Last week Her Majesty's Revenue & Customs (HMRC) confirmed the widely expected decision it will be taxing fund rebates paid to consumers, as it considers such payments to be income.

Three top-performing UK equity funds run by merging fund houses Schroders and Cazenove Capital are close to reaching capacity.

Equity funds saw their highest net retail sales for nearly two years in February, the Investment Management Association (IMA) said today, with net inflows of nearly £1bn.

The Tax Incentivised Savings Association (TISA) is writing to the Treasury to ask for a one-year delay on the proposed rebate tax, after estimating the costs to the industry far outweigh the tax likely to be recouped.

Renaissance Asset Managers has been bought by emerging markets specialist Kazimir Partners, in a move which will see a number of its funds merged into other products, and a raft of new strategies launched.

The Bank of England's Financial Policy Committee (FPC) has said UK banks had a £25bn shortfall in their capital requirements at the end of 2012, as stricter capital requirements impacted balance sheets.

Andrew Fleming has stepped down from his role as chief executive and chief investment officer at Kames Capital.

Liontrust doubled its assets under management to £3bn in the last 12 months as the takeover of Walker Crips and a sharp rise in inflows boosted the business.

The decision by HMRC to tax rebates to consumers has prompted Skandia to review its recently announced unbundled charging structure, Investment Week can reveal.

The Financial Services Authority (FSA) is planning to up its focus on advisers and wealth managers placing large amounts of client money in a single fund, amid fears some firms are not carrying out sufficient due diligence.