News

The start of 2013 has brought some new year cheer to equity investors, with the FTSE 100 set to record its best January for decades as stock markets around the globe continue to rise.

Concerns that UK equity valuations look overstretched are misplaced, according to Threadneedle head of UK equities Simon Brazier.

Assets under management in the UK funds industry reached a record £658bn in 2012 and, although fixed income dominated overall sales, equities ended the year as the best-selling asset class.

Aberdeen Asset Management's William Hemmings, head of closed-ended funds at the group, has joined the Association of Investment Companies (AIC) board.

RBS shares have continued a pullback that began in earnest earlier this week as the FTSE moved back below 6,300 in morning trading.

A former head of HM Revenue & Customs (HMRC) who stepped down after he was accused by MPs of lying has been hired by HSBC to advise on honesty, according to reports.

Natixis Global Asset Management has launched its first offering under a newly set up OEIC umbrella, the Loomis Sayles Strategic Income fund, as part of the group's plans to make more funds available to the UK retail market.

Tim Guinness has hiked his 2013 oil price forecast by 10% as he becomes less concerned about the prospect of oversupply in the coming years.

Terry Smith, manager of the Fundsmith Equity fund, has shared his surprise at the outperformance of the portfolio in 2012, saying he did not expect the fund to do so well in markets that have been flooded with liquidity by central banks.

The Financial Services Authority (FSA) has confirmed that Barclays, HSBC, Lloyds and RBS will start the full review of their sales of interest rate hedging products (IRHPs) to small businesses after a series of failings were uncovered.