RBS plans to close precious metals trading

Royal Bank of Scotland plans to close down its precious metals trading operation, an industry source said, and the bank confirmed it was halting commodities research due to an internal review.


Citigroup launches commodity trade finance business

U.S. bank Citigroup has launched a commodity trade finance unit, expanding into a sector once dominated by European lenders who have been shrinking their activities to cope with the euro zone debt crisis.


Troubled hedge fund Pentagon to fight SEC's $100m fine

A contemporary of David Cameron's at Oxford University, Mr Chester took the dramatic step after his hedge fund, Pentagon Capital Management, was fined $98.5m earlier this year for allegedly engaging in late trading in mutual funds between 1999 and 20


DFAS Bloxham Global Equity Income Fund - change of manager

They plan to run the DFAS Bloxham Global Equity Income Fund in exactly the same way before merging it into their existing fund by the end of this year. At that time a new share class is to be created for retail investors.


Schroders launches Global Macro Bond Fund

The Fund aims to deliver an annualised gross excess return of eight per cent per annum over LIBOR using currency, sovereign and credit strategies, and is scheduled to launch in October 2012.


RBS severs ties with Hoare Govett

He had decided to reshape RBS so that it would never again carry the same risks that led to its taxpayer bailout during the financial crisis.


S&P Capital IQ announces UK fund management awards

Excellence will be identified at the fund manager, team and house level, drawing upon the qualitative insights and assessments from a team of fund analysts who review and consider the gradings of over 1,200 funds a year.