News

Global funds were the best selling portfolios in June, attracting record interest from investors, the Investment Management Association (IMA) said.

The Bank of England's Monetary Policy Committee (MPC) has left interest rates on hold at 0.5%.

Skandia has ditched Artemis' Jacob de Tusch-Lec from its £143m UK Best Ideas and £337m Global Best Ideas funds, in order to concentrate on running his Artemis Global Equity Income fund.

Royal Bank of Scotland is planning to axe 2,000 investment bankers' jobs over the next eighteen months, as it completes the integration of ABN Amro.

Banking and asset management giant Investec has confirmed it has made an offer for Williams de Broe owner Evolution Group.

A majority of leading economists polled by the BBC expect interest rates to remain unchanged until next year.

US markets yesterday managed to recover some of their losses from the previous seven days as better than expected jobs data boosted sentiment.

Franklin Templeton Investments has launched a global multi-asset product which makes use of the group's multi-manager capabilities and has the option to hedge markets on the downside.

Taxpayer-backed Lloyds Banking Group has posted a loss of £3.3bn in the first half as it was hit with claims for the mishandling of payment protection insurance (PPI).

AXA Wealth's net new business rose 18% to £1.1bn for the first half of 2011, with the group benefitting from last year's strategic review which lead to a focus on this part of the business.