On the first anniversary of the collapse of Lehman Brothers, fund management groups agree it was the "erroneous" decision to let the investment bank fail which almost crippled the global financial system.

Multi-managers believe the equity rally still has further to go despite the strong recent run pushing markets towards pre-Lehman levels.

Former Fidelity multi-manager head Simon Ellis is joining Legal & General Investment Management (LGIM) as managing director for retail business, Professional Adviser understands.

Henderson New Star will launch its European Special Situations fund for Richard Pease on 1 October.

SEI, the investment solutions provider, has appointed former Maia Capital founder Jason Collins as its head of UK and European equities.

Invesco Perpetual plans to launch a new total return split-cap investment trust, Investment Week understands.

Royal London Asset Management and the FSA are warning investors of a fraudster firm operating under the ‘Royal London Investment Group' banner.

Significant Cadbury shareholder Legal & General Investment Management has backed the company's rejection of Kraft's £10.2bn offer, saying it "materially undervalues" the confectionary giant.

Fidelity's Trevor Greetham has boosted commodities exposure in his Multi Asset Strategic fund after the manager's investment clock model moved to the ‘overheat' phase for the first time since 2007.

Marlborough's ETF Commodity fund has cut its cash weighting to the lowest level since launch over thee years ago, on expectations of a strong recovery in the sector.