Alliance Trust Asset Management is renaming its two Premier-branded funds as the final step towards bringing the funds in house.

US regulator the Securities and Exchange Commission (SEC) has begun proceedings against a former Schroders municipal bonds manager for alleged insider trading.

HSBC Asset Management is to launch an ETF offering exposure to the S&P 500 Index.

Gartmore saw outflows of £1.2bn following the suspension of star manager Guillaume Rambourg, its first quarter results reveal.

The Investors' Capital trust raised £6.5m last year, reporting a dividend yield of 6.7% against 3% from FTSE All Share Capped 5% Index.

The FTSE 100 rose 28.9 points to 5412.1 in midday trading.

The Conservative and Liberal Democrat coalition Government will implement a banking levy and set up an independent commission to investigate separating retail and investment banking.

Alliance Trust Asset Management is to enter the fixed income market next month with the launch of a corporate bond fund.

Former New Star fund manager Patrick Evershed is due to appear at the Court of Appeal today to defend a court ruling that his unfair dismissal case falls under whistleblowing laws.

Suspended Gartmore manager Guillaume Rambourg returned to work as an analyst last week as the group denied it had forced out head of compliance Gerry Harvey.