News

Castlestone Management has suspended subscriptions on three of its Dublin-domiciled funds following an order by the Central Bank of Ireland.

Ignis Asset Management's sales and marketing director Jonathan Polin is leaving the business at the end of July to pursue other interests.

Moody's has cut its credit rating of Greece by three notches, placing it deeper into the junk category, on concerns it will not be able to stabilise its debt pile.

Woeful economic data in the US and a three notch downgrade of Greece's credit rating saw global markets tumble overnight.

Standard Life Investments has pushed back the soft-closure of Harry Nimmo's £1.1.bn UK Smaller Companies fund to the end of August, after initially planning to cap the fund on 27 June.

The shortlists have been published for the group of the year awards and the specialist investment categories at the annual Investment Week Fund Manager of the Year Awards, in conjunction with FundsNetwork.

Sarasin & Partners has added an ethical portfolio to its EquiSar range of thematic funds.

Neil Woodford is poised to increase the limit on overseas investments in his £940m Edinburgh investment trust to 20%, as the manager continues to find better income opportunities outside of the UK.

The Bank of England should raise interest rates by 0.5% in February next year, as the month will be a "window of opportunity" for policy change, said Stuart Thomson at Ignis.

Sterling tumbled a cent against the dollar earlier today on surprise news Britain's manufacturing sector grew at its slowest rate for two years in May, sparking fresh fears about the economic recovery.