IMA

DFMs

The Targeted Absolute Return sector was the best-selling IMA sector in May, with £255 million in net retail sales, well above its average figure for the year.

This week has seen further volatile moves in markets - particularly within fixed income as investors unwind positions in government and emerging debt - while Chinese equities also hit the headlines on fears of a slowdown in the country.

Some mid-cap managers are allocating nearly 40% of their funds to stocks outside the FTSE 250, leading to a dip in performance as the index rallied over the last six months.

The Investment Management Association (IMA) is canvassing fund groups on how to counter the "very significant erosion of trust in financial services" amongst consumers, and has proposed introducing a 'statement of principles' for members.

The Investment Management Association (IMA) has begun publicly revealing Targeted Absolute Return funds' rolling 12-month performance as part of a tightening of requirements, following widespread criticism of the sector.

With the news the industry's best known fund manager, Neil Woodford, is moving on from Invesco Perpetual, there is a lot of pressure on his successor Mark Barnett.

Mirabaud Asset Management has poached AXA Investment Management's Anu Narula to run a new global equity portfolio.

Gordon Grender, manager of the GAM North American Growth fund, is holding a fifth of his portfolio in cash as he struggles to find attractive valuations in the US market.

Vanguard managing director Thomas Rampulla and AXA IM UK head Irshaad Ahmad have joined the IMA board, boosting total numbers to 18.