Richard Philbin, the former F&C and Architas multi-manager, has teamed up with the founder of Skandia's Best Ideas range Alan Durrant to launch a new multi-manager business.

Japan's Nikkei 225 has suffered its second huge fall in a little over a week after the index closed down 5% overnight.

Major indices across Europe have opened lower this morning, reversing gains made yesterday as the IMF cut Chinese growth forecasts.

Verona Smith, marketing director of Cofunds, is to join The Platforum after exiting the fund supermarket in the wake of its takeover by Legal & General.

Ian Spreadbury's £3.5bn Fidelity MoneyBuilder Income fund has widened its remit to allow the manager to buy non-sterling corporate debt in a move to boost liquidity and performance.

Fidelity Worldwide Investment (FWI) is to expand its range of FAST funds with the launch of a US portfolio for manager Adrian Brass as it moves to create a US equity research desk that can "rival anything in London".

Lloyds Banking Group has raised £450m from a placing of a 15% stake in St James's Place (SJP), just months after it sold a 20% stake.

Many UK-listed stocks have got off to a flying start in 2013, with indices approaching all-time highs, but some companies have been given a rough ride by markets, destroying shareholders' capital in the process.

The finalists for this year's Professional Adviser International Fund & Product Awards 2013 have now been announced.

Aberdeen Asset Management has completed a deal to buy US asset manager Artio Global Investors for £118.3m ($179.7m)