News

Axa Portfolio Services - the parent company of the Axa Elevate platform - has reported a pre-tax loss of £29.9m for the year ending 31 December 2012, representing a 10% improvement on the £33.5m loss recorded for 2011.

The Financial Conduct Authority (FCA) has agreed a settlement of proceedings in the High Court which will enable it to return approximately £380,000 to investors in a land bank.

The Chartered Insurance Institute (CII) is reviewing the existing standards and eligibility criteria for corporate chartered titles (CCT) to ensure they continue to underpin customers' expectations of a chartered firm.

Bill Gross's $285bn Pimco Total Return fund led falls among the world's most popular bond portfolios after the Federal Reserve prompted a global sell-off by indicating it may start tapering its QE programme.

Lloyds Banking Group said it has reduced its outstanding capital requirement to below £2bn, following the £8.6bn aggregate shortfall figure announced yesterday.

Wealth adviser Towry has said it would be "no surprise" if the regulator raises the qualifications bar for advisers to level 6 in the next two to three years.

Fidelity's Anthony Bolton has blamed US-listed Chinese firms for the poor performance of his Fidelity China Special Situations trust, on top of a falling market.

Jersey-based investment manager Ashburton is set to become the international arm of a new asset manager being launched by its parent, FirstRand Group.

Royal London Asset Management's Martin Cholwill is backing wealth managers to outperform in the financial services space as he looks for stocks set to benefit from ‘survivor bias'.

MULTI-ASSET