The Accounting and Actuarial Discipline board has launched an investigation into the accounting errors discovered at RSM Tenon earlier this year.

Henderson is to close its Japan Absolute Return fund and merge away two other vehicles in the latest phase of its fund rationalisation process.

KAY REVIEW

Invesco Perpetual's Neil Woodford is running the most concentrated portfolios seen in his 25-year fund management career in an effort to shield his funds from economic headwinds.

July US employment figures have come in well ahead of economists' estimates, helping stave off fears of a new US recession, despite a small rise in the unemployment rate to 8.3%.

The FTSE 100 has added 1.4% in early trading as investors consign yesterday's ECB disappointment to the past and await today's US jobs data.

Net retail sales of funds of funds have exceeded £1bn for the first time in a year, according to IMA figures.

European equity markets are selling off alongside the euro this afternoon as investors react badly to ECB president Mario Draghi's announcement on new policy measures designed to save the euro.

The Bank of England has held interest rates at 0.5% for the 41st consecutive month and kept its bond-purchase target at £375bn.

Jupiter chief executive Edward Bonham Carter has said the significant disruption facing platform business models in the run-up to RDR will lead to consolidation in the space.