Laxey Partners has rebuffed Alliance Trust's claim its TER is one of the lowest in its peer group, stating research shows it has almost doubled since the merger with Second Alliance Trust in 2006.

Santander has added two portfolios to its range, a multi-manager offering focusing on global emerging market equities, and a single manager income portfolio.

The FTSE clawed back some of yesterday's losses in early trading despite losses in the US following Standard & Poor's downgrade.

Standard & Poor's has cut its outlook for the US from stable to negative, causing the dollar and shares to tumble.

Schroders is planning to launch a commodity investment trust in June for David Mooney of Schroders NewFinance Capital.

Moody's has downgraded its rating of Irish banks to junk status, following its decision last week to cut Ireland's sovereign debt rating by two notches.

Henderson's Charlie Awdry expects China will raise interest rates three more times this year to quell soaring inflation.

Legal & General Investment Management (LGIM) is mulling the launch of a balanced managed fund later this year to fill a gap in its product range.

Standard Life Investments' Jacqueline Kerr has stepped down from the management of the group's £517m Global Advantage fund, handing it to the group's multi-asset team, led by Euan Munro.

Former Lehman Brothers subsidiary Neuberger Berman has launched the largest investment trust of the year so far.