Legg Mason Global Asset Management has appointed State Street to provide its fund administration and custodian services in the UK.

Skandia Investment Group has introduced the JPM Global Financials fund to its flagship £800m Skandia Global Dynamic Equity fund.

Aegon Asset Management is set to launch its first UK absolute return fund by the end of Q1.

The London Stock Exchange's new electronic Order book for Retail Bonds has gone live with companies including Tesco and BT taking part.

The FTSE recovered some of last week's losses in early trading, rising 37.28 points (0.7%) to 5,098.20 with gains from miners and banks.

Gartmore China Opportunities fund manager Charlie Awdry has increased exposure to exporters despite Beijing's tightening economic policy.

Aegon has launched a global absolute return fund targeting investors seeking global macro exposure.

Ignis Asset Management has teamed up with specialist credit investment manager Castle Hill Asset Management.

Aberdeen plans to merge away its UK and European Opportunities funds into similar larger vehicles.

The FTSE was marginally down by 0.04% to 5186.60, despite strong gains by utilities in early trading.