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Red alert on Barclays’ cash vote

The Association of British Insurers’ institutional voting information service has put the Barclays forthcoming capital-raising vote on red alert. The group, which represents many of Barclays’ biggest shareholders, says there are “grave concerns” over the £7bn fund-raising from Middle East investors.

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Passive aggressive

Adviser Fund Index panellists cut the British equity weighting in the Aggressive index by 7 per cent at the latest rebalancing. The allocation fell from 35 per cent to just 28 per cent on November 1, despite the addition of several British funds, including Cazenove UK Absolute Target.

Inflation drops to 4.5%

Inflation dropped to 4.5 per cent in October, down from 5.2 per cent in September, a larger than expected drop.

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