FACING THE FACTS

M&G has promoted Randeep Somel to become co-manager of the £1.2bn Managed Growth fund, working alongside existing manager Graham French.

James Inglis-Jones, co-manager of the Liontrust European Absolute Return fund, is making his portfolio more concentrated in a bid to maximise the vehicle's ability to perform in both rising and falling markets.

Philip Rodrigs is to take over as manager of the Investec UK Alpha fund as the group expands the scope of his mandate.

Nigel Thomas, manager of the £3.2bn AXA Framlington UK Select Opportunities fund, has sold out of his position in supermarket chain Tesco for fear of ongoing problems in its UK business.

Issuance in the US corporate bond market has reached record levels in the first quarter of 2012 as low borrowing costs and an improving economic backdrop spurred on borrowers.

GOME Electrical Appliances, one of the top holdings in Anthony Bolton's Fidelity China Special Situations fund as of last month, saw its share price fall 21% overnight after full-year earnings disappointed.

The so-called ‘fear index' is increasingly serving as an indicator of future high yield bond performance, according to Dave Bowen, manager of the $3.5bn Muzinich Short Duration High Yield fund.

Legal & General IM's Ben Gill expects the Bank of England may be forced to intervene to weaken sterling as it explores other forms of QE.

Kames Capital is to waive the performance fee on its £65m UK Equity Absolute Return fund for the rest of the year, and will cut it in half from 2013 onwards.