Bill Gross' Pimco Total Return fund has lost its position as the largest mutual fund in the world after investors pulled over 13% of assets from the fund since the summer.
Aberdeen Asset Management and Macquarie Group are the two remaining bidders battling it out for Scottish Widows Investment Management (SWIP), Investment Week understands.
Liontrust Asset Management has recorded its 13th consecutive quarter of net inflows, helping push assets under management to £3.4bn.