Royal London

Fund managers have voiced concerns ETF trading is increasingly driving the direction of the wider market and exacerbating recent slumps, raising questions over the use of the products in less liquid securities.

Members of life and pensions mutual Royal London have agreed to proposals to acquire the life insurance and asset management businesses of the Co-operative Banking Group.

THE BIQ QUESTION

Fund closures and mergers in the UK have soared to a record high in the past six months as groups cull smaller or underperforming funds amid pressure on margins.

A near-25% rise in UK protection sales helped drive an increase in profits for the Royal London group in 2012.

Royal London has agreed to buy the Co-operative Banking Group's life insurance and asset management businesses in a deal worth up to £219m.

THE BIQ QUESTION

UK equity income managers, including Artemis' Adrian Frost, are stepping up their quest for the next generation of dividend payers as the London market's leading stocks disappoint.

UBS Asset Management is to become the latest group to boost its passive fund offering in the UK, as it launches the first product in a new range for retail investors.

Fixed income managers are turning more positive on bank debt after regulators announced they will allow banks to hold a broader range of corporate bonds as a capital buffer.