Investors have withdrawn up to 10% of their assets from Neil Woodford's funds following the announcement the manager is to exit Invesco Perpetual and start his own firm next year.

Kames Capital has appointed Martin Davis, former chief executive of Cofunds, as CEO of the business.

The price of gold has continued its decline, falling below the $1,200 mark on Thursday for the first time since August 2010.

Henderson has delayed commission payments to over 7,000 advisers for three weeks due to additional checks needed following the Retail Distribution Review (RDR).

Polar Capital has hired Deane Donnigan and David Pinniger to work within it healthcare team in an effort to increase the range of the group's healthcare investment products.

Markets across the globe tumbled overnight after the US Federal Reserve announced it may slow down asset purchases by the end of the year.

Bookmakers have already set odds on who will replace Stephen Hester at the helm of RBS, following after his shock resignation announcement yesterday.

Caspar Rock, chief investment officer at Architas, has increased his funds' weightings to equities - particularly Japan - in the expectation the momentum behind the recent move into risk assets will continue.

UBS Asset Management is to become the latest group to boost its passive fund offering in the UK, as it launches the first product in a new range for retail investors.

RWC is adding a distribution share class to its Global Convertibles fund in response to demand from UK discretionary fund managers (DFMs).