Old Mutual Global Investors (OMGI) has completed the line-up of Richard Buxton's UK equity team, ahead of the manager joining the firm in June from Schroders.

Fitch has cut China's local currency rating from AA- to A+, amid concerns the country is not doing enough to address its soaring debt levels.

Investment trust broker Winterflood has cut Richard Buxton's £288m Schroder UK Growth trust from its buy list in favour of Fidelity's Alex Wright.

Ex-LGIM sales head Frank McGarry has joined Psigma Investment Management as director for business development and marketing.

Ex-Schroders head of UK and European credit Adam Cordery has joined Santander Asset Management after exiting Schroders last July.

Psigma Investment Management has cut the AMC on its discretionary fund range from 1% to 0.5% in a move to broaden its reach into the intermediary market.

Japan's currency has fallen to its lowest level against the US dollar since May 2009, as the Bank of Japan (BoJ) shifts to a more radical monetary easing policy.

Old Mutual Global Investors' (OMGI) fund of funds manager François Zagamé has swaped First State for Schroders to run an Asian mandate for his £1.2bn Voyager Global Dynamic Equity fund.

Ashcourt Rowan has hired Brewin Dolphin investment manager Harry Burnham, who will join the firm's board after being released by Brewin.

Legal & General Investments (L&G I) has cut the annual management charges across its index fund range by five basis points, in a move to bolster the appeal of its passive proposition.