The FTSE 100 has reversed gains made earlier this week after the International Monetary Fund (IMF) walked out of bailout talks with Greece.

Pioneer Investments has launched an emerging markets bond short-term strategy in response to investors' need for better protection from rising interest rates.

Aberdeen Asset Management is to partner with pensions consultancy Hymans Robertson for a service which will see it use the firm's technology to target direct investors for the first time.

Russell Investments has re-hired its former senior analyst, Van Luu, to head up its currency and fixed income strategy desk.

Rathbone Unit Trust Management is slashing fees on its entire multi-asset range, as it prepares to include direct equities in portfolios as part of a shift to a "private client-style product".

Large fixed income houses are being forced to expand the overseas investment capacity of their funds and use more derivatives in a bid to mitigate liquidity risks in the bond market.

Help or hindrance?

Old Mutual Global Investors has dropped PIMCO as sub-adviser on its Total Return fund in favour of former manager Bill Gross, now at Janus Capital.

Greece has missed its scheduled payment to the International Monetary Fund (IMF), announcing it will bundle debt due into a single figure at the end of the month instead.

BNY Mellon Investment Management is making the Newton Global Emerging Markets fund available to UK retail investors by merging it into its UCITS fund range.