Asian markets are trading lower as investors weigh up hopes of further action by the Federal Reserve against Moody's downgrade of Japan.

Henderson chief economist Simon Ward has said the sharp fall in gilt yields does not indicate the UK is headed for a Japan-style deflationary environment.

VOLATILITY, UNCERTAINTY, OPPORTUNITY

Standard Life Investments is looking to combine its global equity and small cap capabilities by launching a global small-cap fund for star manager Harry Nimmo.

US hedge fund giants looked to technology stocks in the second quarter but some big names have been left nursing heavy losses after moving back into US financials ahead of the market crash.

US markets have opened lower as investors take a dim view of Hewlett Packard's latest acquisition and send its shares down 20%.

Jupiter has revealed pre-tax profits more than doubled in the first six months of 2011 as AUM stood firm in the face of choppy markets.

US manufacturing data has sent markets plunging again, with the S&P 500 down 4.5% and the UK and Europe also tumbling.

VALUE AMID VOLATILITY

Threadneedle is to alter its managed funds' investment policy by allowing managers to make more defensive plays and invest more heavily in its long/short offerings.