Tracker funds' share of total industry funds under management hit a fresh record at the end of 2012, nearing 9% of FUM, according to the Investment Management Association (IMA).

Investec's Alastair Mundy has raised the cash weighting in his £2.3bn Cautious Managed fund to over 20% as he struggles to find buying opportunities in equities or bonds.

Threadneedle has handed its UK Overseas Earnings fund to Blake Hutchins as Richard Colwell steps back from managing the portfolio.

Collins Stewart Wealth Management has recorded a pre-tax loss of £447,000 for Q4 2012 as parent Canaccord was affected by costs relating to recent acquisitions.

Chancellor George Osborne has taken the unusual step of calling on the Bank of England to do more to help support the UK economy, according to reports.

Swedish banking group Handelsbanken has acquired UK wealth manager Heartwood for an undisclosed fee.

RBS has been fined a collective £391m for its role in the LIBOR scandal, with the FSA's investigation finding over 200 "inappropriate" rate submissions.

Goldman Sachs Asset Management chairman Jim O'Neill - the man who first coined the phrase BRIC - is to retire this year after 20 years at the company.

Jupiter has launched the Merlin Real Return fund for Algy Smith-Maxwell as it shuts the manager's Jupiter Equity fund.

Hargreaves Lansdown has risen 5.8% to top the FTSE 100 leaderboard as the blue-chip index recovers from yesterday's decline.