News

MPs LABEL RDR A 'FIASCO'

HENDRY SLAMS HARGREAVES

Legg Mason's veteran US manager Bill Miller is "deadwood" following prolonged underperformance, says Chelsea Financial Services.

Edinburgh Partners founder Graham Campbell is becoming CEO of Saracen Fund Managers and will take a significant equity stake in the boutique.

BlueBay chief executive Hugh Willis and CIO Mark Poole will each receive £81.9m for their 8.5% stakes in the company, which is set to be acquired by RBC.

Jupiter has recorded a £484m net inflow into its mutual fund range in the third quarter.

Jupiter is preparing to launch a Global Emerging Markets fund for Kathryn Langridge, which will run with two-thirds of its assets in small and mid caps.

BERKSHIRE: A 'DUMB' BUY

US banking giant Citigroup reported a quarterly net profit of $2.2bn in Q3, a 6% fall from the previous quarter but still ahead of expectations.

Former Bank of England policymaker David Blanchflower has warned the upcoming fiscal spending cuts could send the UK economy back into recession.