BlackRock is merging its UK Dynamic fund with its UK fund as part of a wider UK equity overhaul as Mark Lyttleton resigns from the group.
René Defossez, fixed income strategist at Natixis, assesses the next steps for the UK economy.
The government has announced plans to put UK asset managers at the forefront of its mission to kickstart the economy, saying "opportunities abound" for the sector.
The FTSE 100 and sterling have both held on to gains from this morning following Chancellor George Osborne's 2013 Budget speech.
Chancellor George Osborne has moved to increase the competitiveness of the UK asset management industry by abolishing a stamp duty reserve tax for UK-domiciled funds.
The Chancellor has revealed plans to remove stamp duty on AIM shares, as part of the 2013 Budget.
George Osborne has asked Whitehall departments to make a further £2.5bn of cuts, as he prepares to present a gloomy Budget 2013 later today.
Almost half the funds in the IMA Global Equity Income sector have cut dividend payouts over the past year, leading some wealth managers to caution income hunters when allocating to the increasingly popular space.