News

Axa Wealth has appointed Skandia's former head of proposition Graham Bentley as its interim head of fund group relations.

Funds with heavy exposure to financials are at the bottom of the IMA China sector over six months, as China's banking reforms caused a savage sell-off in financial stocks.

The Financial Conduct Authority (FCA) has confirmed its levy for the coming year will be £432.1m, with financial advisers contributing 9% of the total.

BlackRock has launched its first UK domiciled fund investing in Asian equities for manager Andrew Swan, head of its Asian fundamental equities team.

Blackrock has completed the purchase of Credit Suisse's ETF business as part of an expansion into the Swiss market.

The FTSE 100 started the second half of the year positively after promising Asian numbers were followed up by a strong showing from the UK's own manufacturing sector.

GLG is to launch a global total return fund targeting LIBOR + 5% after expanding its macro investment team.

Polar Capital has completed the initial public offering for its Global Financials investment trust, raising £153m in the process.

The government has formally started the process of offloading its stakes in Royal Bank of Scotland (RBS) and Lloyds by launching a tender for the banks' share sale, according to reports.

This week has seen further volatile moves in markets - particularly within fixed income as investors unwind positions in government and emerging debt - while Chinese equities also hit the headlines on fears of a slowdown in the country.