HMRC has ruled it will tax fund rebates paid to consumers from April 2013.

The new-look regulator is to carry out a review of the 'increasingly complex' charges on UK funds as it is concerned they may be harmful to consumers.

Shares in asset management giant Schroders were up sharply in early trading after the group announced it had agreed a deal to buy Cazenove Capital for £424m.

Schroders today announced it is in talks with Cazenove Capital about a potential takeover of the group, as the FTSE 100 giant moves to fill a Richard Buxton-shaped hole in its UK equity desk.

As advisers digest last week's revelation that top UK fund manager Richard Buxton is to exit Schroders after more than a decade at the group, attention is now turning to where to invest next.

Ignis Asset Management saw profits fall by 6% and AUM come down nearly £5bn in 2012, as the renegotiation of its joint venture deals impacted the business in a "year of significant change".

The Evening Standard has apologised to the Chancellor of the Exchequer George Osborne after an image of its front page - meant to be released later today - revealed details of the Budget ahead of Osborne's speech.

The Bank of England voted 6-3 against more quantitative easing this month, saying a further round of purchases could cause an "unwarranted depreciation in sterling".

Cazenove's top performing UK Equity Income fund manager Matt Hudson has identified the potential winners among the UK's banking sector following a stellar year for all the big banks.

Miton Group - Gervais Williams' fund management company - has announced plans to launch a range of UK equity funds after a positive year for the group which saw assets climb towards £2bn.