Artemis Strategic Bond manager James Foster has avoided taking a hit on Co-operative Bank bonds by selling his position two weeks before today's sell-off.

Japan's Nikkei 225 index has closed above 14,600, a fresh-five year high, as the yen dropped to a four-year low against the dollar.

The Bank of England has held interest rates for the 50th month in a row and opted not to increase the size of its QE programme at its May meeting.

RWC is to launch a global equity fund for Louise Keeling, who joined the group from Marathon Asset Management last month.

Low-cost active equity funds, launched to much fanfare two years ago, are failing to attract investor interest as they pass their second anniversaries.

The FTSE 100 has hit a new five-year high after better-than-expected US jobs data sparked a 50 point rise in the blue chip index.

Franklin Templeton has launched an Asian Dividend fund for head of emerging markets Mark Mobius as it seeks to tap into investors' growing desire to diversify income streams.

State-owned RBS has reported Q1 pre-tax profit of £826m and said its "substantially fixed" balance sheet means it should be ready to return to private hands next year.

Ashcourt Rowan will consider ‘gap fill' acquisitions of small fund businesses as it targets a new phase of growth, according to CEO Jonathan Polin.

Kames Capital has bought into the record $17bn corporate bond issue unveiled by Apple yesterday, saying the deal "has to be a buy" - but other fund managers are not so sure.