Smith and Williamson

Smith & Williamson posted record profits for the six months to 31 October last year, helped by the performance of its investment management division.

Smith & Williamson's John Anderson has been snapping up Tesco bonds as they offer "the most outstanding value he has seen for some time".

Giles Worthington has joined Smith & Williamson to run its European Growth trust, following the departure of Mark Pignatelli at the end of last year.

Ratings agency FundCalibre has added six funds to its Elite Rating list after its inaugural investment committee meeting earlier this month.

Markets may have been volatile as autumn approached, but the Smith & Williamson Enterprise fund has returned more than 3% over the three months to 3 November 2014, and beaten peers in the Targeted Absolute Return sector.

INVESTMENT TRUSTS

The Investment Management Association (IMA) is struggling to find a "perfect" solution to calculating fund performance following the shift to clean pricing, and may have to devise a completely new approach.

With developed world inflation hovering around the 1%-2% mark, Smith & Williamson's Chris Lynas explores the potential impact on bond markets.

Eden Asset Management founder and former M&G equities head Ed Rosengarten has joined Smith & Williamson as head of its funds business.

Wealth management firms are making final preparations for the introduction of US tax regime FATCA as the 5 May registration deadline approaches.