News

Skandia has bought a £19m stake in the Liontrust Credit Absolute Return fund, spreading the investment across a number of portfolios.

A vehicle linked to hedge fund manager John Zwaanstra, a former protégé of George Soros, has emerged as the mystery buyer of a 5% stake in Gartmore.

The decision to cut Ross Hollyman's global equity team, which ran less than $1m of internal money, has cost boutique manager Liontrust £781,000.

The board of the Lowland investment trust, run by Henderson's James Henderson, has introduced a performance fee on the vehicle.

Tony Maddock, the head of wholesale at SWIP, is moving to Lazard Asset Management to lead the group's third party distribution.

The FTSE 100 has fallen 1.2% this afternoon as eurozone debt fears and reports of hostilities between North and South Korea continued to dent investor sentiment.

FSA chairman Adair Turner says Britain's banks are not disturbingly exposed to Irish banks or Irish government bonds.

Dan Waters is to step down from his role as director of conduct risk and asset management sector leader, with Christina Sinclair taking over on an interim basis.

The US economy grew at 2.5% in the third quarter, a faster rate than previously estimated.

The RDR is not a 'panacea' for the investment market's problem but it is worth a third of IFAs leaving the industry, FSA chief executive Hector Sants has told ministers.