Legal & General Investments has launched a range of five risk targeted multi-asset funds with an AMC of 0.25%, as it looks to benefit from the move by advisers to outsource fund selection.

In a surprise statement, Germany's finance minister has admitted Greece will need a third bailout package.

Henderson Group has seen a record jump in underlying pre-tax profit in the first half of 2013, despite a £2bn outflow from its institutional business.

A senior Federal Reserve economist has criticised the European Central Bank for resisting further monetary stimulus.

Shares in the Royal Bank of Scotland dropped as much as 6% after the bank reported its half year results and announced its new CEO.

Shares in Lloyds Banking Group and Jupiter Fund Management soared on Thursday after both groups reported hefty profits in their half-year results.

With interest rates in the UK at a historic low, investors have been looking for income strategies to boost the yields of their portfolios.

Fund managers are facing pressure to buy high risk assets in order to meet their funds' targets in an environment of falling equity volatility.

Aberdeen Asset Management was hard hit by June's market sell-off, which contributed to a 1% drop in AUM for the asset manager in the second quarter of 2013 compared to the end of March.

The International Monetary Fund (IMF) has warned if the US Federal Reserve begins tapering monetary stimulus, the weakest eurozone countries could be pushed into a "debt-deflation spiral".