Inflation drops to 2.7% but ‘picture remains bleak’
The Consumer Prices Index (CPI) dropped to 2.7% in February, down from 3% the month before, setting inflation on a slow course towards the Bank of England’s 2% target.
News
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Aberdeen Standard strikes funds deal with Virgin Money
Aberdeen Standard Investments (ASI) has entered a strategic joint venture to provide asset management services for Virgin Money’s £3.7bn assets under management.
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Brexit transition deal leaves unanswered questions
The 21-month transition deal agreed between the UK and European Union is a welcome step but leaves unanswered questions regarding Brexit’s impact on UK businesses, industry figures have warned.
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Hermes to launch ESG credit fund
Hermes Investment Management is boosting its fixed income prowess with the launch of an unconstrained ESG credit fund later this year.
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Miton boss dismisses extending tiered fees to Oeics
Miton chief executive David Barron has dismissed extending tiered fees on investment trusts to the boutique manager’s open-ended range, arguing fixed ad valorem fees are easier to understand.
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Active equity has good year but suffers longer term
More than half of active UK equity funds outperformed last year, but three quarters underperformed over a 10-year period, according to S&P Dow Jones Indices (SPDJI).
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FCA: Third of closet trackers have made improvements
The FCA says a third of the 64 funds that came under fire for closet tracking have made improvements in an online update.
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Miton inflows recover from star manager exits
Miton’s latest annual results show sales at the boutique firm recovering in 2017 compared to the previous year, when the departure of star fund manager duo George Godber and Georgina Hamilton led to significant outflows.
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Harwood acquires Southampton-based IFA
Harwood Wealth Management has continued its buying spree with the purchase of Southampton-based IFA AE Financial Services from its parent company for £4.6m.
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Baillie Gifford: We expect to get some picks wrong on US trust
The Baillie Gifford US equities team expects to get some of its unquoted stock picks wrong for its upcoming trust but argues that only a small number of exceptional growth companies matter.
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JPMAM variable fee leaves room for further economies of scale
JP Morgan Asset Management’s decision to pass on some economies of scale through its operating expense fee is being welcomed as a step in the right direction, but asset managers should be re-examining their annual management charge in order to truly provide value for investors.
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Aviva Investors high yield manager exits for French firm
Axiom Alternative Investments has poached Aviva Investor’s Paul Gagey for the role of portfolio manager.
