FCA spares dealing and portfolio services from PRIIPs requirements
The FCA has said investment dealing, portfolio management and custody services will not fall under major new EU disclosure rules.
News
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Aberdeen outflows respite put down to currency moves
Aberdeen Asset Management has said its outflows slowed in the second quarter to £2.5bn, but analysts said they doubt this reflects a true change in client sentiment.
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Former Towry head to aid wealth management expansion at Brown Shipley
Brown Shipley has appointed Michael Pos to a newly created role as head of product and proposition as it looks to expand its wealth management operation.
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Schroders launches fund to defy short-term market moves
Schroders has launched a multi-asset fund for Johanna Kyrklund designed to weather potential storms in equity and bond markets.
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VIX ‘fear index’ hits lowest level since 2007
An index said to represent levels of fear on the markets has hit its lowest levels since before the eruption of the credit crunch after trending lower in recent weeks.
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US growth drops to weakest in three years
US real GDP increased at an annual rate of 0.7% in the first quarter, the slowest pace since the first quarter of 2014.
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Waverton: Massive ETF flows ‘distorting emerging markets’
Rapid inflows into emerging-market ETFs have distorted Asian markets, according to Waverton Invesment Management’s Brook Tellwright.
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India and China trusts best performers in first quarter
Recoveries in the Indian and Chinese stock markets were key drivers of investment company performance in the first quarter, a report from QuotedData shows.
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Barclays suffers share price ‘malaise’ while RBS returns to profit
Barclays’ shares were down substantially this morning despite the fact its profits doubled in the first quarter, but the market was more receptive of RBS’s return to profits.
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OMGI launches high-risk portfolio amid funds rebrand
Old Mutual Global Investors will launch a new portfolio this summer after a rebrand of its Spectrum fund range to the ‘Creation Portfolios’.
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UBS back in profit as wealth management offering grows
Wealth management at UBS helped push a bounce-back in fortunes for the Swiss bank with profits up 42% in the first three months of 2017.
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UK economic growth weaker as inflation hits services
The UK economy grew at a lower-than-expected 0.3% year-on-year in the first quarter as inflation dented the services sector.
