Robin McDonald, co-head of the multi-manager range at Cazenove, has said investors should not hold out for further stimulus from the Federal Reserve as he believes it has ceased its policy to weaken the US dollar.

After building up a $5bn emerging markets strategy at Barings, James Syme and Paul Wimborne left in February 2011 to join boutique fund manager JO Hambro Capital Management (JOHCM).

Neptune's Robin Geffen has moved nearly half of his £950m Global Equity fund into US equities, his largest ever exposure to the region.

Greece is seeking a two-year extension to its austerity programme from the European Union and IMF as it struggles to find room for another €11.5bn of spending cuts.

Standard Chartered has agreed to pay a $340m (£217m) fine to US regulators after it was accused of trying to hide up to $250bn of transactions with Iran.

M&G reported a 53% rise in net investment flows in the first half of the year, with retail investors driving the £4.3bn of flows.

The UK could leave the European Union by this autumn should the eurozone debt crisis intensify further, it has been suggested in a study by Japanese bank Nomura.

Fund selectors have revealed the difficulties in allocating to Asia and emerging markets as some of the most popular retail funds close their doors to new investors.

ONE TO WATCH

RWC Partners is re-opening Ajay Gambhir's European Absolute Alpha fund after closing it last year.