Shares on South Korea's main index rose nearly 1% overnight, having sold off sharply on the day of North Korean leader Kim Jong Il's death.

After a year dominated by volatility in markets which hit equities for six, and left government bonds trading at record highs, Investment Week reveals the best and worst performing IMA sectors.

With equity markets around the world diving in the latter half of the year amid the turmoil in Europe and global growth fears, a number of funds were hit particularly hard.

2011 has been a year when some of the most popular emerging market managers paid the price for the breakneck growth of recent years, with investors fleeing to safe havens as equities tanked amid the eurozone debt crisis.

Renowned commodity investor Tim Guinness has taken a stake in North Investment Partners.

Nigel Legge's new firm Vinculum is intending to launch a second fund investing in US equities next year.

Schroders' star stockpicker Richard Buxton has apologised to investors in a conference call after his fund plunged down the rankings this year.

Heavy selling of the euro saw it tumble through the $1.30 mark versus the US dollar late this morning, to its lowest level since early January.

Income investors have endured a lot of headwinds in 2011, but as we approach a new year, Cazenove's Income fund manager Matt Hudson said a number of sectors still face challenges.

Markets around the world closed down overnight as further signs European leaders will fail to agree a new treaty emerged.