Majority of EU countries favour passports for hedge funds (Headlines)
A ??large majority? of European Union countries are in favour of creating pan-EU marketing rights or ??passport? for hedge funds and managers based outside the 27-country bloc, Belgian??s finance minister said on Tuesday, as discussions over controversial new rules for the sector continues in Brussels. Currently funds must apply to each country individually to sell to investors.
Gartmore to lose flagship investment trust (Fund News)
Gartmore is braced to lose Gartmore Growth Opportunities (GGO), one of its flagship investment trusts, as the fallout from the departure of leading fund manager Gervais Williams continues.
Alliance Trust sells part of UK equity portfolio (Fund News)
Alliance Trust, the UK??s largest listed investment trust, said it had sold off £140m from its UK equity investment portfolio during the past six months, shifting £166m in cash in its pan-Asian fund and £124m to a general emerging market fund.