Neil Woodford's new income fund will aim to deliver high single digit returns annually, despite a 'challenging' economic backdrop he predicts will weigh on markets.

The Investment Management Association (IMA) has called on members to "abandon" using annual management charges on any literature following the regulator's guidance on fund charges.

Neil Woodford is to launch his long-awaited equity income fund at the start of next month with a flat fee structure that will see his firm absorb admin costs.

Wrap platform Transact has acquired a 15% stake in adviser technology business Sprint Enterprise Technology, operator of adviser software system Fastrak.

A trio of fund managers at Invesco Perpetual are exiting the firm to join Neil Woodford's new venture.

RWC Partners is to launch a global equity income fund for Ian Lance, Nick Purves, and John Teahan as it expands its income fund range.

The Financial Conduct Authority (FCA) has fined Invesco Perpetual £18.6m for exposing investors to more risk than they had been led to expect in funds including Neil Woodford's giant income portfolios.

Standard Life Investments has taken the unusual step of criticising Barclays during its AGM, attacking the bank over its latest remuneration proposals amid a fiery meeting.

GlaxoSmithKline, the UK's largest pharmaceutical group, has agreed to sell one of its businesses to rival Novartis, in a deal which will see it return billions of pounds to shareholders.

Google shares moved sharply lower in after-hours trading following a disappointing update, with the negative sentiment that has blighted the sector showing no sign of abating.