Asia

Paulson fund loses $500m on Sino stake Veteran hedge fund investor John Paulson has lost $500m through selling his entire holding in Sino Forest, a Chinese forestry company fighting fraud allegations, the FT reports.

ON JAPAN

Rajeev De Mello is leaving his role as Asian bond manager at Western Asset, Legg Mason's fixed income subsidiary, on 10 June.

Man Group is planning to follow up the launch of its Nomura Global Trend fund with another vehicle run up by GLG, the fund manager it acquired last year.

ON JAPAN

Market and economy seen as more distinct following the recent disaster

ON S&P'S DOWNGRADE OF JAPAN

The Witan Pacific investment trust has declared a final dividend of 2.8p, a rise of one-third year on year, after seeing the NAV soar more than 25%.

The insurance industry will play a pivotal role in helping Japan get back on its feet. Richard Dunbar, investment director - UK equities at SWIP, analyses the current state of the sector and what this disaster will mean for its future.

Standard & Poor's has cut Japan's sovereign rating outlook to negative following the devastation caused by last month's earthquake and tsunami.