Ex-Martin Currie sales manager Fergus McCarthy has joined Investec Asset Management in a new role as sales director, UK strategic partnerships, as the company aims to tap into post-RDR opportunities with both IFAs and restricted advisers.
Duncan Lawrie Private Bank continues its expansion with the hire of Jeff Durant to run its southwest England operation.
Nomura has paired with hedge fund firm Permal to launch a Japanese equity market neutral fund designed to generate absolute returns with low correlation to major Japanese equity markets.
Walker Crips Group has sold out of Liontrust, cashing in further on the disposal of its asset management business earlier this year, while Liontrust director Jonathan Hughes-Morgan has boosted his share in the company by 25%.
Hopes for more quantitative easing in the near future saw equity funds post back-to-back weekly inflows for the first time since Mid-March, as redemptions from US investment grade bond funds hit a 13-week high.
A strong first quarter of sales saw assets under administration at Cofunds reach £40bn as the firm has targeted advisers looking for a smooth transition to RDR-compliant business models.
JP Morgan Asset Management has announced the intention to combine its multi-asset capabilities across its investment management and private banking businesses into a new group called Asset Management Solutions.
Ignis Asset Management’s head of UK retail Austin McBride is taking on the discretionary account responsibilities of Alisdair Bell who is leaving the company.
Moody’s has downgraded the ratings of 15 global banks due to their significant exposure to volatility and the risk of outsized losses inherent to capital markets activities.
Bryan Collings, lead manager of the Hexam Global Emerging Markets strategy, says while his fund has been slammed in the past year he is sticking to his high-conviction guns because with $1.3bn in AUM “he better be right”.
Rob Swan has joined Neuberger Berman as its new head of international marketing.
Barclays is to introduce a sterling share class of its commodity-based absolute return Capital Combats Fund into the UK.
