News

Sterling has risen to a seven-month high against the dollar after the UK's unemployment rate unexpectedly dipped from 7.8% to 7.7%.

Absolute return providers have been forced to respond to capacity questions by changing fund remits or even soft-closing vehicles as flows into the sector leap this year.

The Financial Conduct Authority (FCA) has confirmed for the first time it has joined an international probe into the alleged rigging of the multi-trillion dollar interest rate derivatives market.

Shares in taxpayer-backed Lloyds Banking Group soared to a five-year high yesterday amid speculation the government is poised to start selling its stake.

This summer has been "a baptism of fire" for Standard Life Investments' £18.5bn Global Absolute Return Strategies(GARS)fund, according to strategist Andy Ford.

Brooks Macdonald, the AIM-listed wealth management group, reported pre-tax profits were up 22% for the year ending June 2013, although it warned of future pressures on margins.

A senior European Central Bank(ECB)policymaker has issued a fresh warning the impact of the US Federal Reserve reducing its massive stimulus programme might exceed that of 1994.

The board of the Aberdeen All Asia investment trust plans to change the mandate of the vehicle to Japan-only and raise additional equity.

Former Skandia senior portfolio manager Ryan Hughes is to join Apollo Multi Asset Management, Investment Week can reveal.

Nordea's new North American All Cap fund has left competitors in the shadows in the last year, outperforming many rivals in the IMA North America sector thanks to the performance of some key holdings.