News

Markets look set for another day of falls as investors fear sovereign debt problems in the US and eurozone could prompt another global crisis.

Raings agency Fitch has branded European Absolute Return (AR) funds "prone to performace disappointment" and "mis-selling" to unsophisticated investors.

Anthony Bolton has said he will learn from his mistakes after his Fidelity China Special Situations fund invested in US-listed Chinese companies accused of fraud.

GAM has launched the GAM Star Global Quality fund, a product focusing on developed market equities.

F&C may be forced to make a multi-million pound payout after it lost a case against two founding partners of its fund of hedge funds business.

Aberdeen's multi-managers have cut cash weightings in their portfolios by as much as two-thirds in anticipation of an improved economic environment.

Rathbones is set to launch an Enhanced Growth portfolio for head of multi-asset investments David Coombs on 1 August.

Steven Mendel, head of wealth management at Close Asset Management, is to leave the firm at the end of this week.

Gold hit a further record high yesterday afternoon as Ben Bernanke said the Federal Reserve was prepared for QE3 while increasing risk of contagion in the eurozone worried investors.

Fitch has downgraded Greece to CCC status, one notch above default, due to growing concerns private investors do not want to participate in any bailout of the country.