Structured products have seen a surge in popularity this year due to the industry's prompt reaction in clarifying counterparty risk following the Lehman bankruptcy, plan providers say.

Cazenove has closed its Absolute UK Dynamic fund one week after its launch having raised £123m.

Skandia has announced the sudden departure of Jamie Macleod, founder of the group's investment management business.

The FTSE 100 extended gains this afternoon as Cadbury snubbed Kraft's £10.2bn takeover approach.

The FTSE 100 is being spurred forwards by Cadbury this morning on news the British chocolate maker has received a £10.2bn takeover approach from US goods giant Kraft.

Franklin Templeton has merged the Franklin US Growth fund into its $363.9m US Equity Sicav.

Investec Structured Products has unveiled the FTSE 100 Bonus Income plan in its latest suite of product launches.

Allianz Global Investors is set to launch a Ucits III version of its Discovery Europe fund in October.

Allianz Global Investors is set to launch a Ucits III version of its Discovery Europe fund in October.

Hargreaves Lansdown has removed the UBS UK Smaller Companies fund from its Wealth 150 recommendation list.