Global asset allocators are urging investors to look past the VIX index's fall to a five-year low last week, and shield assets against a further bout of volatility in the coming months.

Fidelity Worldwide Investment has handed its £1.1bn Japan Advantage fund to Mark Buffett as Ron Slattery steps down from fund management due to family circumstances.

Germany's economic growth cooled to 0.3% in the second quarter, down from 0.5% expansion in Q1, the Federal Statistical Office has announced in its final reading.

The eurozone will fall back into recession in the third quarter, posting a 0.5%-0.6% contraction, PMI data has estimated.

Angela Merkel and Francois Hollande will meet later this week to decide on whether to ease the terms of Greece's bailout package after the country yesterday pleaded for more time.

London's leading share index has slipped into the red in early trading, mirroring losses overnight in Asia and the US, after gloomy economic data from Japan dampened sentiment.

Eden Financial's Leigh Himsworth said appetite for UK income stocks could be about to wane and investors may become more willing to pay a premium for growth names.

Jeremy Charles, manager of the £1.3bn Scottish Widows UK Growth fund, is the latest fund manager to exit the firm following the restructure of its £54bn equity desk.

Chinese equities have slumped to a three and a half year low, amid concerns additional monetary easing stimulus will be shelved as property prices in the region soared to a fourteen month high.

Fidelity Worldwide Investment has named Raymond Ma (pictured) as lead manager on the group's offshore $391m Greater China fund.