Thames River's multi-managers have been cutting exposure to ‘bubbly' Asia in favour of Europe as they tidy up the portfolios inherited from F&C.
French President Nicolas Sarkozy has said France and Germany will never let the euro fail.
Neptune's Rob Burnett has moved from an underweight to a neutral position on banks for the first time since 2009 on his £1.12bn European Opportunities fund in the belief a solution to the Eurozone sovereign debt crisis is "imminent".
S&P Fund Services' end of year review shows most European fixed income managers remain wary of peripheral bonds going into 2011
Spain's economic problems will be the ultimate test for the euro but the currency will emerge stronger, says Aegon's Phil Milburn.
Skandia has added international asset manager Danske Capital to its European Best Ideas fund.