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Funds

Money market funds hit by crunch
Money market funds are feeling the impact of the credit crunch, new figures have shown.

Data from Morningstar shows that six of the 29 funds in the IMA Money Market sector lost money over three months to September 22nd, with the average decline standing at 0.5 per cent. Read full story

Other Funds stories

-	ETCs benefit from flight from equities. Investors are flocking to physically-backed gold and silver exchange traded commodities (ETCs), amid uncertainty in the global stock markets. 7th October 2008 15:47
-	ETFs little understood by many investors. Exchange traded funds (ETFs) are little understood by thousands of potential investors, a study has shown, despite the advantages they can offer. 7th October 2008 15:40
-	Fortis puts fund management firm up for sale. Fortis is to offload UK fund manager Artemis, as the beleaguered lender looks to offset credit crunch-related losses. 2nd October 2008 16:55
-	Artemis acquired by Fortis. UK fund manager Artemis Asset Management has been acquired by Fortis, it has been confirmed. 1st October 2008 17:08
-	PFB unveils new property fund. A new fund is set to be launched to capitalise on the shortfall of residential properties, it has been announced. 30th September 2008 17:07
-	SLI UK Equity Growth Fund given AAA rating. Standard Life Investments (SLI) has been granted an AAA rating by Standard & Poor's for its UK Equity Growth Fund. 29th September 2008 16:39
-	AIG confirms enhanced fund closure. AIG Life has confirmed it is to close its enhanced fund offering in the wake of a slew of redemptions. 26th September 2008 17:12
-	ZIL adopts climate change strategy. Zurich International Life (ZIL) has confirmed that its range of Zil Mirror and International Wealth Account funds will be adopting a strategy focussed on climate change. 25th September 2008 16:30
-	RAM unveils new equities appointment. Resolution Asset Management (RAM) has confirmed the hire of Neil Richardson as deputy head of UK equities. 23rd September 2008 16:43
-	F&C completes strengthening of multi-manager team. F&C Investments has confirmed the hire of Oliver Sonbichler for its multi-manager team. 22nd September 2008 17:09