News

Former billionaire Allen Stanford, who stole $7bn from his investors in a Ponzi scheme, has been sentenced to 110 years in US courts.

Since its creation in 2008, the absolute return sector has been a bone of contention for intermediaries.

The UK Chancellor George Osborne and the Bank of England's governor Mervyn King have unveiled a £100bn package to prop up the UK's flagging economy and protect it from the encroaching eurozone crisis.

The Bank of England is to provide short-term sterling liquidity to the banking sector in anticipation of "market-wide stress of an exceptional nature" over the coming weeks.

A wide-ranging report from the Centre for Policy Studies has called on fund managers to provide an estimated annual return figure for clients to improve transparency.

The IFA label represents an "irretrievably damaged brand" and should be "consigned to history", according to a pensions report released today.

MAM Funds has renamed Martin Gray and James Sullivan's CF Miton Arcturus fund and is preparing to move it into the IMA's Absolute Return sector.

Skandia Investment Group (SIG) has handed US firm Wellington Management a £52m mandate within Francois Zagame's £1bn Skandia Global Dynamic Equity fund.

Investment Quorum's investment committee is looking to deploy cash piles into the markets on its model portfolios as it urges clients to "be brave" and embrace opportunities found in market volatility.

Investment boutique Polar Capital has hired two managers to launch a global equity fund in the company's first foray into the sector.