Sanlam's head of business development Andy Davies has joined Momentum Global Investment Management as head of UK retail sales.

Mike Fullalove has joined Barclays Wealth and Investment Management from Alliance Bernstein as its new head of fund products.

Lazard has hired former Henderson manager Léopold Arminjon to run a new European equities strategy.

The Federal Reserve has signalled that interest rate rises could be slower than markets anticipate after the latest meeting of the Federal Open Market Committee.

P2P Global Investments has announced it will raise a further £250m through the issue of new C Shares.

Low liquidity, US monetary policy risk and steep valuations in India are the reasons why over 20% of the Fundsmith Emerging Equities trust remains uninvested almost a year after launch, according to manager Terry Smith.

AXA Investment Managers has handed its onshore emerging markets fund, previously managed by head of emerging markets Julian Thompson, to Ian Smith and Paul Birchenough in a team reshuffle.

Ecclesiastical Investment Management has rebranded to EdenTree Investment Management in an effort to emphasise its socially responsible investment offering.

Hermes Investment Management has added to its fixed income range with the launch of an Absolute Return Credit fund.

Emerging markets funds have been hit by the biggest level of outflows in seven years, as issues including MSCI stalling on adding Chinese A-shares to its benchmarks weighed on sentiment.