The UK economy grew by 0.7% in the second quarter of 2013, a higher than previously estimated figure, according to latest figures from the Office for National Statistics.

Analysts are upgrading their UK growth forecasts ahead of a potential upwards revision to Q2 figures this Friday.

The increasing likelihood of former US treasury secretary Larry Summers becoming Fed chairman next year has prompted a further spike in bond yields, analysts suggest.

The FTSE 100 has shed 40 points in early trading to move back towards the 6,400 mark, compounding losses suffered in recent days.

Royal London has seen inflows return to its asset management unit in H1 and pointed to Retail Distribution Review (RDR) implementation as a key driver of growth across the business.

Funds including the Absolute Insight fund of funds and GAM's US equity offering are among those to have made the latest Bestinvest Premier Selection guide.

The Financial Conduct Authority (FCA) is writing to 11 fund groups this week as part of a thematic review into fund charges.

The European mutual fund industry shrunk by 1.3% in the second quarter, with a net decrease of more than 400 funds, as the number of mergers and closures began to accelerate again.

The arrival of the Retail Distribution Review (RDR) and the decision to stem flows into Richard Woolnough's corporate bond funds saw M&G's UK retail business suffer outflows in H1 2013.

Fixed income managers have cautioned the Bank of England (BoE) will be forced to backtrack on its forward guidance measures as it has been too pessimistic over the state of the UK economy.