Japan equity managers are buying back into domestic companies and cutting their exposure to export-led firms as the slowdown in China and a flat yen weigh on sentiment.

Swiss international investor Hansa Aktiengesellschaft has bought specialist fund manager SVG Investment Managers Ltd (SVGIM) from SVG Capital, subject to regulatory approval.

Old Mutual Global Investors (OMGI) is planning to relaunch a number of funds in its range, with global equities, Asia and emerging markets touted as major growth areas.

US markets could be heading for a 1987-style crash, according to Swiss investor Marc Faber.

PIMCO's Bill Gross has likened the recent sell-off in bonds to the "Battle of the Somme", but said the group is well positioned to fight on in future.

Old Mutual Wealth (OMW) has delayed the launch of its Select fund range while it readies a managed portfolio service set to put it head-to-head with some of the UK's largest discretionary fund managers (DFMs).

Richard Buxton's Old Mutual UK Alpha fund has passed the £500m AUM mark, having grown at a rate of £100m a month since he joined the firm in June.

Asian markets outside Japan fell again as strong growth in the US services sector stoked fears the country will soon begin tapering bond purchases.

Fidelity is to cut the annual management charge on its range of 15 multi-asset funds for advisers investing through its FundsNetwork platform, after the Financial Conduct Authority banned a cross-subsidy deal.

M&G has taken four awards at rating provider FE's annual Group Awards, highlighting the best fund managers across the major asset classes.