Tim Steer will take over the Artemis portion of Skandia's UK Strategic Best Ideas fund, five months after losing his mandate following his departure from New Star.

Hedge-fund guru John Paulson, who pocketed about £280m in shorting RBS during the financial crisis, has taken out a $2.2bn long position in Bank of America.

M&G posted a record £4.1bn net retail inflow in the first half of 2009, with more than £3bn placed in the group's range of fixed income funds.

Jupiter's Ariel Bezalel says inflation is not a threat in the UK, believing the Bank of England could continue QE for several more quarters without damaging the gilt market.

BNY Mellon Asset Management vice chairman Jon Little has reassured retail investors the group plans to keep its soon-to-be-acquired Insight business "separate and distinct" from its other affiliates.

Lloyds Banking Group has announced plans to focus and build on its Scottish Widows Investment Partnership (Swip) brand after offloading Insight.

The Bank of New York Mellon will acquire Insight Investment Management from Lloyds Banking Group for £235m.

Hargreaves Lansdown has removed the Artemis UK Smaller Companies fund from its Wealth 150 list.

Franklin Templeton emerging markets guru Mark Mobius said global stocks were likely to face a correction of up to 30% some time this year.

Warren Buffett's Berkshire Hathaway is buying up corporate and non-US government debt as the investment guru cuts equities spending to a five-year low.