News

Legg Mason Capital Management's US fund manager Mary Chris Gay has exited the firm, Investment Week can reveal.

Aberdeen Asset Management has completed a deal to buy US asset manager Artio Global Investors for £118.3m ($179.7m)

The vast majority of UK smaller companies funds have failed to produce significant alpha for investors over the past year, with the average fund's return lagging one benchmark index by ten percentage points.

T. Rowe Price has hired Arif Husain, director of European fixed income and UK and portfolio management at AllianceBernstein, as its new head of international fixed income.

Fund managers can expect the axe from discretionary fund managers (DFMs) if they fail to perform within the first 12 months of being granted a mandate, according to research by Coredata.

Andrew Bell, chairman of the Association of Investment Companies (AIC), has warned many boards have not moved quickly enough to reduce charges on their investment trusts.

Close Brothers has suspended redemptions on Deryck Noble-Nesbitt's Special Situations fund ahead of an expected wind-up of the portfolio in August this year.

Investors should snap up Western bank debt for yield, said RBC Wealth Management's head of fixed income Hakan Enoksson.

UK CPI inflation has fallen to 2.4% in April, a larger-than-expected drop from the 2.8% figure recorded in March.

Plans to allow platforms to negotiate individual terms with fund groups could cost the industry millions of pounds, asset management giant M&G has warned.