Cadbury is poised to be taken over by US food conglomerate Kraft after its board approved a new increased bid.

Schroders CIO Alan Brown has joined the IMA board following a number of changes at the trade association.

Henderson will re-open its suspended New Star International Property fund on 12 February.

Invesco Perpetual has launched a new unconstrained bond fund for highly-regarded duo Paul Causer and Paul Read, which focuses on total returns rather than an income target.

Skandia Investment Group has appointed Cincinnati-based boutique Fifth Third Asset Management to run $80m US Large Cap Growth fund, replacing Wellington Management.

Graham Birch, head of BlackRock's Natural Resources team, has decided not to return to the company following his nine-month sabbatical.

Axa IM has hired Jon Bailie from Russell Investments as its global head of distribution.

Dalton Strategic Partnership is launching a Ucits-compliant version of its European equities fund, which bucked the industry trend by profiting in 2008.

Majority HBOS-owned property fund manager Inivsta has revealed it is in talks over a possible offer for the company.

Investec Asset Management has launched three new funds for its Luxembourg-domiciled GSF range - which utilise full Ucits III powers in the energy, natural resources and currency sectors.