News

Marlborough has opened up Giles Hargreave's popular £640m Special Situations fund to offshore investors after launching a Guernsey-domiciled feeder fund providing access to the strategy.

J.P. Morgan Asset Management's Clare Hart is taking an underweight position in US consumer staples despite a strong run of performance.

A lack of further easing from the Japanese authorities coupled with fears over QE in Europe rattled markets today, sending the FTSE 100 to a seven-week low, with asset managers some of the biggest fallers.

Schroders has expanded its fixed income team with the appointment of Bogdan Popovici from US fund group Wellington Management.

National Savings & Investments (NS&I) is reducing the interest rates on its income bonds, Direct Saver and Direct ISA from September, in response to the ongoing low interest rate environment.

Gordon Grender, manager of the GAM North American Growth fund, is holding a fifth of his portfolio in cash as he struggles to find attractive valuations in the US market.

The Financial Conduct Authority (FCA) has fined Xcap Securities, a retail investment and capital markets business, £120,900 for failing to adequately protect client money and client assets.

The continued weakness of sterling against the US dollar has prompted fund buyers to move out of sterling-hedged share classes and into unhedged or dollar-denominated positions.

Japanese equities gave up nearly 200 points overnight as the Bank of Japan (BoJ) disappointed the market by opting to keep its monetary policy unchanged, failing to address concerns over bond market volatility.

Charles Stanley has reported an 8% increase in adjusted pre-tax profit for 2012-13 but lamented that an 'unfair' Financial Services Compensation Scheme levy knocked final figures.