News

UK banking shares dragged the FTSE 100 lower this morning as sentiment struggled following J.P. Morgan's revelation that it lost $2bn in a trade which went awry.

Standard Life will roll out RDR-friendly charging structures across its key retail product lines this year, in a move which will see the provider pass fund manager rebates back to new clients on its fund supermarket, FundZone.

Bestinvest has undergone a structural review of the business which could result in job losses.

SWIP has joined the growing number of asset managers offering RDR-ready share classes by launching a lower-cost share class for its £38m Diversified Assets fund.

Shares in JPMorgan Chase fell almost 7% in after hours trading on Wall Street on Thursday after it revealed a surprise $2bn derivatives trading loss by a London trader.

Neil Woodford's heavy overweight pharmaceutical position on the Invesco Perpetual Income fund dragged the portfolio into the bottom quartile during the first three months of the year.

Kames Capital's David Roberts has added "disaster insurance" to the £510m Strategic Bond fund on doubts the markets will be able to function smoothly over the summer.

The Financial Services Authority (FSA) has fined Martin Currie Investment Management Limited and Martin Currie Inc £3.5m for failing to manage a conflict of interest between two of its clients.

BlackRock has promoted Ben Edwards to co-manage its Corporate Bond fund alongside Simon Blundell.

Standard & Poor's has said a ‘perfect storm' may be brewing in corporate credit markets if a global economic downturn combines with credit rationing to thwart corporations' $46trn refinancing needs.