News

The Japanese economy is "under strong downward pressure" in the wake of the damage caused by the earthquake and tsunami, the Bank of Japan (BOJ) says.

PSigma is launching a Global Equity fund for James Abate, which will be managed by the group's New York equity strategic partner, Centre Asset Management.

The Bank of England is likely to maintain its current monetary stance and keep interest rates at their historic low today after a new report suggested the UK's economic recovery remains sluggish.

Markets have opened firmer across Europe despite Portugal's request for €80bn, with investors waiting on interest rate announcements in the UK and Europe later today.

Standard Life Investments has changed the benchmark on its £595m Higher Income fund to reduce its risk profile.

Portugal has become the third nation to ask the European Union for financial assistance.

Aberdeen is renaming its £8m MM Multi Asset Growth fund and broadening its remit to give it more of a total return focus.

Deane Donnigan has resigned from AXA Investment Managers, and will exit the group in June.

The FSCS will prioritise the fund management sector ahead of IFAs when it rebates the interim levy with any recoveries linked to Keydata.

Invesco Perpetual's Stuart Parks has moved his Asian fund more defensively in anticipation of a short-term 'pause' in markets.