News

RWC Partners is re-opening Ajay Gambhir's European Absolute Alpha fund after closing it last year.

Nabeel Mughal and Peter Kaye (pictured), co-managers of the £98m Melchior North American Opportunities fund, name their five most lucrative investments over the past five years.

July US employment figures have come in well ahead of economists' estimates, helping stave off fears of a new US recession, despite a small rise in the unemployment rate to 8.3%.

Mattioli Woods has launched its own in-house discretionary portfolio management service.

China is poised to take further policy action, according to Chia-Liang Lian, manager of the $754m (£486m) Legg Mason Western Asset Asian Opportunities fund, who has ruled out a steep drop in growth rates.

Ignis's Chris Bowie has said his newly launched Absolute Return Credit fund is positioned to cope with illiquid corporate bond markets and the potential for a price correction.

The FTSE 100 has added 1.4% in early trading as investors consign yesterday's ECB disappointment to the past and await today's US jobs data.

Net retail sales of funds of funds have exceeded £1bn for the first time in a year, according to IMA figures.

State-backed lender Royal Bank of Scotland (RBS) said today it had made a loss of £1.5bn in the first half of this year, after taking a near £3bn writedown on the value of its own debt.

Total assets on Axa's platform proposition Elevate grew by 49% to £4.3bn over the last year.