Insurer Zurich has given BlackRock a mandate to passively manage £3bn of its funds sold through Allied Dunbar and Eagle Star brands in a move that aims to create stability for investors.
BlackRock has appointed Rachel Lord from Citigroup as new head of iShares in Europe, the Middle East and Africa (EMEA) to replace Joe Linhares as he returns to the US.
A number of smaller investment trusts have been forced to cancel expansion plans as larger vehicles continue to dominate the market.
Aberdeen Asset Management has confirmed rumours it is in talks to buy Scottish Widows Investment Partnership (SWIP) in a deal which would make it the largest listed fund management firm in Europe.
Buyers fear increased stock-specific risk as active EM funds run high weightings to developed markets.