Markets

Aberdeen has beaten off competition from Macquarie to acquire Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group in a deal worth up to £650m.

Macro data was at the forefront of investors' minds this week, after a surprise drop in UK inflation sent the pound lower.

GLG has launched a mirror version of Henry Dixon and his ex-Matterley colleagues' Undervalued Assets fund, after poaching the team in September.

The Royal London group has agreed with funds advised by independent private equity firm Vitruvian Partners to support a management-led buyout of Royal London's offshore arm 360° and subsidiaries for an undisclosed sum.

Barclays is to cut 1,700 UK branch jobs from 2014 as customers move online for services.

Janet Yellen has defended the Federal Reserve's quantitative easing programme in her first appearance before Congress.

Former Sarasin manager David Vickers has joined Russell Investments to run its flagship £1.2bn Multi-Asset Growth Strategy.

Jupiter's Peter Lawery has said the next five years promise to be uncomfortable for investors as they try to dodge 'punches' in the form of central bank policy moves.

Charles Stanley has agreed a deal to buy Evercore Pan Asset Capital Management, the passive portfolio specialist co-founded by John Redwood MP.

M&G's retail funds under management are up 24% year on year to £64.5bn at 30 September, driven primarily by strong inflows from European clients, with UK flows turning positive again in Q3.