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Swip hands over UK mandates to Clunie

Scottish Widows Investment Partnership has passed on the management of the £280m UK select growth fund and £124m UK opportunities fund to manager James Clunie.

The funds were previously managed by Swip head of UK equities Peter Cockburn. Clunie already runs the £18m UK flexible strategy fund.

Swip refused to comment on whether Cockburn is leaving the firm.

Last week, Scottish Widows Investment Partnership announced it was cutting 23 roles as it moves to reposition its £54bn equities’ business.

It is cutting its investment team of 38 to 15 managers as part of a move to focus on lower-risk strategies. Under the new model, there will no longer be a UK desk and a global team will focus on active strategies alongside a quantitative team, where all rebalancing decisions will be made electronically.



UK economy ‘will stall until 2013’, says think tank

The UK economy has avoided a double-dip recession but is likely to stall for the rest of 2012, according to the latest forecast from the Ernst & Young ITEM Club. The independent think tank says emergency monetary policy action from the Bank of England, the European Central Bank and the US Federal Reserve has allowed […]

MoJ shuts one in five chasers

The Ministry of Justice has closed around one in five claim management companies in the last year and almost doubled the number of MoJ staff responsible for regulating claim firms. A freedom of information request submitted by the Law Society Gazette found the MoJ’s Claims Management Regulation department cancelled the authorisation of 734 claim firms […]


FSA staff exodus gathers pace

The FSA has seen a 30 per cent surge in the number of staff leaving ahead of the new twin peaks regulatory model, with 430 permanent employees quitting last year. A freedom of information request, submitted by Money Marketing, shows the number of staff leaving the FSA rose from 330 in 2010 to 430 in […]


IMA: We need a fairer compensation scheme (not the reverse)

The FSA is about to take on a very important task – reforming the funding arrangements for the Financial Services Compensation Scheme.  This scheme pays consumers when a firm goes into default owing them money.  It is the industry that foots the bill for the Scheme’s compensation payments – so the key questions are who […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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