News

Miton's managing director Gervais Williams is to take over the management of the Henderson Fledgling investment trust he ran for almost a decade at Gartmore, ahead of a planned merger with his £127m Diverse Income trust.

Lord Myners, the former City Minister, has condemned lobbying of the government by the financial services industry, which has made fund managers rich at the expense of companies.

A group of MPs has criticised government attempts to stimulate the economy, including quantitative easing, for being "expensive experiments".

Schroders has promoted Karl Dasher to head of North America, replacing Jamie Dorrien-Smith who is retiring in July after 19 years of service at the firm.

UBS is reviewing the future of its underperforming UK Smaller Companies fund, managed by Frank Manduca (pictured).

JO Hambro Capital Management (JOHCM) has outlined plans to launch a global ex US small-cap equities strategy for new hire Robert Cresci.

The Financial Services Authority (FSA) has clarified that advisers who only advise on passive investments do not meet the requirements needed to call themselves independent.

Managers are setting up portfolios for a pull-back in equity markets, looking at put options and moving more defensive as several indicators post sell signals.

Warren Buffett's Berkshire Hathaway has agreed to buy Heinz for $23bn, a 20% premium to yesterday's closing share price.

Hedge fund veteran George Soros has made $1bn betting against the yen since November, profiting from the Bank of Japan (BoJ)'s moves to weaken its currency.