Asian markets rebounded strongly overnight, recovering from their worst one day falls since last July, as eurozone contagion fears receded following Cyprus' controversial bailout package.

Almost half the funds in the IMA Global Equity Income sector have cut dividend payouts over the past year, leading some wealth managers to caution income hunters when allocating to the increasingly popular space.

Octopus Investments has overhauled the discount policy across its £350m VCT range, reducing the buyback discount to 5% of NAV rather than 10% for investors looking to sell their shares back to the VCT.

London's leading share index has slid into the red in early trading, as eurozone contagion fears resurface following Cyprus' controversial bailout package.

First State Investments is stepping up efforts to stop flows into Angus Tulloch's £7.4bn Asia Pacific Leaders fund.

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Baillie Gifford has cut the annual management charge across its specialist investment trust range, including Sarah Whitley's top-performing £169m Japanese investment trust.

Carl Stick, manager of the £504m Rathbone Income fund, has bought back into the mining sector for the first time in a number of years, initiating a small position in Rio Tinto.

Alliance Trust chief executive Katherine Garrett-Cox has outlined three roadblocks which could hinder economic growth in 2013 and derail soaring global equity markets.

Bond managers have cut duration to record lows, anticipating a fresh spike in gilt yields as they settle at a higher trading range.