UBS Global Asset Management is launching the UBS Sterling Corporate Bond Indexed fund, its first passive fixed income fund for the UK wholesale market.

Morningstar has voiced concerns about the lack of succession planning in the funds industry and the reluctance of groups to hand over large pots of money to young talent.

Japanese shares have slumped in this morning's trading as equity markets struggle to consolidate gains seen in the first quarter of 2013.

The third reading of UK's GDP growth for Q4 2012 has confirmed a 0.3% contraction between the third and fourth quarter.

Paul Griffiths is leaving his role as global co-head of fixed income at Aberdeen Asset Management, handing over sole responsibility for the role to Brad Crombie.

Cazenove's Julie Dean will not be running Richard Buxton's assets after the takeover of the company by Schroders, and the firm is still actively looking for his replacement.

Rathbone Unit Trust Management has launched a global total return fund for Carl Stick in a push to target sophisticated investors.

Schroders today announced it is in talks with Cazenove Capital about a potential takeover of the group, as the FTSE 100 giant moves to fill a Richard Buxton-shaped hole in its UK equity desk.

The situation in Cyprus could have a far more negative impact on the credit market than it has so far, Kames Capital's Melanie Mitchell has said.

Japan's Nikkei index experienced its biggest fall since November as concerns about Cyprus and the eurozone continued to batter markets.