Shares in Lloyds Banking Group and Jupiter Fund Management soared on Thursday after both groups reported hefty profits in their half-year results.

Equity boutique Majedie Asset Management has hired Richard Staveley from River and Mercantile as a manager on its flagship UK Equity fund.

With interest rates in the UK at a historic low, investors have been looking for income strategies to boost the yields of their portfolios.

LLOYDS

Global bond funds suffered the worst outflows of all asset classes in June and bond indices fell sharply after comments from the Federal Reserve signalling the end of quantitative easing.

Fund managers are facing pressure to buy high risk assets in order to meet their funds' targets in an environment of falling equity volatility.

ONE TO WATCH

Martin Gilbert, chief executive of Aberdeen Asset Management, said there are currently no capacity constraints on the group's Asia Pacific funds, despite previously suggesting they will soon be soft-closed.

Aberdeen Asset Management was hard hit by June's market sell-off, which contributed to a 1% drop in AUM for the asset manager in the second quarter of 2013 compared to the end of March.

The Nikkei tumbled 3% on Friday to touch its lowest level for almost three weeks as the yen strengthened against the dollar.