M&G's fixed income manager Richard Woolnough was paid £17.5m last year, according to reports, a figure more than double that of the CEO of parent company Prudential.

THE BIG QUESTION

The FCA may face legal action from institutional investors after its disclosure of a probe into closed-book insurance policies, according to the Financial Times.

Morningstar has announced the winners of its annual fund awards, with Invesco Perpetual and Fidelity among the fund groups to take home major accolades.

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ONE TO WATCH

The Financial Services Compensation Scheme (FSCS) has made top-up payments to Keydata investors after it recovered money from the underlying bond Lifemark's trustees.

Neil Veitch, manager of the SVM UK Opportunities fund, evaluates the strength of the economic recovery in the UK and highlights some areas of concern.