Guy de Blonay will take up his position as co-manager of the £1.2bn Jupiter Financial Opportunities fund alongside Philip Gibbs on 1 June.

Last week saw dramatic developments in the oil sector as BP tried to contain a huge oil slick, but fund managers are forecasting gradual upward moves in the oil price in the longer term.

M&G is planning to launch an international macro-focused fixed interest offering for star manager Jim Leaviss.

Schroders' top managers and economists discussed their predictions for the outcome of the general election last week, and were largely in agreement that Britain is facing a hung parliament.

The Bank of Ireland announced a €3.4bn (£3bn) capital raising last week to shore up its balance sheet, as the Irish Government prepares to increase its stake in the bank.

SVM founder Colin McLean has taken over the group's Skandia UK Best Ideas mandate following the departure of Hector Kilpatrick earlier this month.

Aviva Investors has registered its Global Convertibles Absolute Return Sicav for sale in the UK.

Some UK equity fund managers are taking risk off the table in the belief Britain is facing a double-dip recession, following lacklustre GDP figures released last week.

Inflation figures released last week by the Office for National Statistics show a higher-than-expected jump, while the Bank of England's Monetary Policy Committee (MPC) has revealed its members are increasingly worried about the rise.

Greece bowed to international pressure last week by formally requesting a bailout from the eurozone member countries and the International Monetary Fund.