Aberdeen is merging its Global Sterling Corporate Bond fund into its Global World Bond fund due to the small size of the former portfolio.

Neil Woodford's Invesco Perpetual income funds have leapt to the top of the performance tables after two years of underperformance as the manager's value calls finally start to pay off.

The Investment Management Association (IMA) has proposed scrapping the Active, Balanced and Cautious tags and merging the Absolute Return sector into a new managed sector, in its review of the Managed peer groups.

Declines in metals and other commodity prices caused global indices to drop in Wednesday trading.

The North American sector saw its highest ever inflows in February as UK retail investors piled into overseas equities, according to the IMA.

Former Gartmore star Guillaume Rambourg is looking for another role in fund management following the FSA's decision to not take any formal action over his conduct at the group.

Neil Woodford, one of the UK's most highly regarded fund managers, is to give his views on the UK economy and stock market as he addresses investors in a conference call later this morning.

Schroders is to hard-close its £2.76bn US Mid Cap fund due to soaring inflows.

Ongoing disruption in the Middle East and the higher oil price has dragged on global markets, with many seeing losses of more than 1%.

The reopening of the Egyptian stock exchange has been further delayed as its head rejects calls to cancel trades placed in the last few days it was open.