Investment General

Financial services group Close Brothers has revealed its asset management division recorded a moderate loss and suffered a drop in assets in the second half of 2011 as the difficult market conditions hit investor sentiment.

Henderson has named Jim Irvine, who currently heads up the fund manager's structured products and advisory unit, as head of its £16bn fixed income business.

St James's Place (SJP) welcomed £5.2bn worth of new single investments in 2011 as the wealth manager boosted total funds under management to £28.5bn, up 6% over the year.

The Financial Services Authority (FSA) should as a matter of urgency retract its references to traded life policies (TLPs) as "toxic", EEA Fund Management has said.

Fears of a period of prolonged inflation are "unfounded", Monetary Policy Committee (MPC) member Adam Posen said, after UK inflation dropped sharply.

NINE WORST ASSET BUBBLES

Tesco CEO Phil Clarke should decline his bonus to atone for approving a senior executive's share sale a week prior to its major profit warning, according to a leading investor in the company.

Ratings agency Standard & Poor's has downgraded the EU bailout fund to AA+ from AAA.

First State's Martin Lau has beaten stars including Invesco Perpetual's Neil Woodford and Neptune's Robin Geffen to see his Greater China Growth fund ranked the most consistent performer over the three years to the end of 2011.

Schroders' Richard Buxton has revealed the top ten stocks he is backing in his £2.7bn UK Alpha Plus fund heading into 2012.