The Investment Management Association (IMA) is canvassing fund groups on how to counter the "very significant erosion of trust in financial services" amongst consumers, and has proposed introducing a 'statement of principles' for members.

Standard Life Investments (SLI) has launched a local currency emerging market debt fund to complement its existing hard currency offering.

Goldman Sachs and Morgan Stanley have downgraded a number of asset management firms on fears some fund groups will see net outflows for the second quarter of this year.

Fidelity's Anthony Bolton has blamed US-listed Chinese firms for the poor performance of his Fidelity China Special Situations trust, on top of a falling market.

Emerging market debt managers have been taking underweight positions in local currency bonds as they expect the dollar to strengthen once the Fed turns off the QE tap.

Old Mutual Global Investors has seen inflows of more than £100m into Richard Buxton's UK Alpha fund, ahead of his arrival at the group.

Barclays' wealth division has closed its discretionary fund management service to advised clients with less than £250,000 of investable assets.

Royal London's Derek Mitchell has urged caution on the surging housebuilding sector, which has been a major contributor to mid-cap fund performance over recent months.

Mid cap managers are reviewing some of their key holdings following the latest re-shuffle of the FTSE indices, which has seen two popular stocks promoted.

Last July's pledge by ECB president Mario Draghi to do "whatever it takes" to save the euro has sparked a run that saw the MSCI Europe index beat the MSCI World by 6% in the last year, surpassed only by the US in terms of performance.