £2m towards the Financial Services Compensation Scheme (FSCS) levy for 2013/14, taking their annual levy contribution to £78m.

Lloyds Banking Group has moved closer to a sale of Scottish Widows Investment Partnership as it seeks to strengthen its balance sheet, according to reports.

US fund house Polen Capital Management is making a move into the UK market with the launch of the Polen Focus US Growth fund.

Hermes' marketing director Rob Page is leaving the firm to join Henderson Global Investors, Investment Week can reveal.

Barclays' investment banking chief Rich Ricci and wealth management head Tom Kalaris are to retire as the company restructures its senior management team.

Aviva is to reduce its staff numbers by 2,000 over the next six months - a 6% reduction of its global workforce.

Schroders has added a retail sterling share class to its offshore Global Multi-Asset Income fund, opening it up to retail investors for the first time.

BlackRock's Nick McLeod-Clark has stepped down from running the firm's £698m UK Income fund to take an extended period of leave to recover from poor health.