UK - Newton Investment Management, a subsidiary of Mellon Financial Corporation, has appointed Nick Clay and Rob Marshall-Lee as joint managers of the Newton Income Fund.
The company has also appointed Richard Wilmot as manager of the Newton Growth fund.
The £1.1bn Newton Income and £71m Newton Growth funds had followed a consistent investment strategy for some time, and the changes reflect Newton's aim greater differentiate between the two strategies.
The Newton Income fund will retain its focus on income and capital growth, while the Growth fund will return to its original focus on capital growth across the full spectrum of the UK equity market.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.