Fidelity Worldwide Investment has moved to put pressure on rivals in the passive space with the launch of four low-cost index funds.

Lord Myners has announced his shock resignation from the board of the Co-op Group, leaving the mutual in the middle of a review into its future.

The Royal Bank of Scotland has agreed a deal to scrap its Dividend Access Shares, bringing the resumption of dividend payments by the bank much closer.

M&G's Richard Woolnough has said the spectre of deflation emerging across Europe is a positive in the current environment, adding central banks should be comfortable with this development.

Cofunds' chief executive David Hobbs has told Investment Week the platform has not written off plans to introduce investment trusts to the platform, and may look to include them in future.

Lazard Asset Management has renamed its top performing UK income fund, run by Alan Custis and Alan Clifford.

FUND MANAGER FOCUS

The number of new jobs created in the US in March has missed estimates but failed to dent investor optimism as US markets opened higher this afternoon.

Holly Mackay, the founder and MD of platform advice, research and events business The Platforum, is to take a sabbatical later this year, Investment Week can reveal.

St James's Place is to reallocate £7bn in mandates currently run by Invesco Perpetual to Neil Woodford and Threadneedle, with a further £700m mandate going to Manulife.