Aviva Investors is to close its suspended £400m Aviva Investors UK Property Fund after a run of poor performance and uncertainty over its liquidity should investors seek to redeem investments en masse.

FE Investments, which provides discretionary Managed Portfolio Services (MPS), has joining a growing band of fund managers in axing VAT from its fund sales. 

If there is one positive from the London Capital & Finance fiasco it is that the whole sorry business has prompted government and regulatory action to stop a repeat of LCF.

Latest data from the FCA has revealed that in the second half of 2020 the number of complaints received by financial firms - excluding PPI complaints - rose by 3.3% to 1.93m.