Barings' Andrew Cole has slashed the equity weighting on his £28.1m Multi Asset fund by 15% in favour of government bonds as his team becomes increasingly risk averse.

Angelos Damaskos, manager of the £54m Junior Oils Trust, has bucked the trend to move defensive over the summer by increasing his equity exposure by 20%.

Income stars such as Neil Woodford and Bill Mott are set for boosts to their portfolios as AstraZeneca jumped over 3% this morning following the approval of a drug the pharma giant pinned $2bn of future sales.

News Corp's shares jumped 5.5% following yesterday's parliamentary hearing with the group's chiefs Rupert and James Murdoch.

The US Congress moved one step closer to sealing a deal on its debt ceiling, pushing down yields on 30-year government bonds.

Veteran investor Jim Rogers is long the euro in his portfolio as he expects the eurozone to survive the sovereign debt crisis.

Markets look set for another day of falls as investors fear sovereign debt problems in the US and eurozone could prompt another global crisis.

Gold hit a further record high yesterday afternoon as Ben Bernanke said the Federal Reserve was prepared for QE3 while increasing risk of contagion in the eurozone worried investors.

Fitch has downgraded Greece to CCC status, one notch above default, due to growing concerns private investors do not want to participate in any bailout of the country.

Aegon has confirmed it will rebrand its UK asset management arm as Kames Capital later in the year as Investment Week exclusively revealed earlier this afternoon.