The FTSE 100 has hit a fresh record high after the US Federal Reserve signalled renewed caution on its path towards raising interest rates from their record lows.

Chancellor George Osborne has announced a 'radically more flexible' ISA system in his 2015 Budget, as part of a savings overhaul seen as being beneficial to the investment industry.

Lower inflation, driven by a fall in oil prices, has helped the Office for Budget Responsibility (OBR) upgrade UK growth forecasts for 2015 and 2016 and given the government room to move on near-term borrowing.

First State Stewart, the GEM, Asia Pacific and global equity arm of First State Investments, is to split in two and rebrand in a bid to cope with "the burden of scale", Investment Week can reveal.

Investors in Richard Pease's Henderson European Special Situations fund are to vote on its transfer to Crux Asset Management on 28 May, with the manager himself moving over at the start of June.

Liontrust's Anthony Cross, one of the largest shareholders in Charles Stanley, has backed the wealth firm's decision to offload its securities arm and said the company's business review can help it gain ground on peers.

The UK retail version of Standard Life Investments' flagship Global Absolute Return Strategies (GARS) fund has reached £25bn in assets for the first time.

Towry has increased its offer for Ashcourt Rowan to £120m, a move which is understood to have been prompted by rival bidders circling the firm.

Ian Trevers, head of UK retail at Invesco Perpetual, is to leave after more than two decades at the business.

Hermes is to soft close Jonathan Pines' $1.5bn Asia ex-Japan equity fund in May as inflows into the product accelerate, Investment Week can reveal.