News

Lucy Colback has joined Veritas to work on its Asian funds alongside Ezra Sun.

Markets across Europe fell at the start of trading as an earthquake measuring 5.1 on the Richter scale hit Spain and commodities were heavily sold off in the US.

Old Mutual Asset Managers' head of fixed income Stewart Cowley has slammed the US for failing to rein in its growing budget deficit, warning it risks ingraining inflation in the nation's psyche.

Allianz Global Investors is looking to launch a renminbi-denominated fixed income fund in the summer.

US hedge fund billionaire Raj Rajaratnam has been found guilty of making tens of millions of dollars from insider trading, the BBC reports.

Old Mutual saw a net outflow of £2.6bn in the first quarter of the year, although assets under management edged up and Skandia saw growth in new business volumes.

Sterling jumped across the board after the Bank of England's latest report said inflation is likely to remain above target for longer, fuelling expectations the MPC will act sooner to tackle price rises.

Barings has recruited Wilfred Sit to fill the newly-created role of chief investment officer for the Asian business, four years after he left the group.

The UK could fall back into recession at the end of this year, as high oil prices and the impact of the Japan earthquake weigh on global economic growth, said Fidelity's Trevor Greetham.

Schroders has unveiled an ISF Euro Credit Duration Hedged fund for head of UK and European credit strategies Adam Cordery.