News

Cadbury shares have bucked a poor start to FTSE 100 trading this morning, climbing over 3% on news it has agreed a £11.5bn takeover bid by Kraft.

Cadbury is poised to be taken over by US food conglomerate Kraft after its board approved a new increased bid.

GAM has hired from rival Cantillon Capital Management to build its long-only European equities team.

Gartmore plans to launch a pan-European long/short fund for John Bennett.

HSBC has launched sterling retail and institutional share classes on its Ucits AdvantEdge fund of hedge funds.

Peter Hollis, head of the European equity team and a partner at Baillie Gifford, is leaving the company in April 2011.

Newton Investment Management is renaming its Equity & Bond fund and lowering its equity exposure.

Schroders CIO Alan Brown has joined the IMA board following a number of changes at the trade association.

Henderson will re-open its suspended New Star International Property fund on 12 February.

Invesco Perpetual and M&G have pledged to invest £95m in a new UK bank launch, according to The Daily Telegraph.