News

Assets at Gartmore grew by 19% to £22.2bn last year, boosted by net inflows into mutual funds of £485m.

Prudential rushed last night to complete a Hong Kong listing for its shares amid doubts investors would approve its record $35.5bn acquisition of AIA, the Asian division of American International Group (AIG).

China could end its near two-year currency peg on the dollar as soon as next month, according to respected economist Professor Nouriel Roubini.

The FTSE 100 opened flat following a mixed performance in the US overnight. The UK index was up 0.07% or 3.07 points to 5,610.

J O Hambro Capital Management's Scott McGlashan believes the recovery of Japan's economy and stock market should continue in 2010, especially if the Bank of Japan eases monetary policy.

AIG is selling its American Life Insurance Company (Alico) business to rival MetLife for $15.5bn (£10.3bn), as part of its continued efforts to pay off its federal bail-out.

Baillie Gifford has converted its Income fund to a new globally-focused product.

Retail investors exited UK equities in favour of global and regional funds in January.

Former Liontrust managers Jeremy Lang and William Pattisson plan to set up a new asset management boutique.

Prudential has applied to have its shares listed on the Hong Kong Stock Exchange as part of its plan to buy AIG's Asian assets.