As we feared, this is proving a difficult year for investors. We have long thought the best in world share markets was over.

PSigma Asset Management has added former Gartmore and Insight manager Eric Moore to its UK team.

Investor money in poorly performing funds had doubled to £14.25bn over the past year, with Invesco Perpetual running the most ‘dog' assets under management, Bestinvest reveals.

Updated 12.30pm: The FTSE plunged in midday trade after Chancellor George Osborne unveiled details of the coalition government's £6.2bn spending cuts.

A number of hedge funds that made millions from the implosion of America's subprime market are betting on a similarly dramatic collapse of the euro.

The US Treasury has secretly resurrected plans to float Asian insurer AIA on fears the £24bn sale to Prudential could fall apart.

Fidelity's Sanjeev Shah has been able to limit the downside on his £3.12bn Special Situations fund during the strong stock falls over the past month by using put options on the market.

Schroders stalwarts Ian Lance and Nick Purves are to join RWC Partners in August to run Income and Value vehicles for the boutique

Stephen Lansdown, the Hargreaves Lansdown co-founder and one of the UK's richest individuals, has left Britain for Guernsey.

Fund managers are predicting the downfall of the beleaguered euro, with M&G bond vigilante Richard Woolnough among those forecasting an end to the single currency.