Fixed income managers have been forced to adopt protective measures in response to the huge spike in volatility seen in bond markets in recent weeks.

Ben Yearsley has left his role as head of investment research at Charles Stanley Direct after less than three years.

River & Mercantile Asset Management is soft closing Philip Rodrigs' UK Equity Smaller Companies fund following strong inflows during the past year.

Legg Mason chief executive Joe Sullivan has said Martin Currie is planning further hires as it begins to reposition following its acquisition by the US giant last year.

Sterling jumped 0.6% against the US dollar this morning, on the news wages in the UK grew at their fastest rate since 2001 in the three months to the end of April.

Macquarie Investment Management (MIM) has appointed Austin McBride, formerly of Ignis Asset Management, as its head of UK wholesale, Investment Week can reveal.

The month of May marked the end of the UK's brief spell of negative inflation, as rising fuel costs have pushed the CPI figure above the zero mark once again.

Aberdeen Asset Management has set aside $500m in credit lines to fund potential redemptions from their funds if the bond market sell-off escalates.

UK equity income managers have been utilising more of their overseas investment budgets as they struggle to find suitable opportunities in the UK.

Sebastian Lyon's £2.6bn Troy Trojan fund has been labelled "the biggest disappointment" in Chelsea Financial's biannual RedZone list of underperforming funds.