UK

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.

Nick Ring has been promoted to head of distribution at Threadneedle after Campbell Fleming took over as CEO at the group.

Barclays shares worth a total of £39m have been awarded to nine executives as part of their long-term remuneration packages, the group said yesterday.

Jupiter CEO Edward Bonham Carter has backed the fund group to keep hold of key staff members as its post-IPO share lock-in period draws to a close.

The government has announced plans to put UK asset managers at the forefront of its mission to kickstart the economy, saying "opportunities abound" for the sector.

The FTSE 100 and sterling have both held on to gains from this morning following Chancellor George Osborne's 2013 Budget speech.

Chancellor George Osborne has moved to increase the competitiveness of the UK asset management industry by abolishing a stamp duty reserve tax for UK-domiciled funds.

The Chancellor has revealed plans to remove stamp duty on AIM shares, as part of the 2013 Budget.

The UK economy will post growth of 0.6% this year, according to the Office for Budget Responsibility (OBR), a downward revision from its December forecast.

Richard Buxton's Schroder UK Growth trust has moved onto a wide discount following news of the manager's departure for Old Mutual Global Investors.