Royal London Asset Management's David Varley is leaving his role as manager of the £429m Japan Growth fund this month, to pursue opportunities outside the industry.

iShares has launched an ETF providing exposure to short-dated corporate bonds denominated in sterling on the London Stock Exchange.

The FTSE 100 index edged higher in early trading following gains in the US last night.

The price of UK 10-year government bonds stayed higher after the country's growth forecast for the year was slashed from 2.1% to 1.7% in George Osborne's Budget.

Global markets have been boosted by news of a ceasefire in Libya, rising oil prices and intervention by the G7 nations to suppress the value of the yen.

Fund managers warn Japan could take a short term hit to GDP following last week's earthquake and tsunami, but they are less concerned about the longer-term impact on the country's fragile economic recovery.

Japan's stock market lost almost 7% after its first full day of trading following the earthquake and tsunami that struck the country on Friday.