News

The FSA is contemplating a u-turn in how it supervises the retail market as retail MD Jon Pain says it will have an ‘open mind' on regulating products in the future.

Fidelity is set to complete the final phase of its multi-manager fund rationalisation, which will result in the closure of its FundsNetwork PortfolioManager range.

Veritas Asset Management is launching a long/short China fund at the start of October.

Top UK stocks drifted lower in a quiet start to the session as investors locked in gains after the FTSE reached a new 12-month high before the weekend.

Royal Bank of Scotland is to consider a £3bn-£4bn share issue to reduce the stake it would hand to the government for joining its toxic assets insurance scheme and has approached its biggest investors about the idea, the FT reports.

The Dow Jones opened higher in early trading on Friday with Procter & Gamble heading up the winner's table.

Henderson's Bill McQuaker, Schroders' Andrew Yeadon and Sarasin's David Vickers have been selected to run funds for IFA Foster Denovo's new investment company, Sequel.

The FTSE 100 slipped slightly this morning after Wall Street's recent rally stalled overnight.

Lloyds Banking Group, the part-nationalised banking group, confirmed today that it has gone into talks with the Treasury about changing the terms of its participation in the Government's insurance scheme for toxic assets.

The Dow Jones is flat in early trading on concerns the market revival may be outpacing the real rate of recovery.