News

Japan's economy plunging back into recession, the head of the IMF quitting over sex crime allegations' and Lloyds Banking Group shareholders venting their anger over executive pay... here are today's top stories.

Multi-manager funds proved popular among investors in the first quarter of 2011, with groups including Jupiter and Henderson all seeing a rise in sales thanks to their funds of funds, according to the latest Pridham report.

Former M&G star David Jane has today launched of the first offering from his new boutique, the TM Darwin Multi Asset fund, a rival to the top performing M&G Cautious Multi Asset fund.

Dominique Strauss-Kahn this morning gave in to mounting pressure following his arrest for an alleged sexual assault by resigning from the IMF.

UK unemployment has fallen by 36,000 to 2.46 million in the first quarter of 2011, 0.1% down on the previous quarter, figures from Office for National Statistics (ONS) show.

Oil giant BP has reopened negotiations with Rosneft after failing to meet the original deadline for a $16bn share swap at midnight on Monday.

Threadneedle's Andrew Holliman leaving the firm after seven years to join Polar Capital, Investment Week understands.

Aymeric Forest has joined Schroders' multi-asset business as a fund manager, reporting to Johanna Kyrklund, head of multi-asset investments.

Fidelity's bond manager Ian Spreadbury has warned the UK has a 20% chance of returning to recession as consumers face mounting pressure from taxes, commodity price rises and high unemployment.

Robin Geffen has used the full 20% overseas allowance in his £1.04bn Neptune Income fund and is shunning UK consumer facing stocks.