F&C

New IFA consolidation vehicle Succession Advisory Services today unveiled the seven-strong line up of global and specialist fund houses it has selected to form its outsourced investment management team.

J.P. Morgan, F&C, Henderson New Star and St James's Place are among the fund management groups expecting to cut dividends on their UK equity income funds by up to 25% in the coming year.

Friends Provident completed the demerger of F&C Asset Management today (Friday 3 July) with its controlling stake in the firm distributed to all Friends' shareholders.

London markets opened higher this morning, regaining some of Thursday's lost ground, with the FTSE 100 up 12.32 points (0.29%) to 4,246.59.

Friends Provident has issued a circular to shareholders proposing the de-merger of F&C Asset Management from the main group, seeking a vote by 12 June.

F&C is writing to investors with a proposal of merging eight of its Oeics into other F&C portfolios to be effective from the end of June.

F&C Reit is launching the Devonshire UK Opportunities fund, its first new vehicle since forming last year.

F&C Investments has agreed a two-year extension to its sponsorship deal with Birmingham City Football Club.

Friends Provident is set to offload its stake in F&C to its shareholder base after failing to find a buyer for the asset manager.

F&C's Ted Scott will not be returning to work next week as planned.