Legal & General is to close its £222m Global Macro Themes fund - formerly David North's Diversified Absolute Return trust - as current manager Ben Gill leaves the group, Investment Week can reveal.

Invesco Perpetual's Mark Barnett has taken over Neil Woodford's £8.4bn Income and £13.1bn High Income funds with immediate effect, ahead of his original end-April start date.

Jupiter shares have fallen almost 5% in morning trading after TA Associates sold its final 10.6% stake in the company.

The Bank of England has suspended an employee as part of a probe into manipulation of the foreign exchange market.

Franklin Templeton has completed a rejig of its UK sales team after hiring Mark Dunn from Carmignac.

St James's Place is set to make its inaugural entry into the FTSE 100 when the index's quarterly review takes place later today.

Jupiter CEO Edward Bonham Carter has sold one million shares in the company as he prepares to step back from running the business.

Some of the UK's largest fund houses are shifting focus to concentrate on ongoing charges after Invesco Perpetual became the first group to ditch annual management charges (AMCs) altogether.

A concentration of flows among an increasingly small pool of funds is prompting buyers to turn away from the biggest players due to fears over performance, liquidity and communication.

Annualised US GDP growth for Q4 2013 has been revised down from 3.2% to 2.4% at the second estimate, with worse-than-expected personal consumption figures to blame.