The Dow Jones was up 50.03 points (0.57%) at 8898.18 this afternoon, following a volatile start to trading as US Federal Reserve chairman Ben Bernanke forecast unemployment would remain high into 2011.

Julius Baer has expanded its asset management distribution team with the recruitment of Threadneedle's Marion Williams.

The FTSE 100 extended its rally this morning and is set to mark six consecutive sessions of gains.

UK retail investors are becoming more optimistic about the markets but remain reluctant to increase levels of investment, a new IMA report reveals.

Martin Cobb has stepped down as lead manager of the Templeton Growth Oeic having relocated to Toronto for personal reasons.

BlackRock is looking to roll out a protected multi-asset fund to the retail market in the third quarter of this year.

Brown Shipley is re-launching its £18m MultiManager Balanced fund as an income vehicle as part of an overhaul of its Solus Oeic range.

BlackRock's Bob Doll believes the 8% correction in the US markets over the past four weeks is the result of profit taking and the bull market will resume, with stocks set to rally again by the end of the year.

Investors made a marked move towards the Cautious Managed sector last month at the expense of corporate bond funds which continued to fall in popularity.

Premier Asset Management has bought the management contracts of 10 UK Oeic funds acquired by Aberdeen in its recent takeover of Credit Suisse Asset Management.