Hedge fund bashing never fails to go down a treat.

GLG Partners is to cap its UK Alpha Select Ucits fund after it reached its $300m (£195m) asset target.

The FTSE was steady at 5620.88 points this morning, despite rating cuts from brokers and a downbeat assessment on the UK economy by a major think-tank.

The FTSE rose 0.6% to 5619.92 by 3.45pm today, buoyed by a flurry of positive announcements across sectors.

The FSA is today meeting senior officials from Goldman Sachs over the bank's involvement in structuring complex debt intruments during the financial crisis, Investment Week understands.

Bonds were the best selling asset class in March, a month in which UK domiciled funds topped £500bn in assets under management for the first time, according to IMA figures.

The FTSE fell 0.3% today, defying falls more than four times as large on most of Europe's major markets.

The eurozone is not offering Greece enough cash to get it through the debt refinancing is faces this year, managers believe.

Old Broad Street Research (OBSR) has suspended the A rating on Cazenove's UK Dynamic fund following news manager Neil Pegrum is leaving the firm.

LGT Capital Partners is launching a Ucits-compliant version of its Crown Managed Futures fund next month.