News

Mark Lyttleton has built up short positions in Schroders and Aberdeen in his £2bn BlackRock UK Absolute Alpha fund.

The Debt Management Office has raised almost half of its bond sales target for this financial year in just four months on continued strong demand for gilts.

Fidelity has added a sterling share class to its Luxembourg-domiciled Emerging Asia fund.

The FTSE fell in early trading in reaction to losses on Wall Street overnight and a weak opening in European markets.

Interest rates will have to rise earlier and more sharply than expected to keep inflation under control, warn two former Bank of England policymakers.

Legal & General Investment Management (LGIM) posted a 32% increase in IFRS operating profit during the first half of 2010, with the group recording gross new business of £21.2bn.

L&G has reported its IFRS operating profits grew 34% to £542m for the first half of the year, helped by its strong investment and international arms.

The Lloyds Banking Group has returned to profitability after posting a £1.6bn before tax profit in the first half of the year.

Axa Wealth reported new business rose 45% to £1.9bn in the first half of 2010, helped by its Elevate wrap and a hike in the sales of personal pensions and offshore bonds.

BNY Mellon has launched a Dublin-domiciled version of James Harries' Newton Global Equity Higher Income fund - offering sterling, dollar and euro denominated share classes.