Europe

Old Mutual has replaced Jupiter and Newton on a number of mandates within its £234m European Best Ideas fund with a range of in-house Old Mutual managers and Alken's Nicolas Walewski.

Andreas Zoellinger, co-manager of the BlackRock Continental European Income fund, is backing mid-caps for dividends as valuations in some larger companies become overstretched.

Olly Russ, manager of the Argonaut European Enhanced Income fund, is buying into asset managers in Europe, favouring opportunities in financials which provide an alternative to the banking sector.

BlackRock is set to soft-close its £1.96bn European Dynamic fund, run by Alister Hibbert, while its European Absolute Alpha fund will be capped at £100m.

EUROPE

In a surprise statement, Germany's finance minister has admitted Greece will need a third bailout package.

Skagen is changing the investment strategy of its €921m global equity offering, the Skagen Vekst fund, to expand its investable universe and reduce dependence on the Norwegian energy sector.

BIQ QUESTION

T Rowe Price European equity specialist Andrew Clifton reveals five of the best European banks to back against the backdrop of improving sentiment in the eurozone.

EUROPE