News

Verona Smith, marketing director of Cofunds, is to join The Platforum after exiting the fund supermarket in the wake of its takeover by Legal & General.

Invesco Perpetual's Neil Woodford, manager of the group's £25bn suite of UK income products, has described his heavy underweight position to the mining sector as one of the biggest drivers behind his outperformance over the past year.

A former KPMG senior partner has pleaded guilty to insider trading.

Crispin Henderson, the former CEO of Threadneedle who stepped back from the role in March, is to retire from the industry at the end of the week.

Wealth manager Brewin Dolphin is planning a £40m capital raising through a share placing, as it sees pre-tax profits almost halve in the six months to March.

CROWDFUNDING

UK equity income managers are selling out of defensive stocks which have led the global equity rally year-to-date, warning they are approaching bubble territory.

Ian Spreadbury's £3.5bn Fidelity MoneyBuilder Income fund has widened its remit to allow the manager to buy non-sterling corporate debt in a move to boost liquidity and performance.

The FTSE 100 index has shrugged off the heavy falls seen at the end of last week to resume its upward trend in early trading this morning.

BlackRock has hired Daniel Whitestone from UBS to bolster its UK small- and mid-cap equities team.