News

Old Mutual Wealth CEO Paul Feeney has dispelled worries about the effects of re-registration on the group's Skandia platform after it made a £2m profit, arguing rivals are behind the curve when it comes to facilitating electronic transfers.

Premier is planning to merge Chris White's £30m Premier UK Alpha Income fund into Chris Wright's £10m Premier European Optimum Income fund, which is undergoing a change in investment strategy.

M&G has hired Matthew Cable as deputy manager on its £370m Smaller Companies fund following a tough spell which has seen it drop down the rankings.

Gold has suffered the longest run of monthly falls since 1997 after the metal declined for the fifth month in a row in February.

The Financial Services Authority (FSA) has written to pension providers asking them for details of members' holdings in Harlequin Property, a UK based overseas property sales agent that is not regulated.

Investment trust veteran Douglas McDougall will step down as chairman of James Henderson's Law Debenture trust in April after 15 years of service.

Scottish Widows Investment Partnership (SWIP) has seen outflows of £6.6bn from the business in 2012, after investors opted to move out of its insurance products.

Rayner Spencer Mills' research directors Ken Rayner and Graham O'Neill have picked a selection of funds from the IMA sector universe which have seen a recent rebound in performance.

Banking shares dragged the UK's leading index lower in morning trading following results from Lloyds Banking Group which revealed a £570m loss for 2012.

Skandia, one of the UK's largest platforms, has reported a £2m profit in 2012 following a surge in funds under management.