Woodford fund drops £31.2m from a single holding
Benevolent AI saw its share price drop from £7.01 to £3.42 per share
Companies
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IFA group Wren Sterling makes third acquisition of 2022
The deal adds £250m in AuM to Wren Sterling and strengthens presence in Warwickshire
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Terry Smith ditches two companies as he prepares to shut down Feet
Shares in the trust will still be tradeable on the LSE until a liquidator is named
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Succession Wealth buys Yorkshire-based IFA firm
It is the company’s first acquisition under Aviva ownership
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Franklin Templeton and Matthews Asia funds lose Square Mile ratings
While strategies run by Harry Nimmo and Richard Colwell are downgraded/suspended ahead of their retirements
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Hargreaves sharpens ESG pruning shears
As it sets up dedicated team of analysts to assess environmental, social and governance risks
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Weekly Outlook: Federal Reserve’s eagle eye on US jobs data
Key events for UK wealth managers for the week starting 3 October
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Quilter’s Wealthselect MPS backs fixed income but swerves gilts
Weighting to equities pared back as ‘further deterioration’ expected
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Arbuthnot Latham opens MPS to UK advisers
Lee Jones joins from Abrdn to spearhead the push as director of intermediary sales
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Assetco to return £7.5m to shareholders
Buyback programme will see nearly 15 million ordinary shares repurchased
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Jupiter downgraded to negative by Fitch
‘Its retail focus and smaller scale increase its vulnerability to net outflows versus peers’
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Board exodus as RBC acquisition of Brewin Dolphin completes
But Robin Beer remains at the helm of the wealth manager now known as RBC Brewin Dolphin