Fidelity is launching a short-duration version of bond manager Ian Spreadbury's £3.3bn MoneyBuilder Income fund.

Some of the UK's major platforms are considering writing to the Financial Services Authority (FSA) to complain about Cofunds, arguing the largest fund platform in the country is prohibiting easy re-registration.

The pound has weakened against the euro, falling below €1.20 for the first time in more than nine months.

Solid inflows into its mutual fund business and segregated mandates, as well as positive market movements, helped Jupiter grow its assets under management to over £26bn in Q4.

FUNDS

FUNDS

The FTSE 100 closed at its highest level since May 2008 yesterday as investors continued to snap up cyclical names, including the UK's semi state-owned banks.

The FTSE 100 is nearing a two-year high once again today as investors continue to snap up cyclical names including the UK's semi state-owned banks.

Two former employees of HBOS have been arrested along with a string of other suspects following an investigation into loans offered by the bank prior to its collapse.

Invesco Perpetual has handed top-performing UK manager Stephen Anness its Global Opportunities fund as part of a reshuffle of its equities division.