One of the big trends in the funds industry over the past few years has been the proliferation of alternative UCITS vehicles, with the industry reporting annual growth rates of over 30%.

Claims group in breach of contract

Disappointing Q4

To leave in March after nine years

Japanese equities plunge 5%

What is indisputable is the issue of 'closet trackers' has long been a serious blight on the reputation of the whole active management fund industry.

Fund managers have urged a return to 'old school' investing, including a focus on fundamentals, as global markets dropped into bear market territory last week.

Combined group would have £18bn AUM

The appointment of Bank of England veteran Andrew Bailey to the top job at the Financial Conduct Authority (FCA) has ended months of speculation and false leads.

The Bank of Japan has cut interest rates to -0.1% as policymakers try to keep their economic plans intact in the face of global headwinds.