The pound dropped to its lowest rate against the dollar in almost a year this afternoon after the US unemployment rate fell below 6%, triggering a further rally for the dollar.

The future direction of bond yields is less important to the fixed income story than many suspect, PIMCO's Mike Amey has suggested.

‘Market conditions have left customers bruised’

Fund Management Summit

Nick Gartside, co-manager of the JPM Strategic Bond Fund, has said that a divergence in central bank policies could lead to more diverse returns for fixed income investors in future.

Last week Bill Gross quit PIMCO - the firm he founded - to join Janus Capital in a move which had ramifications for many investors. Now as outflows on his PIMCO Total Return fund mount, where should investors turn?

The Association of Investment Companies (AIC) has elected Peter Arthur to replace Andrew Bell as chairman.

Neptune Investment Management's head of UK wholesale Adam Hughes has exited the group following a restructure of the business, Investment Week understands.

Wonga will write off the debts of 330,000 customers, worth £220m, after the FCA found flaws in its system for assessing the ability of borrowers to pay back their debts.

Eight staff members have been dismissed by Lloyds following an investigation into the LIBOR rate fixing scandal that saw the bank fined £218m.