Fund groups have warned the RDR will lead to increased volatility in fund flows and a greater share of assets going to a handful of the larger asset managers.

Russia plans to raise up to $30bn through asset sales over the next three years in the biggest privatisation programme since the frenzied disposals under former leader Boris Yeltzin.

Investec's Emerging Markets Debt fund, the first daily-dealing UK onshore vehicle investing in local currency EMD, has broken through £1bn of assets after seeing substantial flows over the past year.

Jupiter's Philip Gibbs has rebuilt a strong stake in insurer Prudential, just months after offloading the stock over its proposed AIA takeover.

Investec's John Stopford believes UK index-linked gilts continue to offer good value after the DMO raised £6bn in a sale of the securities yesterday.

Cazenove has promoted Rob Thorpe to the newly-created head of UK retail position.

St. James's Place is eyeing further development of its fund range after recording a 60% jump in Q2 unit trust sales.

Rathbone Unit Trust Management has continued to suffer redemptions from investors over the first half of the year, with the group posting a £41m net outflow.

Investment guru Jim Rogers believes another recession will be due in about 2012, but the difference next time will be the inability of central banks to throw cash at the problem.

Robert Shiller, architect of the famous Shiller P/E ratio and co-developer of the Standard and Poor's S&P/Case-Shiller home price index, says there is a 50% likelihood of a US double dip.