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Legal and General to target gender gaps with shareholder votes

Legal and General Investment Management will use its shareholder power to target firms with poor records on gender balance. LGIM has already begun voting against all-male boards in the US, but will now take on the chairs of Ftse 350 companies in their 2018 annual general meetings if less than a quarter of their board […]

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Woodford drops out of IA Equity Income sector

Neil Woodford’s signature equity income fund is being moved out of the Investment Association’s Equity Income sector after failing to beat the FTSE All Share index over the past three years. Woodford Investment Management confirmed this morning that the Woodford Equity Income fund would be moving into the Investment Association All Companies sector. A fund […]

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FOS appoints independent reviewer after Channel 4 exposé

The Financial Ombudsman Service will be reviewed by an independent person following claims of poor staff training and alleged biases in its decisions that were exposed in a recent Channel 4 investigation. Treasury Committee chair Nicky Morgan wrote to FOS chief executive Caroline Wayman on 13 March asking for more information about the findings of […]

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BT Pension Scheme sells majority stake in Hermes

The BT Pension Scheme is selling its majority stake in Hermes. The deal worth £246m will see New York-based fund giant Federated Investors take control of the asset manager. BT Pension Scheme will retain a 30 per cent stake in Hermes, continuing to invest as a client. Hermes’s management will retain an interest of around […]

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