The £509m Polar Capital Technology trust has managed to generate its first performance fee for the first time since the tech bubble more than a decade ago.

The managers of two Baillie Gifford investment trusts have significantly slashed gearing in the view growth prospects in the UK market are subdued for the rest of the year.

RDR may provide boost to investment trusts but the sector still faces headwinds, warns Numis Securities.

The board of the SVM UK Active fund, formerly managed by Colin McLean, has confirmed the trust will be liquidated following activist investors Cyrun Finance taking over the trust.

The Marlborough Multi Cap Income fund, headed up by Hargreave Hale founder Giles Hargreave, has raised £90m of assets just two weeks since launch.

Thames River has closed the offshore version of its $3.5m Global Boutiques fund, domiciled in Dublin.

European indices have opened flat in early trading as markets pause for breath after posting losses of over 2% this week, hit by contagion fears across the Continent.

J.P. Morgan is set rename its £447m Brazil Alpha Plus fund and increase its net long positions next month.

Invesco Perpetual's Andrew Shard, who heads up the group's £351m US Equity fund, has left the firm.

Italian and Spanish bond yields have cooled in early trading after yesterday hitting their widest spread over German bunds since the inception of the euro.