Franklin Templeton Investments' Michael Hasenstab has defended his Hungarian debt position amid reports the group owns 10% of the country's local bond market.
The board of Anthony Bolton's Fidelity China Special Situations fund has bought back a further 750,000 shares in a bid to narrow its discount.
Hungarian bond yields soared above 10% yesterday after the government cancelled a bond swap auction, increasing fears the country will be the first in the EU to default on its debt.
Liontrust's Eoghan Flanagan has urged Chinese policymakers to accelerate monetary easing by the end of the year in order to help boost a slowing economy.
Around 10% of Hungary's local bond market is owned by Franklin Templeton Investments, according to reports.
JOHCM GEM Opportunities manager James Syme said Vladimir Putin's decision to run for the Russian presidency in 2012 has already proved negative for investors in the country.