We are not even halfway through the year but already one of the big themes emerging for 2013 is the sheer number of prominent funds which have been soft-closed owing to capacity constraints.

Threadneedle's head of UK smaller companies Dan Vaughan has taken an "extended sabbatical" from the group for the foreseeable future.

Legal & General Investment Management hired Emiel van den Heiligenberg from BNP Paribas Investment Partners as its head of asset allocation.

The incoming governor of the Bank of England (BoE) has warned Europe must change tack and introduce significant reforms to avoid a Japanese-style lost decade.

Vanguard Asset Management has bolstered its ETF range with the listing of four products on the London Stock Exchange.

Andrew Bell, chairman of the Association of Investment Companies (AIC), has warned many boards have not moved quickly enough to reduce charges on their investment trusts.

Invesco Perpetual's Neil Woodford has suggested the FTSE All Share's bright start to 2013 could soon be derailed as the rally has not been driven by an improvement in fundamentals.

Fund closures and mergers in the UK have soared to a record high in the past six months as groups cull smaller or underperforming funds amid pressure on margins.

M&G Investments has boosted its fixed income team, hiring Andrius Isciukas from HSBC Asset Management to work across the fund range.

Cazenove Capital's shareholders have approved the proposed acquisition of the business by Schroders for £424m.