An adviser has labelled the Financial Ombudsman Service a threat to active fund management after being forced into passive funds following ‘frivolous' performance-based complaints.

Aviva Investors has reopened its €249.5 European Property Sicav, more than 13 months after it suspended dealing in the fund.

Philip Gibbs' new Jupiter Absolute Return vehicle has become the most successful launch of 2009, taking in more than £244m in its fund raising period.

Jupiter's Philip Gibbs has today launched two new products to the retail market - the Absolute Return and International Financials funds.

Former New Star fund managers Stephen Whittaker and Phil Roantree have joined forces to launch a new boutique group, with a view to initially rolling out a hybrid equity and bond product.

Henderson has appointed Mark Harris as head of its £1.13bn multi-manager business, taking over from Bill McQuaker who will concentrate on his head of equities role at the group.

Schroders' Richard Buxton believes the chances of a UK sovereign credit rating downgrade has increased following today's Pre-Budget Report.

Schroders European economist Azad Zangana believes the measures proposed by Chancellor Alistair Darling in the Pre-Budget Report will do little to bring public finances back under control.

Schroders chief economist Keith Wade has warned Alistair Darling not to attempt to rein in the UK's burgeoning budget deficit too early, believing the UK economy is still "fragile".

Investors in the CF Arch cru range are likely to face a three to five year wait to receive a full realisation from the stricken funds.