News

Non-executive director at Hargreaves Lansdown Jonathan Davis will join the ABI as director of investment affairs in the new year.

The £300m Electric & General Investment trust, which opened in 1890, is winding-up after failing to shrink its persistent discount.

Economists are urging caution on the impact of the coalition government's deficit reduction plans, despite upwardly revised growth forecasts from the Office for Budget Responsibility (OBR).

Henderson Global Investors is understood to be weighing up a takeover bid for stricken rival Gartmore.

Banks led the FTSE 100 index 0.6% higher in early trading to 5,704.96 as investors showed their relief after Ireland agreed an €85bn (£72.5bn) rescue package.

The manager of the £41m Marlborough UK Leading Companies fund has taken small-cap exposure to its highest level since 2007, attracted by growth prospects and exposure to emerging markets.

Franklin Templeton plans to move Mark Mobius' £847m China fund into the newly-created IMA China/Greater China sector next year.

Schroders is planning to create a multi-manager product based on its popular Income Maximiser range, which would offer investors a 7% yield and monthly income distribution.

Investec Asset Management, which runs $5bn of emerging market debt assets, is launching a blended local currency and hard currency EMD strategy.

Skandia Investment Group's François Zagamé is keeping his conviction in Gartmore's Chris Palmer, retaining an £80m mandate with the manager within his £1bn Global Dynamic Equity fund.