UK

Apollo Multi Asset Management has launched a discretionary fund management service with six risk managed portfolios on the Novia platform.

Man Group is planning to follow up the launch of its Nomura Global Trend fund with another vehicle run up by GLG, the fund manager it acquired last year.

Invesco's chief economist John Greenwood has shot down bearish forecasts for economic growth in the UK and said it should beat expectations from the Office for Budget Responsibility (OBR).

Ratings agency Moody's is threatening to cut the ratings of 14 British lenders including RBS and Lloyds on concerns regulators including the Bank of England will harden their stance on future bailouts.

ON UK GROWTH

Dale Spencer, chief economist at the Bank of England, said interest rates in the UK should rise even though the economic recovery has failed to take hold, according to the Financial Times.

PSigma's Bill Mott has tipped UK pharmaceutical giants AstraZeneca and GlaxoSmithKline to double investors' cash over the next three to five years.

Liontrust has widened the investment parameters on Anthony Cross' £89m Special Situations fund, allowing the manager to focus more of the portfolio in large-cap stocks.

Artemis' William Littlewood has moved to a short position in gilts in his £971m Strategic Assets fund, warning the UK's debt position is almost as bad as Portugal's.

The Federal Bureau of Investigation (FBI) has joined the investigation into the alleged manipulation of LIBOR by UK banks during the financial crisis.