News

The Monetary Policy Committee should have started raising the base interest rate last summer to combat inflation and must look to hike rates as soon as possible, said Henderson's Simon Ward.

Invesco Perpetual managers Paul Causer and Paul Read have trimmed high yield and credit exposure in favour of government bonds, including Spanish government debt, on their £3.2bn Monthly Income Plus fund.

Gold has risen to hit a record $1,498.90 an ounce, with demand fuelled by a declining dollar and concerns following S&P's outlook downgrade for the US.

The FTSE clawed back some of yesterday's losses in early trading despite losses in the US following Standard & Poor's downgrade.

Shares in Hargreaves Lansdown rose in early trading after it gathered a record £1.16bn of net new assets during a quarter which saw it enter the FTSE 100 for the first time.

Polar Capital's assets under management in long only funds grew by $449m (£274m) in Q1, while AUM more than doubled at the firm in the last year.

Investors have said it is unlikely a full-blown downgrade of the US will take place in the next few years following yesterday's move by S&P.

Standard & Poor's has cut its outlook for the US from stable to negative, causing the dollar and shares to tumble.

Investec Asset Management has launched the GSF Emerging Markets Equity fund for Archie Hart.

Fidelity's Anthony Bolton has warned China's property sector faces major headwinds in the second half of 2011.