Business news in brief: Kames Capital | Berkeley

Business confidence levels in Scotland are above the UK average, according to a survey published today.

Firms north of the Border recorded a confidence score of +32.5 for the third quarter compared with a UK average of +24, the latest ICAEW/Grant Thornton UK business confidence monitor reveals.

It notes that confidence levels in Scotland have been on a general upward trend since the final quarter of 2011 and this is the sixth consecutive quarter that Scotland’s score has been in positive territory.

Kames adds Baines to high–yield team

Fund manager Kames Capital has names Stephen Baines as a fixed income manager at its high-yield bond team.

The appointment of Baines, who has joined the Edinburgh-based firm from Oriel Asset Management, comes after former support manager Claire McGuckin was promoted to co-manager of the £1.5 billion high yield bond fund in June.

Phil Milburn, McGuckin’s fellow co-manager, said Baines, who started his career at Baillie Gifford and has nine years’ fund management experience, “will be an asset to the team”.

Berkeley investors to share £568m

Housebuilder Berkeley Group remains on track to hand £568 million to shareholders within the next two years as UK government schemes drive a “tentative” recovery in sentiment among consumers.

Through a combination of share buy-backs and dividends, the group is aiming to return more than £1.7 billion to investors by 2021.

Shareholders will receive a total of £77.3m in dividends this month, and chairman Tony Pidgley said a further £471.5m will be paid by September 2015.