News

European ministers' decision to agree a bailout for Spain's banking sector at the weekend has boosted markets, but managers remain cautious on the the extent to which it will solve the eurozone's long-term problems.

Smith & Williamson Investment Management has promoted Robert Royle to co-manager of the group's £82m North American trust, alongside Lady Tana Focke.

Equity markets are stuck in a ‘www. cycle' which cannot end until major headwinds such as the eurozone crisis and countries' debt levels are tackled, according to Cazenove's Julie Dean.

Europe's major markets climbed on the first day of trading after Spain was granted a €100bn bailout for its banking sector over the weekend.

Oil futures have risen to a five-month high on hopes of stronger demand for fuel following the announcement of the Spanish bailout.

Bankers have told Chancellor George Osborne any move by the government to protect savers in the event of a bank collapse would force them to increase borrowing costs.

Natixis Global Asset Management is launching onshore mirrors of up to five funds from its affiliated partners including Loomis Sayles and AlphaSimplex.

Vince Cable is understood to be reconsidering a hard-hitting proposal that would see chief executives face an annual binding vote on their pay and bonuses.

INSYNERGY Investment Management is shutting down its fund range just four years after setting up, as pressure grows in the industry for competitiveness on fees ahead of RDR.

Marlborough's top performing small-cap manager Giles Hargreave has reduced his cash weighting from 10% to 5% to snap up shares trading at distressed valuations.