Schroders' fixed income managers have been adding to US municipal bonds across their portfolios on the view that the sector is ripe for reappraisal by investors.

Ed Harley, head of asset management at the Financial Conduct Authority, has left the regulator to take up a role at Goldman Sachs Asset Management.

Shares in UK housebuilders have tumbled after the Bank of England said it will end the Funding for Lending (FLS) scheme for mortgages a year early.

Fund groups are facing a fresh headwind to their expansion attempts as global private banks' buy lists shrink post-RDR.

QUICKFIRE Q&A

Seven of the UK's largest asset managers are teaming up to gather information on end investors' needs in a move which could trigger changes to their fund ranges.

Eclectica hedge fund manager Hugh Hendry has said he has been forced to leave his bearish outlook behind as he faces up to a market "which only makes sense through the prism of trends".

Minutes from the US Federal Reserve's October committee meeting have helped push Japanese stocks higher after the central bank hinted at slowing its asset purchase programme.

Standard Life Wealth is to become part of Standard Life Investments as of 1 January next year, the group has announced.

Randeep Somel, the new manager of M&G's Global Basics, has revealed the fund is making new investments in miners again as he looks to position the portfolio for a new era.