News

Ashmore Investment Management has expanded its SICAV range with the launch of an emerging market equity fund.

Shares in Lloyds Banking Group have dropped by 5% after the company announced CEO Antonio Horta-Osorio was taking a temporary leave of absence.

The FSA has issued further guidance for structured product firms after identifying weaknesses in the way providers design and approve the products.

The UK economy will avoid a double dip recession but a new round of quantitative easing could be on the cards, according to fund managers.

THE EUROPEAN CRISIS EXPLAINED

The Dow Jones shed almost 300 points in yesterday's session with sentiment knocked following Greek plans to hold a referendum on the European bailout plan agreed last week.

Royal London Asset Management's(RLAM) net new business fell 66% to £218m for the nine months to 30 September 2011, as market volatility took its toll on sales.

Financial services group St James's Place (SJP) recorded a 13% increase in sales to £154m in the third quarter, it said today.

Standard Life Investments'(SLI) third party net flows were £3.5bn for the first nine months of 2011 as sales into funds including the GARS range remained buoyant.

The chief executive officer of part-nationalised British lender Lloyds Banking Group, Antonio Horta-Osorio, is taking a leave of absence for health reasons, a source with knowledge of the matter said according to reports.