European Wealth has opened an office in Manchester, expanding its regional network into the North West of England, after recruiting a pair of former Barclays investment managers.

Hermes Fund Managers has been rebranded as Hermes Investment Management, adopting a new corporate logo to reflect the change.

Tom Yeowart has joined Troy Asset Management to run the Troy Spectrum fund, working under chief executive Sebastian Lyon and fund manager Francis Brooke.

The Investment Management Association (IMA) is understood to be looking at a range of sectors for the increasing number of risk-targeted funds which are choosing to remain unclassified.

Chris Reid, manager of the Majedie UK Income fund, has been topping up his highest conviction positions and increasing the portfolio's concentration, in the expectation divergence between winners and losers will increase.

Investment Week reveals the most bearish UK equity managers at a time when an increasing number are holding a significant chunk of their portfolios in cash as fears of a correction grow.

US markets continued to edge higher on Wednesday, despite the Federal Reserve's latest minutes suggesting an interest rate hike may come sooner than expected.

Two members of the Bank of England's Monetary Policy Committee voted for a 25bps rate hike this month, latest minutes show - the first call for hikes in over three years.

Old Mutual Global Investors' Richard Buxton is considering buying Tesco for the first time in four years, as managers investigate a contrarian opportunity in the stock despite the spectre of dividend cuts.

Global markets have jumped and oil has hit a 14-month low as geopolitical tensions between Russia and Ukraine show signs of abating.