Fidelity is to cut the annual management charge on its range of 15 multi-asset funds for advisers investing through its FundsNetwork platform, after the Financial Conduct Authority banned a cross-subsidy deal.

F&C Asset Management has reported pre-tax profits of £37.3m for the half year ending 30 June 2013, citing buoyant equity markets and cost-cutting measures introduced by activist shareholder Edward Bramson.

Jon Ingram, manager of the £139m JPM UK Dynamic fund, picks five sectors he expects will continue to perform well during the equity rally, and selects his favourite stocks from each.

The UK economy grew by 0.6% in the second quarter, in line with analysts' expectations and up from the modest 0.3% growth recorded in Q1.

Standard Life Investments is preparing to roll-out a number of regional variants of its £18bn Global Absolute Return Strategies fund, as well as a simplified version of the vehicle, IFAonline's sister title Investment Week can reveal.

The Financial Conduct Authority (FCA) has fined a US-based oil trader £600,000 for market manipulation.

UK CPI inflation rose from 2.7% to 2.9% in June, with the largest upward contributions coming from petrol, clothing and footwear.

The chairman of the suspended EEA Life Settlements fund has written to investors after its auditors said the fund is worth $100m less than the value stated in the company's annual update.

European Union lawmakers have narrowly rejected a proposal to cap fund managers' bonuses, a decision which would have blocked payouts from exceeding annual salaries.

J.P. Morgan Asset Management (JPMAM) is to merge away three funds and launch a new retail product as it completes an overhaul of its UK fund range, Investment Week can reveal.