swip

Scottish Widows Investment Partnership (SWIP) has promoted Dan Daldry to co-manage its Absolute Return Bond fund alongside James Carver.

Lloyds Banking Group has reported pre-tax profit of £2bn for the first quarter, well ahead of analysts' estimates, after the lender made a number of cost savings and profited from selling 20% of its stake in St. James's Place.

GOSLING'S GROUSE

Ameriprise Financial has appeared to rule out a potential acquisition of Scottish Widows Investment Partnership (SWIP), saying available M&A opportunities "do not meet our criteria".

Bond managers have been steadily increasing the use of credit default swaps (CDS) in their portfolios as liquidity issues which emerged in the corporate bond space last year continue to plague the sector.

Threadneedle parent company Ameriprise Financial is preparing an £800m bid for Scottish Widows Investment Partnership, according to reports.

This week commodities dominated the headlines after a hefty sell-off in the gold market; while Schroders moved to replace outgoing manager Richard Buxton with a double hire.

Lloyds Banking Group has moved closer to a sale of Scottish Widows Investment Partnership as it seeks to strengthen its balance sheet, according to reports.

UK equity manager James Clunie has left his role at Scottish Widows Investment Partnership (SWIP) to join Jupiter Asset Management.

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