ONS revises down UK GDP on spending slump
The ONS has revised its UK GDP growth estimate for the first quarter, down from 0.3% to 0.2%.
News
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Asset managers ‘subsidising’ own funds as fee pressures bite
Asset managers have been forced to subsidise their own funds in order to keep fees low despite soaring costs, research from Fitz Partners has revealed.
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China’s credit downgrade could ‘reawaken risk’
While Moody’s Investor Service’s decision to downgrade China for the first time since 1989 didn’t move markets massively, some investors fear that it could dredge up negative sentiment.
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Neptune’s Cassell promoted on two UK funds
Neptune Investment Management’s Holly Cassell has been promoted to co-fund manager of the firm’s UK Opportunities Fund and deputy manager of its UK Mid Cap Fund.
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BNP Paribas IP reveals new name and ‘ambitious’ growth plan
BNP Paribas Investment Partners is set to undergo an “ambitious transformation” over the next three years with a rebrand and expansion plan in the pipeline.
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Analysts split on M&S’s prospects after plunge in profits
In light of Marks & Spencer’s full-year decline in profits, analysts are mixed on just how steep the group’s uphill battle will be and whether its revamp will have the desired effect.
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Fund fraudsters fined £2m after FCA investigation
A long-running FCA investigation has finally ended after eight men were convicted and fined more than £2m for running an unauthorised fund.
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Fidelity’s Rossi steps down from CIO role
Fidelity International’s Dominic Rossi will step back from his role as CIO after a decade in the post.
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HICL posts positive results; proposes £205m share issue
HICL Infrastructure Company’s NAV per share climbed 4.8% in the year to 31 March, to 149p, while the board today announced a proposal to raise £205m through an issue of ordinary shares by tap issuance.
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Asset managers doubt future of ethical investing as costs rise
A new global survey of asset managers has revealed more than a quarter believe the cost of ethical investing will soar in the coming years.
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Turnill: Record low volatility sign to take on equity risk
BlackRock’s chief investment strategist has said now is the time for equity investors to take on risk and dismissed fears of a sudden spike in market volatility.
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Morningstar downgrades Burdett and Potter funds
Ratings agency Morningstar have bumped two F&C Multi-manager funds down their rankings, citing high charges as a “drag” on outperformance.
