Recent years have seen rapid economic growth in India and China. But, with both countries having undergone major change and challenges in 2012, questions about their future potential have led to much debate among investors.

President Barack Obama signed into law the ‘fiscal cliff' bill on Wednesday 2 January 2013 designed to prevent the country rolling out sharp spending cuts and sweeping tax rises.

Liontrust made a net inflow of £64m over the final quarter of 2012, over four times the equivalent period the previous year.

BlackRock has entered a definitive agreement to acquire the exchange-traded funds (ETF) business of Credit Suisse, in a deal set to complete by the end of the second quarter.

Charles Deptford, manager of the Smith & Williamson UK Equity Growth and UK Equity Income trusts, has left the firm.

Schroders' head of UK equities Richard Buxton has publicly backed financier Nat Rothschild in his latest attempt to replace the board of coal miner Bumi.

NORTHERN SUMMIT

EQUITIES

Lloyds Banking Group helped the FTSE 100 gain 6% over 2012 and reverse the losses of the previous year.

Asian markets received a New Year's boost as the US House of Representatives passed a last minute deal to prevent the US falling over the fiscal cliff.