UK

The FSA has cleared RBS of acting fraudulently during the purchase of ABN AMRO, but censured it for making a "series of bad decisions" in the run up to the financial crisis.

Henderson Global Investors is understood to be weighing up a takeover bid for stricken rival Gartmore.

The manager of the £41m Marlborough UK Leading Companies fund has taken small-cap exposure to its highest level since 2007, attracted by growth prospects and exposure to emerging markets.

Octopus Investments' David Crawford has restructured his Absolute UK Equity fund in an attempt to turn around performance and stem the sizable redemption pressure on the vehicle.

BlackRock has launched its first property fund into the UK retail space.

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RWC Partners is continuing to build on its record AUM levels as the group sees strong investor demand for Nick Purves and Ian Lance's new income products.

A vehicle linked to hedge fund manager John Zwaanstra, a former protégé of George Soros, has emerged as the mystery buyer of a 5% stake in Gartmore.

The decision to cut Ross Hollyman's global equity team, which ran less than $1m of internal money, has cost boutique manager Liontrust £781,000.