News

The vast majority of advisers who risk-rated the Arch cru funds ranked them as either low, low-to-medium or medium risk investments, FSA figures suggest.

Advisers may be faced with an extra £33m in Financial Services Compensation Scheme (FSCS) levies as a result of firm failures caused by a proposed £100m FSA Arch cru redress scheme.

ARCH CRU

The Financial Services Authority (FSA) has launched a three-month consultation on establishing a £100m consumer redress scheme for Arch Cru investors.

Investec Asset Management has moved to close three of its African focused funds owing to a lack of client demand for the strategies.

Claire McGuckin has joined Kames Capital's fixed income team as an investment manager working alongside Phil Miburn.

Spain's economic malaise was confirmed this morning as GDP for the first quarter of the year showed a contraction of 0.3%.

Shares in Aberdeen Asset Management led the FTSE 100 leaders board this morning after the group saw profits climb 14%.

Goldman Sachs' Jim O'Neill has emerged as a surprise candidate to become the next governor of the Bank of England.

Alliance Trust Investments has poached SWIP bond manager Juan Valenzuela to head up a new fixed income fund.