UBS is reviewing the future of its underperforming UK Smaller Companies fund, managed by Frank Manduca (pictured).
The Financial Services Authority (FSA) has fined UBS £9.45m for failures in the sale of the AIG Enhanced Variable Rate fund.
First State Investments has launched a Global Credit Income fund for the UK market, targeting wealth managers and discretionary investors.
The chief executive of UBS' investment bank has admitted the banking industry must change, as bankers have become "too arrogant".
The LIBOR-rigging scandal that engulfed the banks in 2012 further dented their badly tarnished reputation and dealt another blow to public confidence, leaving investors uncertain how to play the sector.
UBS is to pay out $1.5bn in fines after it admitted its role in fixing the interbank lending rate.
Swiss bank UBS is expected to receive a $1bn fine, to settle LIBOR manipulation allegations, according to reports.