Funds Financial News

Royal London Short Money Market first took the top spot in October 2023, where it remains, while the £22.7bn Terry Smith fund has since been further overtaken by L&G Global Technology Index and Vanguard LifeStrategy 80% Equity.

The report also revealed that the majority of active funds in the universe had outperformed their benchmarks and peer groups over the long term.

UK equity funds continued to experience the heaviest outflows of any region, with investors redeeming £1.3bn over the month.

The fund has an investable universe of more than ten sovereign and quasi-sovereign issuers and over 500 corporates across 15 countries.

The inflows follow six months of net selling for equity funds, which lost £4.5bn between May and October 2023.

CEO Ian Simm (pictured) told Investment Week about the firm’s plans to launch a social themes equity strategy earlier this year.

The Article 8 fund will be managed by George Cooke, Montanaro's head of fund management.

Investors in trusts returned to a familiar favourite in Scottish Mortgage, which reclaimed the head of the rankings after being knocked into second place last month by City of London

Bitcoin has broken above $40,000 for the first time this year as it rides a wave of momentum on broad enthusiasm about U.S. interest rate cuts and as traders anticipate the imminent approval of U.S.-stockmarket traded bitcoin funds. The world's biggest currency hit as high as $40,210 in Sunday trade, its highest since April 2022. It was steady at $40,011 in thin trade early in the Asia day on Monday. «We'll see if it sticks throughout the day, but bitcoin loves a break of big psychological levels, so it excites the bit-bugs again and adds to this momentum,» said Capital.com analyst Kyle Rodda. For the year, bitcoin has more than doubled as it has thrown off the doldrums of the so-called «crypto winter» that followed scandals including the collapse of exchange FTX last year.

Charlie White-Thomson (pictured) is CEO of Saxo.

Fidelity manager Eugene Philalithis is set to retire at the end of March 2024.

According to Morningstar Direct, MS INVF China Equity reached a peak in assets under management of £12.2m in January 2021.

Jupiter said Gosden and Morrison will also assume the management of the £1.5bn Jupiter Income trust, currently managed by Ben Whitmore.

Investors lost more value in focused funds such as those tracking the Morningstar broad themes technology or physical world, compared with more diversified broad thematic peers.

The Fashion Engagement Equities Strategy focuses on generating attractive long-term investment returns, while engaging with companies in the portfolio.

The CCLA Better World Global Equity and VT Tyndall Real Income funds were both awarded Elite Radar badges, which makes the funds potential candidates for a full Elite Rating in the future.

A spokesperson for Baillie Gifford said that as these schemes have matured investors have sold out of the fund “leading to a decrease in its AUM”.

The Aviva Investors UK Listed Equity Income fund saw its rating scrapped after the departure of its co-manager James Balfour.

As of the date of the closure, Global Infrastructure held less than £850,000 in assets, while Global Equity Income held £2.1m.

BlackRock’s best seller throughout the quarter was the iShares North American Equity Index, which attracted record inflows from retail investors.

The fund will be managed by global value equity chief investment officer Kevin Toney, senior portfolio manager Michael Liss and portfolio manager David Byrns.