Jupiter is proposing to launch its planned I share classes - targeted at wealth managers - across its unit trust range later this month.

Investec has reached an agreement with Evolution to purchase the Williams de Broë owner in a deal worth £233m.

The Swiss franc has fallen 9% against the euro after the Swiss National Bank (SNB) said it was setting a minimum exchange rate against the single currency.

Net retail fund sales for July fell to their lowest level since October 2008 while equity funds saw net outflows for the first time in over two years.

Fidelity has launched a European Dynamic Value fund, managed by Neil Madden, which seeks to identify cheap and disliked stocks with improving fundamentals.

The FTSE 100 has opened 3% higher after the Dow Jones added 250 points overnight on better retail data and news of a Greek bank merger.

US markets moved lower in the immediate aftermath of Ben Bernanke's Jackson Hole speech after the Fed chairman made no firm commitment to further stimulus.

The US Commerce Department has said US GDP rose at an annualised rate of just 1% in the second quarter, down from an earlier estimate of 1.3%.