Total platform industry costs stood £50m higher than revenues in 2011 despite assets under administration of nearly £250bn, according to Altus.

Cofunds has reported an annual profit fall of 15% for 2012, despite increasing turnover and assets under administration (AUA).

Royal London Asset Management (RLAM)'s Martin Cholwill has upped his stake in Brewin Dolphin as he backs three wealth managers to survive the post-Retail Distribution Review (RDR) world.

TOP STOCKS

Lloyds Banking Group is to sell its loss-making international private banking business to Swiss bank Union Bancaire Privée (UBP).

Close Brothers has reported positive net flows into its asset management division, with assets under management up 10% year to date.

Hargreaves Lansdown is asking smaller fund groups to offer their products exclusively through the discount broker, as part of a round of fresh price negotiations.

END OF THE TRAIL

Prolonged low inflation has sent commodities allocations among fund managers to a four-year low, according to a new survey.

Prolonged low inflation has sent commodities allocations among fund managers to a four-year low, according to a survey.