Investment General

Retail investors should avoid funds which carry a performance fee as they are more suitable for institutional investors, Fidelity's Gary Shaughnessy has argued.

London remains the top city in the world for foreign investment, according to a report into the growth of emerging market economies.

F&C Asset Management has reported £7.2bn of net outflows for 2011, during a tough year for the group as activist investor Edward Bramson seeks to turnaround the firm's fortunes.

Richard Brasher, the chief executive of Tesco's UK operations, is set to step down from his role after one of the most difficult trading periods in the supermarket giant's recent history, according to reports.

Warren Page, the chief operating officer of Towergate Financial, has been promoted to chief executive, replacing Dan Saulter.

The Financial Services Authority (FSA) is taking a closer look at firms operating as Authorised Corporate Directors (ACD), after warning of potential conflicts of interest.

Insurance giant Prudential saw profits climb marginally to £723m last year.

The asset management division of financial services group Close Brothers made a loss in the six months to 31 January, as it finalises a restructure which has seen it launch an advised service and includes plans for a direct-to-consumer proposition.

Liontrust Asset Management is to acquire Walker Crips Asset Managers (WCAM) in a £12m deal.

Close Brothers Asset Management (CBAM) has made its discretionary portfolio fund range available to advisers via True Potential's Wealth platform.