Standard & Poor's downgrade of Ireland's credit rating was "inevitable", and other ratings agencies are likely to follow suit, says Schroders.

Standard & Poor's has downgraded Ireland's credit rating based on the country's weak banking system.

The Manek Growth fund has once again soared to the top of the UK All Companies sector, outperforming its closest competitor by 13.2% over the past three months.

Standard Life Investments has seen appetite for retail products soar in 2010 with a 128% increase in net inflows in the first half of the year compared to the same period in 2009.

Miners dragged on the FTSE 100 opening this morning following BHP Billiton's $40bn hostile takeover bid for Canadian group Potash Corp.

Private equity positions were the largest positive contributor to the Foreign & Colonial investment trust in the first half of the year, helping to offset the effects of BP's dividend suspension.

Edward Novis has joined JO Hambro Investment Management (Johim) as co-manager on the Waverton European fund.

Fund managers have shown their support for oil giant BP despite its record $17bn (£11bn) loss in the second quarter.

The FTSE 100 has opened flat following yesterday's climb as markets await European bank stress tests results.

Ignis is eyeing the launch of its first internal retail fund since 2007 with an absolute return bond mandate for its rates team.