Long/short equity and macro hedge funds attracted the highest proportion of industry asset flows in May, gaining an aggregate $6.4bn as a result of the prevailing assumption the strong run in equity markets is to continue.
The European Central Bank may find it more difficult to overrule London on legislation affecting the City as a result of a tentative agreement made during discussion of the Markets in Financial Instruments Directive (Mifid).
Witan Investment Trust has replaced NewSmith Asset Management with Heronbridge Investment Management in a strategic move to add a greater value slant to the portfolio.
Axa Investment Managers is to commit 10bn to infrastructure debt in Europe over the next five years and has appointed Axa Real Estate to manage the investment.
Peter Toogood and Gill Hutchison have left Morningstar OBSR and are expected to shortly announce their new consultancy practice in the increasingly competitive investment outsourcing world.
Momentum Asset Management has launched its Factor Series and its Diversified Growth Fund on the Standard Life platform.
Mark Elliott is joining Franklin Templeton as head of advisory following a reshuffle of the firm’s UK sales team.
Source has made four of its ETFs available in GBP on the London Stock Exchange, bringing the firm’s total offering in sterling to 11 as demand for ETFs from UK investors continues to grow.
Matthew Evans has been appointed as UK small cap fund manager at Threadneedle marking the expansion of the firm’s UK equities teams.
Legal and General is undergoing a restructure which will see its unit and trust business become a part of Legal and General Investment Management (LGIM) and its annuities business spun out as a separate division.
Signia Wealth’s new head of wealth management, Rupert Robinson, has set his sights on more than doubling the firm’s AUM in the next five years, with the takeover of family offices pitted as one way of achieving his goal.
The Co-op has unveiled plans to tackle its £1.5bn deficit, offering bond holders shares in the bank as part of a “bail in” which will result in a stock market listing for the group.
