UK/US - Hedge fund manager Trafalgar Capital Management is launching a US equity market neutral fund aimed at schemes as part of its expansion plans.
Trafalgar is looking to expand its institutional client base, following the strong performance produced by its flagship pan–European market neutral equity fund.
Last year, the fund produced a 13% return and has received $100m (£62.1m) from investors since its launch in November 2001.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.