The FTSE 100 has traded flat at the open after gaining 1.9% yesterday - a day which also saw leading US indices reach their highest levels in four years.

Kames Capital is to waive the performance fee on its £65m UK Equity Absolute Return fund for the rest of the year, and will cut it in half from 2013 onwards.

Investment boutique RMG Wealth Management has launched the RMG Real Return fund, targeting a positive return regardless of market direction.

Chancellor George Osborne said UK inflation will come down signficantly by the end of the year.

LOSING STREAK

Connaught Asset Management has suspended redemptions from its Connaught Income Fund Series 1 after a review flagged the possibility that some of the fund's loans may be under-secured.

The British Chambers of Commerce has cut its forecast for UK GDP growth for 2012 and has called for the government to announce a modest fiscal stimulus should public sector borrowing come in under target for 2011/12.

US GDP for the fourth quarter of 2011 has been revised up from 2.8% to 3%.

M&G tops both retail sales lists as investors seek out bond funds, while BlackRock's active and passive vehicles also prove popular.

Guinness Asset Management has launched a new share class across its fund range, becoming the latest firm to gear up for RDR with the launch of a ‘clean fee' structure.