Global

Gartmore has replaced its US management team including veteran Gil Knight after a period of underperformance.

GARTMORE has severed ties with its US management team after it replaced Gil Knight and his colleagues at NWD Investments with US firm Marsico Capital Management.

INVESCO Perpetual will launch a US equity fund seeking to outperform the S&P 500 index on 9 July.

Close Investments has hired a new manager for its Far East Equity fund following the retirement of Stephen Swift of Jade Absolute Fund Managers, who previously ran the portfolio.

Investec Asset Management has launched a Global Emerging Markets Debt fund.

GAM has launched its first income strategy in the form of European Systematic Value & Income, which will be managed by Ross Hollyman.

MARK Mobius' £2.1bn Templeton Emerging Markets investment trust is to give its shareholders the option to convert up to 25pc of their existing ordinary shares into redeemable tracker stock units.

The launch of three new exchange traded funds (ETFs) could mark the start of a major expansion of the ETF market, says the London Stock Exchange.

DALTON Strategic Partnership has offered investors a new way to gain exposure to Asia after launching the Melchior Pan Asian Advantage fund.

M&G has handed control of Graham French's £456m International Growth fund to the deputy manager Greg Aldridge.