Emerging markets

Michael Konstantinov, manager of the £356m Allianz BRIC Stars fund, is to leave the group to pursue other opportunities.

Shares rose across Asia overnight on positive manufacturing data from China, which analysts said marked a turning point for the region.

Ashmore Investment Management, an emerging markets specialist, has launched a SICAV fund investing in Turkish equities.

M&G is to launch a Global Corporate Bond fund for Ben Lord next week, Investment Week understands.

Managers at Odey and M&G have taken opposing views on the fortunes of Aberdeen Asset Management as the impact of the emerging market sell-off polarises opinions.

Hedge fund manager Hugh Hendry moved to play the summer EM sell-off by pitting 'good' emerging markets against struggling peers.

Brazil has raised its benchmark interest rate to 9% from 8.5% in a further attempt to rein in inflation, following the dramatic sell-off in the country's currency.

The Indian rupee has plummeted to a record low as the soaring oil price and internal economic problems continue to derail growth.

Emerging market currencies hit fresh lows after minutes from the latest Federal Reserve meeting made the prospect of tapering this year all but a certainty.

M&G's Jim Leaviss established small positions in selected emerging market debt and currencies at the end of July despite remaining bearish on the asset class as a whole.