Insight Investment plans to close five equity funds after conceding they are no longer economically viable to run.

Henderson has appointed Mark Harris as head of its £1.13bn multi-manager business, taking over from Bill McQuaker who will concentrate on his head of equities role at the group.

Schroders' Richard Buxton believes the chances of a UK sovereign credit rating downgrade has increased following today's Pre-Budget Report.

Schroders European economist Azad Zangana believes the measures proposed by Chancellor Alistair Darling in the Pre-Budget Report will do little to bring public finances back under control.

Schroders chief economist Keith Wade has warned Alistair Darling not to attempt to rein in the UK's burgeoning budget deficit too early, believing the UK economy is still "fragile".

London trading got off to a shaky start this morning after the Fed warned of a fragile recovery in the US.

Investors in the CF Arch cru range are likely to face a three to five year wait to receive a full realisation from the stricken funds.

Insight plans to change the investment objective and policy of its UK Corporate Bond fund, with the vehicle set to utilise the full Ucits III powers to gain wider appeal in the market.

Skandia Investment Group (SIG) has awarded a £170m UK equity mandate to Investec Asset Management's Alastair Mundy.

Banks led the FTSE to an early gain in Thursday trade following reports Bank of America (BoA) is poised to repay its $45bn US Government bailout.