Global markets are selling off swiftly this afternoon as disappointing US payroll data sparks fears the US recovery is unsustainable.

LGIM's European fund manager Gavin Launder has been promoted to head of European equities at the group.

Standard Life Investments' top performing UK equity manager Ed Legget has trimmed his banking exposure, taking profits on RBS after a strong first quarter.

Schroders reported a 6.6% rise in assets under management (AUM) in the first quarter of the year, but said pre-tax profits are down year-on-year.

The Association of Investment Companies (AIC) is urging members to stop publishing TERs, instead recommending closed-ended funds disclose ‘Ongoing Charges' to give investors a greater level of clarity.

Former Federal Reserve Chairman Alan Greenspan has labelled US equities as ‘very cheap', despite the Dow Jones closing at a four year high last night.

PIMCO's Bill Gross has warned the move to instigate quantitative easing is becoming increasingly destructive, as investors become ever more reliant on credit.

Royal London Asset Management is the latest firm to introduce a clean share class in preparation for the Retail Distribution Review.

Eurozone inflation has declined to 2.6%, down slightly from 2.7% in March, but still well above the ECB's 2% target.

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