IMA

First State's Martin Lau has beaten stars including Invesco Perpetual's Neil Woodford and Neptune's Robin Geffen to see his Greater China Growth fund ranked the most consistent performer over the three years to the end of 2011.

The UK fund management industry faces complete transformation if the financial transaction tax - or Tobin tax - is implemented, commentators have warned.

Equity funds experienced their highest ever outflows of retail money in November as investors pulled out their cash in droves amid the ongoing eurozone crisis.

The IMA could be ready to launch its delayed fourth Managed sector in the coming months, following a pick-up in interest from fund groups.

The IMA has re-launched its Managed sectors with new names and definitions, apart from the Mixed Investment 0-35% Shares sector which has been delayed.

FEES

After a year dominated by volatility in markets which hit equities for six, and left government bonds trading at record highs, Investment Week reveals the best and worst performing IMA sectors.

Asset managers have accused platforms of harming investor interests because they are unable to support tax efficient property funds, which were given a welcome boost in last week's Finance Bill.

As 2011 draws to a close, now is as good a time as any to reflect on what has been another extraordinary year in global economic and political history and one which saw volatility return to markets once more amid whispers of a new credit crunch.

IMA's new definitions for Managed sectors are met with cautious approval, although some fund groups say more clarification is needed