Goldman Sachs has scrapped plans to offer its top US clients an exclusive share offer on Facebook as it fears the high level of interest could lead to a breach of securities laws.

Absolute return funds returned to form in the second half of 2010, after a period in which many failed to deliver, says Standard & Poor's Fund Services.

Former Threadneedle managers Peter Allwright and Stuart Frost are to launch an absolute return bond/credit fund at RWC Partners.

Peter Lees has boosted the performance of the F&C UK equity fund since taking over in April 2009.

ASHBY'S ANSWERS

Graham Kitchen, head of UK equities at Henderson, has taken over as head of equities from Bill McQuaker.

Soaring commodity prices could cause stock exchanges to temporarily shut, and even bring down governments as it leads to social unrest, says commodities guru Jim Rogers.

Asset class correlation risk has never been higher and markets could fall in unison in 2011, warns PSigma CIO Tom Becket.

Gartmore's share price jumped 5% in early trading as the market absorbed Henderson's offer to buy the troubled fund manager in a £335m deal.

Speculation Portugal is facing an imminent bailout was fuelled this morning as the European Central Bank was forced to buy the country's government bonds.