The FTSE 100 is off to a solid start this morning after a late surge on Wall Street yesterday following Ben Bernanke's comments that the US recession is over.

Fund managers believe the use of performance related fees will increase over the course of the next year, according to research from Skandia Investment Group (SIG).

The FTSE 100 has dropped back below the 5,000 mark as miners suffer from profit taking on fears the rally in metal prices may have gone too far.

The IMA is to close the UK Zeros sector on 30 September and move the five funds into the Specialist category.

Bonds continue to dominate UK net retail sales although equity funds are starting to gain ground, according to IMA sales figures for July.

The ABI will create a new investment sector called Deposit & Treasury, which will have stricter limits than the existing money market category.

The Dow Jones is higher this morning on improving house price data and a rebound in consumer confidence.

The FTSE 100 has opened lower this morning as investor confidence was dented by weaker Asian markets overnight and a flat US session on Monday.

Guildford-based IFA Keith Churchouse is in the late stages of publishing The First Churchouse Chronicles, a book documenting his 24 years in financial services.

The Dow Jones was rapidly approaching a 2% drop in early trading on Monday on fears the recent rally may have been overdone.