Equities

The Investment Management Association (IMA) has removed the CF JM Finn UK Portfolio fund from the UK Equity Income sector after it failed to meet yield requirements.

Neil Woodford was among those awarded honours by Prince William at Buckingham Palace yesterday, days after he announced his departure from Invesco Perpetual.

CYCLICALS

Tracker funds are said to be one of the cheapest ways to invest in the stock market. We look at how they work.

Richard Buxton's decision to leave Schroders for Old Mutual Global Investors (OMGI) in March has helped boost a number of UK equity funds as investors switched holdings.

Key Neil Woodford holdings including Capita and BAE Systems dropped sharply in late trading yesterday as news of the manager's 2014 departure from Invesco Perpetual filtered through.

Neil Woodford is to leave Invesco Perpetual next April and set up his own business, the group has announced.

Shares in Royal Mail jumped 2.5% to 487p as it officially floated today, following a flurry of trading activity in the stock prior to its listing.

Hargreaves Lansdown is in position to be a £39bn beneficiary of the Retail Distribution Review (RDR), according to Barclays.

FIVE THINGS