Legal & General Investment Management's (LGIM) Richard Hodges has bought back into gilts, arguing ultra-low government bond yields are here to stay despite the recent market sell-off.

A number of wealth managers have privately warned fund groups they will be less inclined to recommend funds which give preferential prices to the biggest distributors in the market, Investment Week understands.

Standard Life Investments (SLI) is converting its £380m UK Property fund into a property-authorised investment fund (PAIF) next month, to give unitholders gross income without having to pay corporation tax.

Fund supermarket Hargreaves Lansdown is continuing to shun investment trusts despite bolstering its research into the sector over the past year.

The Dow has leapt to a fresh all-time high shortly after the opening bell, as Federal Reserve chairman Ben Bernanke last night ruled out the prospect of an imminent end to QE.

City Financial's Leigh Himsworth has sold out of Brooks Macdonald and switched into Ashcourt Rowan, following a run up in the price of shares in the former which has left them at 'expensive' levels.

Federal Reserve chairman Ben Bernanke last night moved to quell fears there will be a quick exit from QE in the coming months, arguing the US economy is not yet in a strong enough position to halt stimulus measures.

Odey Asset Management is to soft-close James Hanbury's top-performing £629m UK Absolute Return fund next week, Investment Week can reveal.

The Bank of England has said market expectations of future rate rises are "not warranted", sparking a drop in sterling and a 50 point jump in the FTSE 100.

The price of oil has broken through $100 a barrel for the first time in almost a year, amid concerns the political turmoil in Egypt could disrupt Middle East supplies.