A Scottish based asset management firm has established a new office in the Far East.

Pictet Asset Management has announced three senior appointments to its thematic equities investment team.

Bosses at Aberdeen Asset Management have reported a fall in assets under management of £41bn over the last 12 months and net outflows of £33.9 billion for the year up until September.

The FCA said this morning it could intervene in the asset management sector if a new probe, which began today, unearths ineffective competition.