Artemis has hired former M&G fund manager Rosanna Burcheri to run its newly launched Global Select fund alongside Simon Edelsten and Alex Illingworth.

US markets have opened lower, with the S%P 500 losing ground initially as investors await consumer confidence data.

PIMCO bond fund manager Bill Gross has acknowledged he made a mistake in betting so heavily against US government bonds earlier this year.

The FTSE 100 has opened 3% higher after the Dow Jones added 250 points overnight, with financials leading the surge.

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Cazenove's Paul Marriage said the short positions in his Absolute UK Dynamic fund have helped limit the effects of the August sell-off but warned September could be "similarly tough".

US markets have moved lower in the immediate aftermath of Ben Bernanke's Jackson Hole speech after the Fed chairman made no firm commitment to further stimulus.

The US Commerce Department has said US GDP rose at an annualised rate of 1% in the second quarter, down from an earlier estimate of 1.3%.

Legal & General Investment Management has hired Martin Reeves from AllianceBernstein to replace David North as manager of its £1.9bn High Income trust.

RWC Partners has soft-launched a Global Value fund for former Schroders income stars Nick Purves and Ian Lance.