Investec has agreed to sell its UK mortgage business Kensington to private equity firms Blackstone and TPG Special Situations Partners for £180m.

Whitechurch Securities has moved to sell clients' positions in the Schroder UK Opportunities fund following Julie Dean's exit from the group.

Schroders is planning to change the investment remit of its UK Absolute Target fund to a pan-European mandate following the departure of co-manager Julie Dean, Investment Week understands.

Julie Dean, lead manager on the Schroders UK Opportunities fund, is leaving the company and handing over her fund to Matt Hudson.

Bond managers have said the European Central Bank's move to cut rates and start buying asset-backed securities in Europe means it is now unlikely to implement a mainstream QE programme.

The European Central Bank has cut its headline interest rate by ten basis points to 0.05%, prompting the euro to slump against the dollar, and said it will begin a long-awaited asset purchase programme in the coming months.

UK gilts are the best value they have ever been compared to German bunds, M&G's Richard Woolnough has said.

One of Europe's top officials has said Scotland will not be allowed to keep using the pound sterling and remain in the European Union in case of an independence vote.

The price war in the passive space continues to rage but some providers refuse to play ball, offering trackers with fees as steep as active funds.

Aviva Investors has promoted David Lis to chief investment officer for equities and multi-asset as new chief executive Euan Munro continues to make changes at the group.