The UK economy expanded by 0.8% in Q1, slightly below economists' expectations.

Venture Capital Trusts (VCTs) have been hoarding investor cash after an error from HM Revenue and Customs left the vehicles afraid of issuing new shares.

Richard Buxton and Philip Matthews have both slipped into the bottom quartile of the UK All Companies sector on a six-month view following their moves to Old Mutual and Schroders respectively.

HM Revenue and Customs (HMRC) has issued fresh guidance on its decision to tax unit rebates after receiving a number of queries from fund groups and platforms.

Goldman Sachs has sought to reassure clients spooked by the recent falls in tech stocks, saying the US is unlikely to suffer a 2000-style crash.

Old Mutual is reviewing Intrinsic's risk-rated Cirilium proposition in a move which could see it take over the range from Henderson.

The Investment Management Association (IMA) is planning an industry standard for how fund groups disclose turnover costs, it has emerged.

Dovish Federal Reserve minutes sent US and Asian markets higher overnight, allaying fears the Fed could raise rates earlier than expected.

Investors should avoid income-paying trusts after the sector moved to trade on a premium for the first time since the financial crisis, analysts have warned, amid growing expectations interest rates could rise this year.

Russia has said it expects outflows in the first quarter of this year to total $70bn as sanctions hit the country's economy harder than expected.