EU proposals to limit fund manager bonuses have been met by a withering reaction from the asset management industry.

Royal London has agreed to buy the Co-operative Banking group's life insurance and asset management businesses in a deal worth up to £219m.

Retail investors should be able to access less liquid investment strategies so they can benefit from longer-term investment decisions, according to new RWC Partners CEO Dan Mannix.

Jupiter CEO Edward Bonham Carter has sold 750,000 shares in the group, bringing his shareholding down below 3%.

Underlying pre-tax profit at F&C rose 11% to £52.4m in 2012 as the group's 18 month restructuring programme drew to a close.

Fears that the UK is heading for a triple-dip recession appear to have been confirmed by worse-than-expected January manufacturing data, analysts have suggested.

Threadneedle is preparing to soft-close Philip Dicken's £1bn Pan-European Smaller Companies fund.

Chancellor George Osborne is set to give incoming Bank of England Governor Mark Carney more powers in a bid to revive the flagging UK economy.

Invesco Perpetual's Neil Woodford has said the fund management industry is "failing" on corporate engagement as he defended his own investment style to MPs this morning.

Fund groups have renewed their calls for sub-divisions within the Absolute Return peer group, after the Investment Management Association (IMA) revealed its long-awaited review of the sector last week.