Threadneedle is to close its £12m Japanese Smaller Companies fund due to its uneconomical size and "limited demand" for the strategy.

A tumultuous June may have taken the edge off many of the sizeable gains made by funds in the first half of 2013, but it was not enough to derail performance completely.

The Investment Management Association (IMA) has begun publicly revealing Targeted Absolute Return funds' rolling 12-month performance as part of a tightening of requirements, following widespread criticism of the sector.

While asset managers have enjoyed 12 months of healthy bottom line growth, some of the UK's highest profile wealth managers appear to be at a different stage of the cycle.

Liontrust chief executive John Ions has said the group "does not see the need" to offer multiple share classes to different distributors in order to stay competitive.

Brazil's elimination of foreign investment taxes has met with a mixed reaction as emerging market nations seek to restore their attractiveness to investors.

Emerging markets now face a "cyclical point" in their development as the impact of loose monetary policy around the globe begins to wane, according to Jupiter CIO John Chatfeild-Roberts.

Liontrust Asset Management is to pay its first dividend since December 2009 after reporting a leap in full-year profits and a doubling of assets under management in the year to 31 March.

The Bank of England has appointed Charlotte Hogg, head of retail distribution and intermediaries at Santander UK, as its chief operating officer.

The Cypriot president has asked eurozone officials to overhaul the country's €10bn bailout plan due to its unmanageable impact on the Cypriot economy, according to reports.