The Nasdaq index suffered its worst day since 2011 yesterday, dropping over 3% as investors continued to switch out of technology and biotechnology holdings.

Jupiter has reported net inflows of almost £550m in Q1 as new investment trust business and continued retail flows bolstered AUM.

The IMA has said it will ensure the UK Equity Income sector does not become "unrepresentative" as other funds look set to follow Invesco Perpetual High Income out of the peer group.

Rathbones has won the £43m race to buy Jupiter's private client arm and is also to purchase part of Tilney IM"s private client business in a separate £14m deal.

The House of Lords' economic affairs committee has recommended a delay to the government's imminent tax crackdown on limited liability partnerships (LLPs).

Witan Investment Trust has said it will continue to invest in funds which charge performance fees as it revealed a strong set of results for 2013.

M&G has reported net outflows of £700m from its UK retail business for 2013 after slowing flows into some of its most popular funds.

Brooks Macdonald has reported a 16% increase in interim pre-tax profit as assets under management near the £6bn mark.

Multi-manager Tony Yousefian is to join Charteris Treasury Portfolio Managers following his exit from City Financial.

Invesco Perpetual's Mark Barnett has taken over Neil Woodford's £8.4bn Income and £13.1bn High Income funds with immediate effect, ahead of his original end-April start date.