How absolute return funds fared during turbulent August

Core inflation rises to highest level in five months

Fund managers and economists have reacted to the surprise news that only one MPC member voted for a rate rise this month, saying the UK economy is 'not out of the woods yet'.

The bond market faces "strong headwinds" for some time as summer volatility returns and markets anticipate interest rate hikes, according to Invesco Perpetual's fixed income team.

UK CPI inflation fell back to zero last month, down from 0.1% in May, as the prices of clothing, fuel and food all fell.

Hargreaves Lansdown has agreed to acquire £370m of assets from J.P. Morgan Asset Management, for an undisclosed amount, as the latter ceases to offer direct investments to certain individual clients.

Newton's chief investment officer Simon Pryke is leaving the firm after almost 20 years to pursue more commercial roles.

HSBC has confirmed it is planning to cut up to 25,000 jobs, including up to 8,000 posts in the UK, to target annual savings of up to $5bn (£3.3.bn).

Ten of the biggest investment fines

Investec has reported profits in its asset management business grew 3.6% over the year to the end of March 2015, as its CEO said the wider group is "in the best position it has been since the mid-2000s".