UK

UK CORPORATES

Neptune's Robin Geffen has compared Prudential's proposed AIA takeover to the 2001 downfall of Marconi.

Schroders will launch its Asian Income Maximiser product on 1 June after receiving FSA approval.

RWC Partners plans to roll out two products for Schroders duo Nick Purves and Ian Lance in September and is also considering adding a covered call strategy to its fund range.

Investec Asset Management posted a record £4.7bn net inflow over the year to 31 March.

St. James's Place has put three funds run by Nick Purves under review following his resignation from Schroders this week.

Baillie Gifford High Yield Bond fund manager Ben Thompson plans to leave the group next month to work outside the financial services industry.

Bank of England governor Mervyn King yesterday set out his reasons for the overshoot of CPI inflation last month in a letter to new Chancellor George Osborne. They were all dubious, says Henderson chief economist Simon Ward.

Miton Asset Management managing director Martin Gray has been appointed a director of Midas Capital with immediate effect.

While there is sure to be some heavy criticism coming from the media and other commentators about the apparant ineptitude of the MPC to correctly forecast near term inflation, spare a thought for Mervyn King.