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Investec and Morgan Stanley change ‘unfair’ structured product terms
Two structured product providers have agreed to change the terms on some of their products after the FSA deemed them to be “unfair”.
MPs back Arch cru legal battle
MPs George Galloway and Anne Begg backed IFA Centre’s legal case against Capita, but Guy Opperman warned investors may be better off accepting the compensation deal.
PIMS: Half a million people on advised platforms have seen no portfolio changes
The Platforum says around half a million people with assets on advised platforms have not had any changes to their accounts in the last three years.
PIMS: DFM not available for clients with less than £250k
Consultancy firm Asset Risk Consultants says true bespoke discretionary fund management is not available to clients with £250,000 or less to invest.
Transparency campaign group launches investment calculator
True and Fair Campaign calculator aims to show full cost of investments.
Vanguard launches four new ETFs
Vanguard announces launch of Irish-domiciled exchange traded funds.
Platforms rule out copying Standard Life's rebate tax move
Platforms say they will not follow Standard Life and pay clients’ rebate tax for 2013.
Aberdeen completes US fund manager acquisition
Aberdeen Asset Management has completed the deal to buy US fund management house Artio Global Investors.
Advisers and investors in line for Keydata payout
The FSCS will make initial distributions of 7.5p in the pound with total returns of between 12 and 15 per cent of the money invested.
Newton hires high yield analyst for global fixed income team
Newton has appointed Cairn Capital’s Khuram Sharih.
Fidelity's Greetham starts to trim commodity exposure
Fidelity asset allocation director Trevor Greetham has started to cut back on his commodity exposure in light of slowing growth expectations from China.
Inflation drops to better-than-expected 2.4%
Consumer prices index inflation dropped by more than expected during April as transport costs fell.
BlackRock extends real estate reach with MGPA acquisition
BlackRock claims to have become a “truly global real estate investment manager” after agreeing to acquire a property investment firm focused on Asia-Pacific and Europe.
Ashcourt Rowan outsources asset management admin to TD Wealth
Ashcourt Rowan Asset Management plans to outsource its portfolio, settlement and custody services to TD Wealth Institutional.
VCTs set to escape Ucis promotion ban
Regulator has moved from “considering” excluding venture capital trusts from the proposed ban to being “minded” to do so.
Treasury report: Independent Scotland could see advisers' regulatory costs soar
Treasury warns if Scotland is to break away from the rest of the UK it would need a separate financial services regulator.
Fidelity to restructure adviser sales team
Company says move has been triggered by the RDR and will see some roles scrapped.
Celebrities and footballers ‘victims of £125m film investment tax fraud’
A number of celebrities, bankers and football stars have been caught up in an alleged £125m tax fraud that revolved around film investments.
Cazenove shareholders approve £424m acquisition by Schroders
Cazenove Capital shareholders have approved a deal for the firm to be acquired by Schroders for £424m.
PIMS: DFM not available for clients with less than £250k
Consultancy firm Asset Risk Consultants says true bespoke discretionary fund management is not available to clients with £250,000 or less to invest.
PIMS: Half a million people on advised platforms have seen no portfolio changes
The Platforum says around half a million people with assets on advised platforms have not had any changes to their accounts in the last three years.
MPs back Arch cru legal battle
MPs George Galloway and Anne Begg backed IFA Centre’s legal case against Capita, but Guy Opperman warned investors may be better off accepting the compensation deal.
Cameron hints at RBS sale ahead of election
The prime minister has hinted he wants to sell off the Government’s stake in RBS by offering shares to voters ahead of the next election.
Skandia platform inflows drop 10%
Net inflows fell to £498m in the first quarter of the year.
F&C reports £1.5bn net outflow for Q1
Stronger retail flows were offset by strategic partner withdrawals.
First State to soft-close £4bn Global Emerging Markets Leaders fund
First State Investments plans to soft-close Jonathan Asante’s fund due to the size of the portfolio.
Rathbone sees unit trust AUM rise 11%
Rathbone Unit Trust Management increased its assets under management by 11 per cent to £1.4bn in Q1.
Jobs at risk as Alliance Trust Investments announces fund closures
Alliance Trust is set to close its North American Equity and European Equity funds at the end of June following a review of the business.
BoE's economic forecast predicts better growth and lower inflation
Governor Mervyn King leaves on a high note with his final quarterly inflation report.
Bond managers clash on surging hybrid debt market
Standard Life Investments and Rathbone ethical bond managers differ over the opportunities on offer in the growing hybrid bond market.
UK investors plan to pour more money into markets, Schroders finds
Over one-third of UK investors plan to channel more money into the markets over the coming 12 months, with equities appearing to be more favoured than bonds.
Government launches consultation on transferring CTFs to Jisas
The Government is consulting on allowing savings to be transferred from Child Trust Funds to Junior Isas.
Rathbone sees unit trust AUM rise 11%
Rathbone Unit Trust Management increased its assets under management by 11 per cent to £1.4bn in Q1.
Lyttleton arrested in insider trading probe - reports
Former BlackRock manager Mark Lyttleton was reportedly arrested last month on suspicion of insider trading.
CBI: UK economy 'moving from flat to growth'
The Confederation of British Industry is expecting the UK economy to grow by 1 per cent this year and 2 per cent in 2014.
First State to soft-close £4bn Global Emerging Markets Leaders fund
First State Investments plans to soft-close Jonathan Asante’s fund due to the size of the portfolio.
Pridham Report: Fund sales ‘disappointing’ in RDR aftermath
Fund inflows from retail investors were “disappointing” over the first quarter of the year although some asset managers were able to rack up healthy sales.
Lloyds chairman Sir Win Bischoff to step down
Bischoff says he has accomplished the task of stabilising the bank.
Martin Currie's Burnett departs for Lyxor Asset Management
Head of UK institutional and global consultant relations David Townsend is to replace Burnett.
Bestinvest looks to double assets to £10bn through acquisitions
Bestinvest chief executive Peter Hall says he would like to see assets more than double to £10bn by 2018.
