News

The UK is officially back in recession as preliminary figures show the economy contracted 0.2% in Q1.

A rally in tech shares led to Asian markets climbing overnight, after Apple's revealed it doubled last quarter's earnings.

Standard Life Investments (SLI) increased assets under management in its third party business to a record level of £76.1bn in Q1, as a result of demand for fixed income and GARS, as well as positive market movements.

Apple has seen its quarterly profit almost double, rocketing past analysts' forecasts and allaying fears of limited future sales of the iPhone.

The IMA's review of the Absolute Return sector may end up dividing it into three sub-sectors, according to Gordon Davidson, chair of the IMA Sector Committee.

Jupiter's Merlin multi-managers have added Phil Milburn (pictured) and Melanie Mitchell's Kames High Yield Bond fund to their £3.5bn Income and £1.3bn Balanced portfolios.

Austin Forey, manager of J.P. Morgan's £1bn Emerging Markets fund, reveals five of his top stock ideas from across his developing market universe.

MULTI-MANAGER

US markets gained some ground this afternoon ahead of consumer confidence and home sales data, following a sell-off in Europe yesterday.

Credit Suisse's Luca Paolini has joined Pictet Asset Management as chief strategist.