FUND MANAGER FOCUS

Smith & Williamson Investment Management has promoted Robert Royle to co-manager of the group's £82m North American trust, alongside Lady Tana Focke.

Marlborough's top performing small-cap manager Giles Hargreave has reduced his cash weighting from 10% to 5% to snap up shares trading at distressed valuations.

Marlborough's top-performing small-cap manager Giles Hargreave has increased his holding in retailer Sports Direct in the £513m Special Situations fund, ahead of the start of Euro 2012.

Invesco Hong Kong has announced Samantha Ho, lead manager of the £175m Invesco Pepetual Hong Kong & China fund, has left the firm.

UK income funds face a new threat from the eurozone crisis if the pound continues to strengthen against the single currency, leading managers have said.

Ian Furtado, the former head of sales at emerging markets boutique Occam, has joined Royal London Asset Management (RLAM) as a business development manager.

The likelihood of a Greek exit from the eurozone this year is only around 25%, well below investment banks' consensus forecast of 50% to 70%, top commentators have said, with Germany set to prevent a ‘Grexit' before its own elections in 2013.

Invesco Perpetual's income stalwart Neil Woodford has initiated three new positions in his £915m Edinburgh investment trust, to take advantage of share weakness.

Hargreaves Lansdown's investment manager Ben Yearsley has left the firm by mutual agreement.