Bill Gross, manager of the world's largest bond fund, says QE could 'flop' if the private sector fails to pick up the slack when the government stimulus is removed.

Fidelity's bond manager Ian Spreadbury is running a chunky underweight to bank debt in the view it is particularly at risk from the threat of a double-dip recession.

Henderson has promoted Ben Pakenham to the role of lead manager on the £151m Henderson Extra Monthly Income fund, replacing James Gledhill.

Paul Carne, manager of the F&C Lifestyle fund range, is leaving the company to join an institutional investment consultancy firm.