M&G Investments has reported a fall in inflows of 11% in the first quarter of 2011.

Rathbone Unit Trust Management saw net inflows in the first quarter of 2011, reversing a recent trend of withdrawals and helping boost funds under management to £1.06bn.

Crispin Odey, the founder of Odey Asset Management, is buying UK banks in the view increased capital requirements will boost profit margins.

The FTSE 100 rose at opening today after a boost from US markets which closed higher on Monday.

Felix Wintle, the manager of the £673m Neptune US Opportunities fund, has blamed a tough first quarter this year for his fund's lacklustre performance over the last 12 months.

The FTSE 250 could rise a further 15% in 2011 despite surging more than 25% in 2010, said Old Mutual Asset Managers mid-cap specialist Richard Watts.

The European Union (EU) is preparing to restructure Greece's rescue package after ministers publicly acknowledged it would need further assistance.

Royal Bank of Scotland, the state-backed bank, has reported a loss of £528m in Q1 2011 after paying £469m to use the government's Asset Protection Scheme (APS).

M&G's Richard Woolnough has slashed duration to just 3.3 years on his £3.9bn Optimal Income fund in anticipation of a spike in gilt yields.

Banking shares led the FTSE 100 lower late morning after Lloyds Banking Group revealed it had set aside £3.2bn to compensate customers for missold payment protection insurance.