Will fund boards achieve a better deal for investors?

Though couched in regulatorspeak, the Financial Conduct Authority’s (FCA’s) verdict was damning. ‘It is important the asset management industry, which looks after the savings of millions of investors, is working as well as possible,’ said executive director Christopher Woolard in May, as he unveiled the final results of the FCA’s two-and-a- half year investigation into asset managers and the open-ended funds they run.

Neptune to merge UK funds

Neptune Investment Management has confirmed it plans to merge the £20.3 million Neptune UK Equity fund, managed by Scott MacLennan, with the £35.2 million Neptune UK Special Situations fund, formerly managed by Alex Breese.