Jim Leaviss, head of retail fixed income at M&G, said the UK is facing the prospect of a US-style fiscal cliff within the next five years.

Former Baillie Gifford European small-cap manager David Walton has joined Hargreave Hale to assist Giles Hargreave across his Marlborough small-cap unit trusts and the firm's VCT products.

Taube Hodson Stonex Partners (THS) is launching a retail share class for its flagship £592m International Growth and Value fund, after parting company with St James's Place (SJP) late last year.

FinEx Group has made its first foray into the European ETF market, launching a product which tracks a Russian corporate bond index.

Former J.P. Morgan Chase & Co investment banker Ed Woodward will become Manchester United's next chief executive in July after David Gill announced he will step down from the role at the end of the season.

Global stock markets have notched up impressive gains over the past three months, with the FTSE 100 yesterday breaking the 6,400 barrier to reach a five-year high.

The board of Alastair Mundy's £631m Temple Bar trust is seeking shareholder approval to widen its international equity weighting as part of a broadening of its mandate.

Invesco Perpetual's Paul Causer and Paul Read have been boosting exposure to equities, taking the view the strong rally in financial bonds will cool in 2013.

Neil Woodford, manager of Invesco Perpetual's £20bn Income funds, believes AstraZeneca is finally turning a corner after a difficult 2012.

Hedge fund managers have been increasing their short positions in sterling amid fears the currency is set to depreciate further as investors flock to the euro.