Royal London Asset Management is to launch an absolute return fixed income fund by the end of the year as competition heats up in the space.
Ascentric has posted a £0.6m loss for the 2013 financial year after "significant" investment in technology which cost it £1.6m last year.
Royal London has reported a 45% slump in pre-tax profit in H1, pointing to regulatory charges as a key contributor, while its wrap platform Ascentric saw new business slide 20%.
The FCA has used its consumer protection powers for the first time, banning the sale of contingent convertible securities to the mass market.
Royal London Asset Management (RLAM) saw strong flows into its funds during Q1, with income and bond products in particular attracting investor interest.
Former F&C marketing head Tracy Fennell has joined Royal London Asset Management (RLAM).
Royal London has seen inflows return to its asset management unit in H1, with the group highlighting the implementation of RDR as a key driver of growth across the business.
Martin Cholwill is backing 'British leaders' in the mid-cap space, especially in the industrials sector, in his £500m Royal London UK Equity Income fund.