Legg Mason Capital Management's US fund manager Mary Chris Gay has exited the firm, Investment Week, IFAonline's sister title, can reveal.

UK CPI inflation has fallen to 2.4% in April, a larger-than-expected drop from the 2.8% figure recorded in March.

The final Inflation Report of governor Mervyn King's term has seen the Bank of England revise up growth forecasts but caution inflation will still likely peak above 3% this year.

Jupiter has promoted Mike Buhl-Nielsen to lead manager on its Europa fund as Stephen Pearson steps back to focus on his deputy chief investment officer responsibilities.

Concerns raised by ratings agencies, analysts and hedge funds have pushed bank shares lower this morning as the FTSE 100 snaps seven straight days of gains.

The Bank of England has held interest rates for the 50th month in a row and opted not to increase the size of its QE programme at its May meeting.

Low-cost active equity funds, launched to much fanfare two years ago, are failing to attract investor interest as they pass their second anniversaries.

Franklin Templeton has launched an Asian Dividend fund for head of emerging markets Mark Mobius as it seeks to tap into investors' growing desire to diversify income streams.

Ashcourt Rowan will consider ‘gap fill' acquisitions of small fund businesses as it targets a new phase of growth, according to CEO Jonathan Polin.

State-owned RBS has reported Q1 pre-tax profit of £826m and said its "substantially fixed" balance sheet means it should be ready to return to private hands next year.