Key Neil Woodford holdings including Capita and BAE Systems dropped sharply in late trading yesterday as news of the manager's 2014 departure from Invesco Perpetual filtered through.

WOODFORD EXIT

ONE TO WATCH

Fidelity's Teera Chanpongsang is to hand over the group's onshore Emerging Asia fund on 1 November as he prepares to take over the £2.1bn South East Asia OEIC.

Old Mutual Global Investors has become the latest fund group to agree super clean share class terms with Standard Life, an arrangement extending across its entire fund range.

The Financial Ombudsman Service (FOS) has rejected only one claim at decision stage against advice to invest in Arch cru, since it has started publishing complaints decisions in April.

Former Brewin Dolphin investment manager Harry Burnham has joined Ashcourt Rowan as head of its asset management arm.

With the summer an increasingly distant memory, fund managers are now back at their desks and starting to navigate Q4 - that is, with a few notable exceptions.

Ruffer's Steve Russell and Hamish Baillie are holding 14% of their investment trust portfolio in cash as they remain cautious over the short-term outlook.

Tim Steer, manager of the Artemis UK Growth fund, is backing London-focused stocks to outperform in the coming months as he focuses his portfolio on UK-centric names.