Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) have been granted an exemption from the FCA's ban on sales of unregulated collective investment schemes (UCIS) to retail investors.

M&G's director of UK advisory has predicted it could take up to two years to properly gauge demand for restricted propositions among the adviser community.

London's leading share index has started the week firmly lower, with global sentiment knocked by worse than expected Chinese manufacturing data which had already sparked yet another slump for Japan's stock market.

Former Investment Management Association (IMA) chief Richard Saunders has joined Investec Asset Management's board as a non-executive director.

Troy Asset Management has launched an offshore mirror version of its popular Trojan Income fund, headed by Francis Brooke and Hugo Ure, after it soft-closed the onshore portfolio last month.

Henderson's Alex Crooke, manager of the £647m Bankers investment trust, has sold out of UK recovery plays as he does not expect this part of the market to deliver for a number of years.

Schroders has moved to fill its vacant head of UK equities position following Richard Buxton's departure, handing the role to its head of European equities Rory Bateman.

Multi-asset managers have been forced to move into specialist vehicles or even switch to open-ended funds as the number of closed-ended vehicles trading on a premium to NAV hits a post-crisis high.

Invesco Perpetual's Neil Woodford, manager of the group's £25bn suite of UK income products, has described his heavy underweight position to the mining sector as one of the biggest drivers behind his outperformance over the past year.

Ashburton has unveiled an Africa Equity Opportunities fund aimed at both retail and institutional investors.