Brooks Macdonald has seen an increase in its funds under management over its financial third quarter, driven by new discretionary business.

Alliance Trust's agreement to appoint two of the non-execs proposed by Elliott Advisors has been proclaimed a victory for the hedge fund, but the trust's future direction remains up in the air.

Another shareholder body has added its voice to the growing number recommending that Alliance Trust shareholders support the changes put forward by Elliott Advisors.

Non-domiciled residents' contributions to the UK Exchequer have been defended after Labour leader Ed Miliband confirmed his party would abolish the 'non-dom' tax status if it came to power following next month's general election.

Elliott Advisors has increased its voting stake in Alliance Trust in the run up to the trust's annual general meeting later this month.

Elliott Advisors has responded to Alliance Trust's formal circular to shareholders, rejecting the company's claims and accusing its board of resorting to "personal attacks".

J.P. Morgan Asset Management (JPMAM) has cut fees on its Fusion fund range, run by Tony Lanning, in a bid to improve the portfolios' competitiveness.

Commentators have warned Chancellor George Osborne's new rules for VCT,EIS and SEIS investments, announced in the Budget, could create confusion and crowding in certain parts of the market.

With the Bank of England monetary policy announcement marking six years of rates being held at a record low level of 0.5%, Investment Week looks at the funds which have produced the best performance over the period.

Retail fund sales tumbled last month in a reversal of the strong inflows seen in 2014, according to the latest Investment Association (IA) figures.